Some investors keep coming back to me Sir, I want to INVEST in Gold....
Me : Why?
Investor : Sir, Akshay Tritiya hai & I need for my daughter's wedding in about 10 years time and the cycle repeats...
You are going to see lot of advertisement in the coming days to buy GOLD on the auspicious day of Akshaya Tritiya which is on 18th April 2018. Look at what happened, if you bought Gold on this auspicious day in the past, hoping that your wealth will grow.
Let me share 2 charts
Hope this chart helps you to stay away from considering GOLD as an investment!
The same time Sensex has generated better and consistent returns, still many think that it is not good investment!!!
It is time to respond practically rather than emotionally.
Last, but not the least investment have no emotions, so whenever you invest do not show emotions. Gold and Real estate investments are more out of emotions which is proven now
Having GOLD as a portfolio allocation is a MUST but buying it for HUGE RETURNS is a strick NO-NO.
The Biggest problem with Gold is that it never produces anything....no interest, no dividend, no rent, nothing
Its Growth entirely depends on belief that some other person will buy this Gold for MORE in future.
GREATER FOOLS'S THEORY??
And a yes gold also depends on FEAR.
What if there is a World War? something of sort where there is a crisis, a panic...
If you still want to buy Gold for long term, be smart and consider investing in Government Sovering Bonds as these will be backed by Govt and you will get the added advantage of Additonal Interest (albeit very low)
there is absolutely no technical or fundamental reason to buy GOLD on Akshaya Tritiya.
Gold is not an investment. Gold is an allocation in Indian Households. Continue buying gold in SIP for a specific purpose & allocation.
Your wealth grow as per the potential of the asset you invest.
Also visit my TELEGRAM channel and join today.....its FREE http:/http://https://t.me/MutualFundWORLD/
Special thanks to Padmanabhan for inputs