When purchasing any asset for investment for that matter we always look at past returns and here on the occasion of Akshaya Tritiya today when buying gold is considered to bring fortune in the form of good luck and success in the coming months, we provide you with the ready reckoner of gold's performance in last 10 years on Akshaya Tritiya.
Past 10-years price of gold (MCX) on Akshaya Tritiya
|S.No||Year||Akshaye Tritiya Date||Closing Price (MCX)||Returns During the Year|
* Gold MCX market is still opened and will shut at 11:45 pm so last rates have been put here.
Source: The data has been taken from Investing.com.
Slowly and steadily gold has always appreciated in value considering many economical aspects such as inflation, dollar index, printing of money by central banks etc.
In the year 2015 gold prices decreased and gave negative returns of 11.20% as the world economy witnessed steady growth and bond yields kept rising. A surge in the bond yields increase the opportunity cost of holding non-interest yielding bullion. However in the year 2020, the gold has outperformed all the other investment classes and given returns of 46.04%. The reasons for such a sharp shoot up in the value of gold in 2020 were many including decline in bond yields, coronavirus outbreak and low interest rate in the economy.