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Akshya Tritiya falls this Sunday (May 16) and I guess, there would be usual rush to buy gold. Well, on one side there is a sentimental tag attached, and on the other side, we are witnessing a tremendous rise in gold prices. In May, the rates of per gram gold in Chennai rose close to Rs:70. Sensing the trend, all the Jewelers would try to cash in this season by offering discounts. Interestingly, I stumbled upon this link about various offers.
Srikanth Ramu
Do you expect the gold rate to come down after the Akshya Thrithi. The papers say it will not come down.. How is the global cue on the same.
ReplyDeleteKarthick:
ReplyDeleteIt might sound cliche when I say, its tough to predict gold prices. However, let me echo my views. The prices takes global cues which depends on various factors like nervousness in markets due debts in EU nations, increased demands etc. Last year during May, the rates per gram gold in Chennai were around Rs: 1340 and it steadily increased to reach Rs: 1690 (approx.). If investors are excited with other alternatives, then you might find the rates to decrease. However, the prices might hover around Rs: 1500 - 1600. I really doubt, if it would plunge to Rs: 1300 mark.
Srikanth Ramu