Akshaya Tritiya: Another golden year ahead!!!
Every mouth is silent where gold speaks. This proverb from Italy, which summarizes the precious metal's unprecedented price run from march 2022—when it shot up from Rs 55,000 per 10 grams to over Rs 73,885—is appropriate for the times we live in. The positive outlook for gold has sparked a wide range of forecasts and responses from many sources: it is anticipated that the yellow metal will reach $2,500 per ounce on global markets. In three to four more years, it might quadruple from Rs 72,000 in India. By 2030, some predict it will reach at least Rs 2 lakh.
A number of factors have contributed to the extraordinary structural bullishness surrounding both gold and silver, including central banks' ongoing purchases of the metal, the US Federal Reserve's upcoming interest rate cut, the dollar's decline and efforts to "de-dollarize" international trade, higher retail demand and interest through exchange-traded funds, geopolitical tensions, the mining industry's stagnation since 2016, and growing global economic uncertainties. Given that gold has historically shown to be a reliable inflation hedge, the metal has never had it better, especially when you take into account the possibility that inflation could erupt at any time in many different nations.
What is the meaning of Akshay Tritiya?
One of the most auspicious holidays observed by Jains and Hindus throughout india is Akshaya Tritiya. Known by most as "Akha Teej," this event is regarded as a source of luck, prosperity, and good fortune. According to the Gregorian calendar, it occurs on the third day of the Shukla Paksha in the indian month of Vaishakha, which is often april or May.
Since "Akshaya" means "never diminishing" in Sanskrit, it is thought that starting a new endeavor on this day will bring wealth and good fortune. It's seen as very lucky for investing, getting married, launching new businesses, and buying gold or other valuables. On this day, worshippers give prayers to the gods, carry out rituals, and engage in altruistic deeds like delivering alms to the poor. Furthermore, this day is lucky for investing in gold or purchasing gold jewelry.
