Gold and silver cheaper on Akshaya Tritiya: You will be shocked to know the fall in prices, big benefits of buying digital gold too

Pankaj Prasad
Pankaj Prasad 03/05/2022 10:18 IST
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On the occasion of Akshaya Tritiya, there has been a huge fall in the prices of gold and silver.

Today is the festival of Akshaya Tritiya and it is believed that buying gold on this day brings prosperity and more money in the future. In such a situation, if you are making up your mind to buy jewelry, then today is your best chance. In fact, on this occasion the prices of both the precious metals have come down drastically. On Tuesday, while the price of gold on MCX declined by 2.13 percent to Rs 50,650 per ten grams, the price of silver also declined by 2.14 percent to Rs 62,970 per kg.

Why is Akshaya Tritiya special?

Let us tell you that Akshaya Tritiya is considered an extremely auspicious festival of Hindus. It is also known as Akha Teej. It falls during the Shukla Paksha Tritiya in the month of Vaishakh according to the Hindu calendar. Both the words – Akshaya and Tritiya come from Sanskrit. Here Akshaya means eternal, never-ending happiness, the feeling of success and bliss, and Tritiya means third. This year, according to its name, it falls on May 3. The Muhurta has started on May 3 at 5.39 am and will end on May 4 at 5.38 am. Many people buy gold in the form of coins, bars and jewelery while others buy it digitally.

Digital gold can also be bought, while people give more preference to buy gold coins, jewelery on this day, now along with physical gold, the trend of buying digital gold is also increasing. Digital gold is gold that is bought online (digitally) and the equivalent value of physical gold is deposited in a secure vault on behalf of the customer. The special thing about digital gold is that even a small piece of it can be bought for a nominal price.

easy shopping like this

For investing in physical gold, customers get the option of grams, it is not possible for everyone to invest in it. Whereas more and more people invest in digital gold keeping their budget in mind. Actually, digital gold is a way to buy gold online sitting at home. You can also understand that you do not have to go to any shop to buy it, rather you can buy it from your mobile and keep it safe in your app's wallet. Also, whenever needed, you can sell it according to your own accord.

Why is Digital Gold beneficial?

The biggest feature of digital gold is that there is no fear of it being stolen. It's stored safely in your app's wallet, and you can convert it to real gold at any time. However, for this you have to pay some extra charge. Many e-wallets like Paytm, Google Pay, PhonePe are offering the option of investing in digital gold for Rs 100 on their platform. But according to experts, if you are looking to invest in digital gold, invest only through a registered investment advisor.

Gold ETFs Best Option for Small Investments

Gold ETF is a scheme of mutual funds. In this, investors can buy gold unit wise. When investors sell gold, they are paid money at the market price at that time. According to experts, this is a great option for small investors. Investors can get great returns by investing in Gold ETFs for the long term.

Know the value of your city like this

It is worth noting that buying gold on the occasion of Akshaya Tritiya is considered auspicious, so the fall in gold and silver prices is a great opportunity for jewelery buyers. Explain that the price of gold jewelery varies across the country due to excise duty, state taxes and making charges. You can also check your city gold price on mobile. According to the Indian Bullion and Jewelers Association, you can check the price by just giving a missed call on the number 8955664433. Your message will come on the same number from which you message. In this way you will know the latest rate of gold sitting at home.

22 carat used in making jewelery

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Let us tell here that mostly only 22 carats are used for making jewellery. Some people also use 18 carat gold. The hall mark is made according to the carat on the jewellery. 999 is written on 24 carat gold, while 23 carat 958, 22 carat 916, 21 carat 875 and 18 carat 750.

Category: Business


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