From last year's Akshaya Tritiya to this years's Akshaya Tritiya, gold prices are up about 40% in a span of one year. And still analysts remain bullish on the yellow metal with some of them forecasting price prices to rise to about ₹50,000 per 10 gram by the end of this year, from the current level of about ₹46,500.
Nish Bhatt, founder and CEO of investment consulting firm Millwood Kane International, said: “Value of the yellow metal has risen over 40% in the last year alone.
Gold acts as a hedge against inflation, and historically its value has appreciated during uncertain times, war, pandemic, or an economic slowdown.