Gold will make a new record by Akshaya Tritiya! Will touch the sky by Dhanteras

highlights

By Akshaya Tritiya, the price of gold in the spot market will be Rs 68,500.

This year the festival of Akshaya Tritiya is falling on May 10, 2024.

On March 28, 2024, the spot price of 24 carat gold in Delhi was Rs 69,040.

New Delhi. In our country, which loves gold and jewellery, it is bought and sold throughout the year. But, such occasions come twice every year when buying gold items becomes almost a necessity. On both the occasions of Akshaya Tritiya and Dhanteras, there is such a rush in the markets to buy gold and silver, as if it is being distributed for free. This time also it is expected that there will be huge purchase of gold and gold jewelery on Akshaya Tritiya and Dhanteras.

Ajay Kedia, Director of Kedia Advisory, says that in the year 2024, there may be a big jump in the price of gold and its jewelery due to the world's economic condition, geopolitical tension and cultural demand. The demand for gold is increasing rapidly anyway. If there is a correction in the market then the demand for gold will increase and a big jump can be seen by the end of the year.

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Where will the gold go till Akshaya Tritiya?
According to Kedia, till Akshaya Tritiya, the price of gold in the spot market is estimated to be Rs 68,500 per 10 grams. This year the festival of Akshaya Tritiya is falling on May 10, 2024. Buying gold or gold jewelery on this day is considered auspicious. If we look at the current price of gold, then on Thursday, March 28, 2024, the spot price of 24 carat gold in Delhi was Rs 69,040 per 10 grams. In this context, till Akshaya Tritiya, the price of gold is seen falling by about Rs 500.

What is the forecast till Dhanteras?
Ajay Kedia says that even though there has been some decline in the prices of gold in recent times, a sharp rise in the price of gold is being seen in the long term. This year, the festival of Dhanteras will fall on 29th October and by then the gold rate may cross Rs 72 thousand per 10 grams. The main reason for this is the emphasis on retail purchases as well as the Reserve Bank's emphasis on gold purchases.

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How much return was given in a year
Talking about the returns of gold, in the last one year, returns on gold have been around 13 percent. Anuj Gupta, expert of commodity firm IIFL, says that at the end of the financial year 2022-23, the price of gold was Rs 59,612 per 10 grams. The last trading of 2023-24 is also going to happen this week, and today its spot price is running at Rs 69 thousand per 10 grams. If seen this way, an increase of about Rs 9,000 has been achieved in a year.

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Tags: Business news in hindi, Gold business, Gold investment, Gold price