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Akshaya Tritiya 2023 is near and various brands are offering attractive offers on the purchase of Gold and Silver Prices. Gold and silver etc. have been the traditional choice of investment for Indians and their demand has also improved with the changing times. If you also want to get better returns, then you can buy gold on the occasion of this Akshaya Tritiya. A similar suggestion has been made in a recent report by Motilal Oswal Financial Services.
better outlook ahead
According to the report of Motilal Oswal Financial Services, the prices of both the precious metals have increased rapidly since the beginning of this year. Since the beginning of the year till now, their prices have increased by 10 percent. The outlook ahead is also looking better. The global economy faces the challenges of a slowdown, geopolitical uncertainties, and a slowing or halt in interest rate hikes. All these factors are good in terms of gold.
These factors increased the price
It has been said in the report that during the last few years many factors have helped in sleeping. With inflation in the US at a multi-decade high, the Federal Reserve continuously raised interest rates. On the other hand, the war that started between Russia and Ukraine increased the demand for gold and silver as a safe investment.
Gold remained like this on Akshaya Tritiya
From the point of view of Akshaya Tritiya, during the last 10 years, gold has given returns at the rate of 11% CAGR. Motilal Oswal has advised to invest in SGB for a long term perspective. The firm says that investing in SGB will help capitalize on the rise in gold prices and along with this the investor will also get an additional 2.5% interest every year. SGB has recently crossed the 100 ton mark. Apart from this, there can be many other ways of investing in the form of ETFs.
prices can go up to
Motilal Oswal believes that the coming time is better for both gold and silver. The fundamentals of both the precious metals are looking better. For this reason, Motilat Oswal has maintained a positive attitude towards gold and silver as a way of investment. The company recommends buying both the precious metals on dips. Motilal Oswal believes that gold can touch the level of Rs 63 thousand per 10 grams in the domestic market, while silver can reach up to Rs 85 thousand per kg. On the other hand, gold on Comex can reach $ 2100 an ounce, while silver can touch the level of $ 29 an ounce.
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