New Delhi, April 19: The festival of Akshaya Tritiya is being celebrated with great enthusiasm across India this Sunday. Investing in gold and silver on this day is considered highly auspicious and is believed to enhance prosperity.
Over the past five years, investing in gold and silver on Akshaya Tritiya has proven to be highly beneficial for investors, with gold yielding approximately 218% and silver yielding an impressive 255% return during this period.
According to data from the Indian Bullion Jewelers Association (IBJA), the price of 24-carat gold on Akshaya Tritiya five years ago, on May 14, 2021, was ₹47,757 per 10 grams. Today, it has surged to ₹1,51,655 per 10 grams.
During this time, gold has provided a compound annual growth rate (CAGR) return of 26%. The total cumulative return stands at 217.55%.
In contrast, silver was priced at ₹70,360 per kilogram five years ago, and it has now risen to ₹2,49,940 per kilogram. Silver has achieved a CAGR return of 28.8%, with a total cumulative return of 255.23%.
Throughout the review period, silver has significantly outperformed gold by a large margin. These figures indicate that despite market fluctuations, both gold and silver have remained profitable investments for the long term, consistently serving as wealth creators.
The past year has also been remarkable for both gold and silver. During this time, gold has returned over 60%, while silver has exceeded 160%.
The surge in gold prices is attributed to global instability and continuous purchases by central banks. Meanwhile, the rise in silver prices is driven by increased industrial demand.
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My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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