Chennai: Investors who bought gold in the Akshaya Tritiya era four years ago have seen their assets double the value. Gold prices are also up 30% from the recent Akshaya Tritiya levels.
The average price of gold around Akshaya Tritiya in 2021 is Rs 47,676 per 10 grams. With Akshaya Tritiya around the corner, the gold price on the multi-commodity exchange is trading at around Rs 95,230, 99.7% higher than the 2021 level.
Gold prices have the highest returns since the last Akshaya Tritiya, when the price was Rs 72,727 per 10 grams and 30% or Rs 22,503 per 10 grams. Gold metals will also rise by 21.53% during the Akshaya Tritiya in 2024.
“Gold has always provided huge returns during Akshaya Tritiya, strengthening its position as a trusted investor in India. Over the past 14 years, gold has shown positive performance with only three figures of negative returns. Since 2018, the market has received eight consecutive years of awards since 2018, and over the past three years, gold medals have won a certain trend on this trend. Tritiya – It turns out that this is a reliable store of value.
Silver has risen 33.6% over the past four years. However, over the past five years, the gains were 125%. The silver price of MCX was Rs 42,051 in 2020, which was 69% appreciated in the year, which is the highest annual return in the past five years. However, silver’s YTD returns were about 12%.
Despite record prices, gold imports rebounded rapidly after two months of declines in two straight months. Imports climbed to $4.4 billion, almost double the figure last month and significantly higher than the $1.53 billion recorded a year ago, while still lower than the $7.3 billion imports between August and December 12, 2024, according to the Department of Commerce.
According to WGC, large jewelry retailers are optimistic about the outlook for the April-June quarter. Early booking indicators for festival bookings in regions such as Akshaya Tritiya point to strong consumer sentiment.
