Indians love gold
We love to wear gold jewellery.
We love the fact that we can borrow money using gold as a security.
We also love the fact that returns from gold can beat inflation, which very few financial instruments in India can.
So, when the price fell to a two-year low of Rs 25790 last month, Indians were thronging jewellery stores.
Due to heavy demand, some stores even ran out of jewellery and gold coins.
Even our festivals are incomplete without gold.
During the year, occasions such as Akshaya Tritiya, Dhanteras during Diwali and Raksha Bandhan are some days when it is considered auspicious to buy gold.
Even a nominal 1 gm is enough.
So, should you buy gold on Akshaya Tritiya, which falls on Monday, May 13?
Text: Business Standard