By Dr. Renisha Chainani, Head- Research, Augmont – Gold for all
It is believed that if Gold and Silver are bought on an auspicious day like Akshaya Tritiya, then Maa Lakshmi will shower the blessings throughout the year. This time, it’s a great coincidence of seven auspicious yog taking place on Akshaya Tritiya, so it is a very special and auspicious day for buying gold and silver.
20 years of Akshaya Tritiya Returns
Gold prices rose 15% in FY 2022-23 and 20% from the last year 2022 Akshaya Tritiya. Gold prices have given phenomenal returns in the last 20 years by rising more than 10x from Rs 5800/10 gm to Rs 60800/10 gm with a CAGR average return of more than 12%. There are only four years in the last 20 years when there have been negative returns in Gold if invested on Akshaya Tritiya, which means there are 80% of getting positive returns on a year-on-year basis, which is a fairly very good chance.
Precious Metals are currently trading at record high levels, so one might hesitate in investing with the fear of prices falling. But one should not worry about that, because prices will continue their bull run for the next few months and years. As the US interest rate has risen 500 bps in the last one year, the risk of crises, contraction, and recession has risen. In midst of all these crises, Gold and Silver have already risen 10-12% in the first few months of 2023 and are expected to outperform other asset classes for the rest of the year too.
There are ten reasons to be bullish on Gold and Silver in FY 2023-24, which are discussed in the report “Gold and Silver prices could rise 20% in FY 2023-24”. The environment is still bullish and is expected to take prices 20% higher from current levels towards $2400 (~Rs 70000) for Gold and $30 (~Rs 90000) for Silver by the next Akshaya Tritiya.
Moreover, you don’t have to worry about soaring gold and silver prices when you can invest for as low as ₹1. The best way to invest in 24K 999 Pure Gold on this Akshaya Tritiya in the comfort of your home is through Augmont Digital Gold/ Digital Silver through a single one-click process and which is 100% safe, insured and secured in vaults.
For a recession-proof portfolio, one should allocate at least 20% portfolio to Gold and Silver. And the best way to stay invested in Gold and Silver in a new financial year is to invest 50% in lumpsum at current prices on Akshaya Tritiya and divide the rest 50% through the Systematic Investment Plan (SIP) every month. Augmont- Gold for All offers both of these investment alternatives through its products like Augmont Digi Gold/Digi Silver and Augmont Gold SIP/ Silver SIP.
Akshaya Tritiya is also considered for gifting gold, to bring good luck and prosperity to the receiver. Augmont offers India’s thinnest gold coin of Maa Laxmiji and Shri Ganeshji, in form of Gold Atoms in the shape of a Keychain and Bookmark starting at Rs 999, which is the best gift to your family and friends on this auspicious day.