Everyone is looking for ways to improve their wealth and wants to invest in safe investments. Gold is one of the most precious metals that can protect your wealth and give you decent returns on investment. Akshaya Tritiya is one of the most auspicious days when people prefer to buy gold. On this special day people buy gold coins, jewellery, bars ornaments etc. in order to multiply their money. However, not all the people are aware why they should purchase gold investment on Akshaya Tritiya.
Akshaya Tritiya is a day of great religious significance to Hindus. The day marks the beginning of Ekadasi, the eleventh day of the waxing or bright phase of the moon in the Hindu calendar. Akshaya tritiya is celebrated by many Hindus who fast on this day to please Lord Vishnu and seek his blessing for long life, prosperity, health, harmony and many more wishes.
In addition, true to its name, it would be wise to invest in gold. Let’s have a look at the nitty gritty of Akshaya Tritiya and why it is important and auspicious to invest in gold as an investment.
One of the most prevalent reasons for buying gold on Akshaya Tritiya is the sheer fact that it is one of the best ways you can hedge against inflation. You can’t beat a good hedge against the Indian Rupee. Back in the day, it was a method used to protect your money during times of inflation and hyperinflation. Even today, many people use it as an insurance against bad currency prices.
Gold is the most popular precious metal amongst investors and is considered a safe haven for wealth creation. It is an element that can never be destroyed by any means, and will always retain value. The demand for gold increased dramatically during the period of inflation in the 20th century.
We invest in gold to make money; but then, buy it so that we don’t lose money. Gold is the ultimate safe haven investment. Gold gives us peace of mind and hence, we should not just buy it to get rich but also to save ourselves from financial meltdown in bad times.
Diversification is one of the most important investment principles found in finance. Diversify your portfolio between risk classes or asset types, and invest in uncorrelated asset classes. You do this, so when one is doing badly your other investments are bringing you profits.
Gold is an asset class that has performed well in the past. Gold and Gold Stocks have historically had a negative to low (inverse) correlation with stocks, bonds, and other financial assets. This means gold can provide diversification benefits since it does not typically move in the same direction as stocks or bonds.
When you intend to buy gold on Akshaya Tritiya, it is important that you do not get influenced by the emotional side too much and make the purchase based on your own research and understanding. It is true that Akshay Tritiya is an auspicious day for buying gold but it is something that can be relied on blindly. You can take help from investment advisory.
Whether you are a seasoned investor looking to buy some new pieces or someone who has just started dipping their toes into the financial market, you should always make sure that you buy gold on this day. The aforementioned points can throw valuable light on the nuances of buying gold with confidence. Therefore, whether you are looking to make your first purchase or replace your old trinkets with shiny new prizes – don’t forget to invest in gold on Akshaya Tritiya.