Akshaya Tritiya: Buying gold or silver: which is better?
Today is observed as Akshaya Tritiya 2023 around the country. Purchasing gold or silver on this day is seen to be lucky, and indians have been doing it for years. The ceremony, however, appears to be an appealing investment opportunity for a long-term investor if we consider the return that both gold and silver provide over the long run.
When we compare the price of gold and silver today to the price of Akshaya Tritiya two decades ago, we find that gold has increased by about 1000% while silver has increased by about 900% throughout this period. Considering the price of gold on the Multi Commodity Exchange (MCX) on Akshaya Tritiya 2022, gold has increased by 18% over the past year, while silver has given investors a return of 19%.
If we compare the BSE Sensex to the 30-stock index during the past year, the BSE Sensex has offered direct equity investors a return of around 1900% while the 30-stock index has given index investors a return of about 4.70%. Encouraging investors to purchase gold on Akshaya Tritiya in 2023, In addition to the traditional method of buying real gold on this auspicious day, there are numerous other ways to invest in gold, including sovereign gold bonds, gold ETFs, gold mutual funds, wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital gold, and gold derivative contracts on the exchange platform. Your risk tolerance, time horizon, and investment goal will determine which of these options you prefer.
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