Ahead of Akshaya Tritiya, the prices of Gold went up but the good news is that the price is back down again and anyone looking to invest into Gold on this auspicious day can do so. Since buying gold is considered lucky on Akshaya Tritiya and the prices have gone down it would be a good day to buy gold.Also Read - Gold Price Today Down By ₹ 8000! Check Gold Rates In Delhi, Mumbai, Bangalore, Lucknow, Your City, State
The international prices went down and have affected the gold prices today which led to a decrease in the prices to Rs. 31311 today. The gold prices in India are affected by the activities of the international market. Also Read - Gold Prices Likely to Scale up Towards Rs 65K/10gm: Religare
The domestic gold pricing is also affected by the internal economy and can be swayed by it.The demand for Gold in India increased by 9 percent last year and is expected to go up this year too. With tensions in the middle-east the gold prices have been volatile and even then for Akshaya Tritiya this year the prices have come down. Gold is considered as an investment globally and is a big part of weddings and auspicious festivals in India, therefore a lot of people head out to buy gold for future weddings and other festivals. Also Read - Gold Prices Today, 11th September 2020: Yellow Metal Rates Drop to Rs 51,306 Per 10 gm | Prices in Major Cities Here
Since the demand is also up especially after demonetisation and GST it is a good sign for the Indian gold market. There is an expectation of a price jump in the near future to above Rs 33,000 per 10 grams. As Diamond merchants globally are buying more gold due to quality issues with stones, gold is expected to be quite in demand.
Akshaya Tritiya is celebrated on the third day of the New Year as per the luni-solar calendar. This day is considered very auspicious to buy new things whether it’s gold, cars, houses or any new investment. It marks as a favourable day for new beginnings that are full of promise.