Akshaya Tritiya, which is considered an auspicious day to buy gold, the yellow metal has seen significant price increases over the years.
Akshaya Tritiya, which is considered an auspicious day to buy gold, the yellow metal has seen significant price increases over the years. Gold prices have surged from Rs 31,729 per 10 grams in 2019 to Rs 72,100 per 10 grams in 2024.This represents a remarkable rise of nearly Rs 40,000 per 10 grams during this five-year period1. Experts believe that there is still room for further upside, with prices expected to reach ₹80,000 to ₹85,000 in the upcoming Akshaya Tritiya. On Akshaya Tritiya 2024, gold prices on MCX for June futures broke through the Rs 72,000 mark, reaching Rs 72,081 per 10 grams, marking a 0.62% increase. Silver also experienced gains, with MCX July futures contracts rising 0.49% to Rs 84,917 per kilogram. Falling US dollar rates and increased domestic demand have contributed to the surge in gold prices. The Central Bank of England’s decision to keep interest rates unchanged put pressure on the US dollar, leading to higher gold prices. Indians celebrating Akshaya Tritiya also boosted domestic demand for gold and silver. In summary, gold prices have risen significantly over the years, making Akshaya Tritiya an opportune time for gold enthusiasts and investors.
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