Why to Buy Gold On Akshaya Tritiya?

Investing in Gold on Akshaya Tritiya

India has a strong affinity for gold, purchasing over 800 tons in recent years, ranking second globally. Events like Akshaya Tritiya highlight our love for gold. Beyond tradition, it's considered a secure investment, significantly impacting our import trends.

Why Should You Buy Gold On Akshaya Tritiya?

India loves gold and we buy a lot of it making us the second biggest buyer in the world. Every year we gobble up more than 800 tons of the stuff! Why? Well, partly because we just adore gold and partly because we use it for special occasions. One of the biggest gold buying days is Akshaya Tritiya, a festival where people believe that buying gold brings good luck and prosperity. So, it's a mix of tradition, culture and a little bit of superstition that keeps us buying gold year after year. So you still wondering why buy gold on Akshaya Tritiya? this article will help you.

Importance Of Investing In Gold On Akshaya Tritiya

Akshaya Tritiya is a special day known for its promise of everlasting prosperity symbolized by the term Akshaya meaning never diminishing. It's believed that buying gold on this day ensures perpetual wealth.

Astrologically, Akshaya Tritiya aligns with the sun shining its brightest making it an auspicious time for new beginnings such as forming partnerships or marriage. It's seen as a day of abundant blessings from celestial bodies.

In Hindu tradition, Akshaya Tritiya marks the beginning of Satyug, a golden age of purity and prosperity. It is believed that Lord Krishna gave Draupadi a vessel that miraculously provided endless food symbolizing abundance.

According to Hindu mythology, the river Ganga descends from Kailash parvat to Prithvi on Akshaya Tritiya and the goddess Annapurna is believed to have been born on this day.

For many, Akshaya Tritiya is a time to initiate new ventures or investments believing that doing so brings joy and prosperity into their lives. It's a day filled with hope and optimism for a bright future.

Investment Benefits Of Buying Gold On Akshaya Tritiya

Buying gold on Akshaya Tritiya holds cultural importance and is believed to bring prosperity and good fortune in Hindu tradition. From an investment perspective purchasing gold on this auspicious day offers several benefits.

Firstly, gold is considered a hedge against inflation and economic uncertainty making it a reliable asset for diversifying investment portfolios. Secondly, Akshaya Tritiya often sees an increase in demand for gold which can drive up its price offering the possibility of capital appreciation for investors. Buying gold on this day is thought to symbolize wealth and abundance aligning with the auspicious nature of the occasion.

Gold is a tangible asset that holds intrinsic value and can act as a store of wealth over the long term. Whether bought in the form of jewelry, coins, bars, gold purchased on Akshaya Tritiya can serve as a timeless investment that transcends generations.

Gold Price Fluctuations Over The Past 10 Years

The table below shows the average annual price of gold (24 karat per 10 grams) in India from 2014 to the present year offering insight into historical trends. Understanding these trends can inform investment decisions and help anticipate future movements in gold prices.
 

Top 5 Gold Stocks To Invest In India during Akshaya Tritiya

Titan Company
Titan Company a part of the TATA Group since 1984 is a leading Indian company known for making and selling watches, jewelry, eyewear and other accessories. They offer a wide range of jewelry like pendants, earrings, rings, chains and necklaces as well as eyewear such as reading glasses, frames and sunglasses. Besides selling directly, Titan also franchises its stores, distributes its products and licenses its brands. They have several well known brands like Titan, Sonata, Mia, Titan EyePlus, Taneira, Tanishq, Fastrack, Zoya, Skinn, CaratLane and others.

Muthoot Finance
Based in Kerala, Muthoot Finance Limited is a company that specializes in providing financial services particularly focused on gold loans. Besides gold loans they offer various other financial products like housing finance, personal loans and corporate loans. They have different types of gold loan schemes such as the One Percent Loan and the Delight Loan. Muthoot Finance provides services like money transfer, PAN Card services and foreign exchange. They also offer leasing and factoring services, travel solutions and digital payment options.

Rajesh Exports
Rajesh Exports founded in 1989 and based in Bengaluru specializes in making and selling gold products. They produce various types of jewelry from machine made to handcrafted pieces. One of their main divisions, Valcambi is the world's largest gold refiner, producing tons of gold bars each year. REL distributes its products to jewelry stores in India and the UAE. They also have their own retail stores called SHUBH Jewelers in Karnataka.

Kalyan Jewellers
Kalyan Jewellers based in Thrissur is a popular jewelry retailer in India offering various jewelry types like gold, diamond and platinum. They sell items like rings, bracelets and necklaces under brands like Mudhra and Vedha etc. With about 150 stores in India and the Middle East they also serve rural areas through their My Kalyan outlets.

Manappuram Finance
Manappuram Finance is a company in India that offers financial services like gold loans, vehicle finance, insurance and mutual fund distribution. They have three main parts to their business: giving out loans for assets, providing gold loans and earning fees for services. With over 5,000 branches all over India, they serve over 5.8 million customers.

Conclusion

As Akshaya Tritiya nears if you're thinking about investing in gold stocks, take a close look at the prices of different gold companies shares. Remember, the gold market can be unpredictable due to many factors. So, do your homework before you decide to invest. Make sure that investing in gold stocks fits well with your financial goals and how much risk you're comfortable with