InvestorQ : I purchased gold in last Akshay Tritiya and made a good profit, so should I again buy gold this Akshay Tritiya?
ishika Banerjee made post

I purchased gold in last Akshay Tritiya and made a good profit, so should I again buy gold this Akshay Tritiya?

Answer
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Niti Shenoi answered.
5 months ago


Buying gold for Akshay Tritiya is normally an emotional family decision so I really cannot comment on the merits and demerits of the same. But I can talk about returns and the potential. You are right that gold purchased on last Akshaya Tritiya, would have gained 40% in the last one year. Despite the sharp rise in gold price over past one year, gold looks strong due to fears of a deeper global recession amid Coronavirus crisis. Due to the sharp rise in the price of gold, the inventory of gold with households and jewellers has appreciated substantially. Ideally, look at gold as a diversification for your overall portfolio and over long periods of time it is still equities that works in your favour. So, by all means buy gold for Akshay Tritiya but ensure to keep it within your 10-15% allocation.