New Delhi: There is excitement in the market on the occasion of Akshaya Tritiya, but there is no big jump in the prices of gold and silver. On April 19, gold prices remained scrutinizingly stable as compared to the previous day. 24 carat gold is trading virtually Rs 1.55 lakh per 10 grams, while 22 carat gold is at the level of Rs 1.42 lakh per 10 grams. Silver moreover remains at upper levels, due to which buyers are taking decisions cautiously.
Why was there not much movement in prices today?
Usually the demand for gold and silver increases on Akshaya Tritiya, but this time the prices are once quite high. This is the reason why there was no sharp rise in the market. People are buying, but mostly as per their needs. There seems to be less competition for large-scale investment or jewelry making.
What are the prices prevailing in the cities?
In major cities like Delhi, Mumbai, Ahmedabad, Bengaluru and Kolkata, the price of 24-carat gold is virtually Rs 1.55 lakh per 10 grams. Slightly higher prices are stuff seen in Chennai. 22-carat gold is costing virtually Rs 1.42 lakh per 10 grams in most cities. Silver is stuff sold between Rs 2.75 lakh and Rs 2.80 lakh per kg. There are small differences at the regional level, but overall the situation remains stable.
What to alimony in mind while shopping?
The price quoted at the shop is not final. The total forfeit is arrived at by subtracting making charges, GST and other taxes. So first understand the full price. The most important thing is to trammels the hallmark so that there is no doubt well-nigh the purity. Give preference to BIS hallmarked jewelry or coins only.
Buy Now or Wait?
If there is an firsthand need, it would be largest to buy little by little. Ownership in installments rather than making a big investment all at once reduces the risk. From a long-term perspective, gold is still considered a reliable option, but one should be cautious given the upper prices.
Why is shopping considered special on Akshaya Tritiya?
Buying gold and silver on this day is considered auspicious. It is believed that things purchased on this day never elapse in the future and bring prosperity. This is the reason why every year a huge prod gathers in the markets on this occasion. People segregate this day expressly considering of its religious and cultural importance.
What is the right time to buy?
This time Akshaya Tritiya will start from the morning of 19th April and protract till 20th April. The time between morning and afternoon is considered increasingly auspicious, hence the pace of shopping remains intense during this period. There may be a slight difference in the time of Muhurta in variegated cities, so please trammels the local almanac.
