Business News

Buy Sovereign Gold Bonds as ideal Akshaya Tritiya investment amidst global economic uncertainty: Experts

May 10, 2024

Kishore Narne, Commodity head, and executive director, Motilal Oswal group said, "As we embark on the new financial year, commencing with the auspicious occasion of Akshaya Tritiya, both Gold and Silver have shown significant gains, with Gold up by 13 per cent and Silver by 11 per cent Year-to-Date (YTD). Recent increases in gold prices have been driven primarily by geopolitical tensions and Central Bank purchases. Coin and bar demand saw a slight uptick last quarter, with a 3 per cent gain, while jewelry demand experienced a slight decline at -2 per cent. Central banks notably intensified their gold purchases, setting a new record for the first quarter, led by Turkey, China, and India."