Akshya Tritiya is considered an auspicious day for buying gold, silver and other metals. Sales are expected to rise as there is a "positive" buying sentiment this year with gold prices ruling stable at around 26,000 per 10 grams.
In an interview with Ajeet Kumar of Zee Media Corp Ltd, Vandana Bharti, AVP, Commodity fundamental research, SMC COMTRADE LTD, shares her views on whether to buy gold or not, and how gold prices will pan out in the near to medium term.
Two days after a woman was robbed and murdered in her home here, police on Thursday claimed to have cracked the case with the arrest of the alleged killer from Kolkata from where he was preparing to sneak into Bangladesh.
While several political and financial uncertainties -- such as high inflation and oil price, Richard Nixon`s action to detach the US dollar from gold and Soviet intervention in Afghanistan -- led to the rally in gold to USD 835 in 1980.
Record gold prices may be heading for a correction of about 8 percent next month, but the safe-haven metal may also rally to USD 2,400 an ounce next year as investors seek refuge amid global economic turmoil.
Gold, and only gold, will be our salvation when the value of companies, banks, countries and even money itself melts away. Gold, not shifting currencies, is the foundation of wealth and security. Gold is back, for good.