India’s demand for gold in this year from April to June is likely to increase compared to 2018. According to the World Gold Council report, due to the wedding season, sales of gold will increase in the coming times. Also, gold will be sold more on May 7. That’s because Akshaya Tritiya is on May 7. Therefore, on May 7, gold is expected to be sold more than other days.
This is why it is good to buy gold on Akshaya Tritiya
Supposing the planets and constellations of astrology, buying gold on May 7 brings happiness and prosperity in the life of a person. It is believed that by bringing gold on this day at home, Mother Laxmi and Lord Vishnu start living at your house forever as gold. Apart from this, gold is compared to the Sun. On the Akshaya Tritiya, the sun god shines the brightest. Buying gold is considered a symbol of power and strength. Gold has always been regarded as a symbol of precious metals and wealth-richness. Therefore, buying gold at Akshaya Tritiya is considered to be auspicious.
Due to rising demand, gold may increase in price
According to the World Gold Council, gold is currently at a minimum of four months. But due to rising demand in the coming times, it will improve its value throughout the world. Experts believe that if demand increases by 20 percent, the price of gold can increase by Rs 1000 per 10 grams.
5% increase in demand in the first quarter
In the first quarter of 2019, demand for gold jewelry has increased by 5 percent. Meanwhile, the demand for gold jewelry is 125.4 tons. In the March quarter of 2018, the demand for gold jewelry was 119.2 tons. That is, in one year, the demand for gold jewelry decreased by 1 percent.
Gold demand rose seven percent at the global level
Globally, the demand for gold in the first quarter of this year increased by seven percent. There is a demand for 1,053 tons of gold from January to March. In the first quarter of 2018, the demand for gold in the world was 984.2 tons.
Gold demand may soar in 2019
In 2016, the demand for gold in the country decreased by 22%. In 2018, gold demand was down by 1.40 percent. But according to the Gold Council, the demand for gold in India can go up to 850 tons in 2019, from 760.4 tons in the previous year.