Sunday, February 28, 2021
  • CCPA – California Consumer Privacy Act
  • Terms of Use
  • DMCA
  • Privacy Policy
  • Cookie Policy
  • About
  • Contact
Gold Investment
No Result
View All Result
  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact
  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact
No Result
View All Result
Gold Investment
Home Silver Silver Jewelry

Digital platforms strike gold on Akshaya Tritiya amid lockdown

Gold Investment Experts by Gold Investment Experts
in Silver Jewelry
3 min read
0
Gold can hit $3,000/oz as investors become risk-averse: BofA Securities
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter



Fifty-eight-year-old Chandrasekar has been shopping for gold on each Akshaya Tritiya for the previous a number of years. And this yr particularly, the Chennai resident didn’t need to break the custom as he wished to purchase it for his daughter’s marriage ceremony, which is scheduled in just a few months. In contrast to the earlier years, nevertheless, Chandrasekar didn’t purchase from a jewelry retailer, and used a digital funds app to make his buy insteas.

Related posts

Rose Quartz Ring Market Size 2020 By Global Business Trends, Share, Future Demand, Leading Players Updates and Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) – Owned

Impact Of Covid 19 On Precious Metals Market 2020 Industry Challenges, Business Overview And Forecast Research Study 2026 – NeighborWebSJ

Yellow Metal Prices Fall to Rs 47,960 Per 10 gm, Silver at Rs 69,800 Per kg

Yellow Metal Prices Fall to Rs 47,960 Per 10 gm, Silver at Rs 69,800 Per kg


“Although the amount wasn’t vital, the acquisition was made just for the sake of auspiciousness related to the pageant,” Chandrasekar stated.


Many Indians had relied on apps akin to Paytm Gold, Mobikwik or Google Pay to purchase gold on the auspicious day, as jewelry retailers remained shut as a result of pointers issued by the Ministry of Dwelling Affairs. In consequence, there was a surge in volumes on these platforms, business sources stated.


ALSO READ: India’s electronics manufacturing can acquire from China’s loss, says Prasad



Paytm Gold, for instance, stated that the platform had a four-fold improve in worth on the pageant day final Sunday over the yr’s gross sales, with tier-II and smaller cities contributing to 60 per cent of the orders. “Paytm bought the best quantity of MMTC-PAMP Gold amongst all digital platforms within the nation,” an organization spokesperson stated.


MMTC-PAMP is a three way partnership between state-owned MMTC and the Switzerland-based bullion model. It’s a refiner that has tied up with digital platforms akin to Google Pay, Cellphone Pe, Motilal Oswal and Fisdom on the market of gold and likewise gives safe vault companies for its storage. Google Pay didn’t disclose the figures citing silent interval forward of its earnings subsequent week.


It’s thought-about auspicious to buy gold, silver ornaments or a brand new property throughout the event of Akshaya Tritiya or Akha Teej for Hindus and Jains that signifies by no means diminishing prosperity. It’s an important day of the yr for jewelry retailers and types when it comes to enterprise, particularly in South India.



ALSO READ: A curious case of coronavirus positives and negatives for Mumbai journos



“Throughout Akshaya Tritiya weekend, gold purchases worth hit the extent which we normally do in a month on a mean,” stated SV Subramanya, CEO and co-founder, Fisdom, a mutual fund funding app. “Additionally, at a time when fairness markets just isn’t doing properly and the real-estate market is going through a downturn, with gold costs outperforming as an asset class within the final 3-6 months is one more reason for the uptick.”


The PayU-backed startup has seen an uptick in gold-based mutual funds throughout the festive season. “Normally we see lower than 10 transactions a month for gold-mutual funds as it isn’t as standard as bodily gold nevertheless it now bumped into just a few a whole lot throughout the weekend.”


Gold costs touched recent highs of round Rs 47,300 per 10 gram (MCX gold value) throughout mid-April in India. However the valuable metallic erased among the positive aspects because the easing of lockdown restrictions in varied international locations has boosted threat urge for food available in the market and resulted in some revenue reserving within the brief time period, stated Sugandha Sachdeva, Vice President (commodity and forex analysis), Religare Broking Ltd. The yellow metallic superior 47 per cent in comparison with final Akshaya Tritiya.


ALSO READ: Govt’s second stimulus doubtless this week, might hold business ready



“Nevertheless, from a medium-term perspective, we’re pretty constructive on gold costs as a consequence of an array of supportive elements—central banks pumping in liquidity, turbulent instances in threat property and oil costs, low-interest-rate setting and powerful funding demand, all of those would hold gold in demand,” Sachdeva stated.


One ought to park not less than 10-15 per cent of their portfolio in gold in a phased method on some declines. The costs might finish the present calendar yr round Rs 52,000 per 10 grams, she added.





Supply hyperlink

Previous Post

FIRSTCASH : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)

Next Post

Pelosi says it's 'perhaps' time to consider universal basic income pushed by Andrew Yang

Next Post
Pelosi says it’s ‘perhaps’ time to consider universal basic income pushed by Andrew Yang

Pelosi says it's 'perhaps' time to consider universal basic income pushed by Andrew Yang

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Gold and Silver Jewelry Market SWOT Analysis by Key Players- Cartier, ENZO, Chow Tai Seng Jewelry

Gold and Silver Jewelry Market SWOT Analysis by Key Players- Cartier, ENZO, Chow Tai Seng Jewelry

Silver Ore Mining Market to Rear Excessive Growth During 2017 – 2025 – NeighborWebSJ

Palladium Weekly: Long-Term Uptrend Remains Intact (NYSEARCA:PALL)

Palladium Weekly: Long-Term Uptrend Remains Intact (NYSEARCA:PALL)

Gold price soars as virus spreads; traders anticipate potential monetary easing

Gold price soars as virus spreads; traders anticipate potential monetary easing

BROWSE BY CATEGORIES

  • Foreign Gold Coins
  • Foreign Silver Coins
  • Gold bar
  • Gold Jewelry
  • Platinum Bars
  • Platinum Coins
  • Silver Bars
  • Silver Jewelry

POPULAR NEWS

  • Miles Standish Designs Miss Liberty Silver Bullion Coins

    Miles Standish Designs Miss Liberty Silver Bullion Coins

    12 shares
    Share 5 Tweet 3
  • Bought Out? Why Shopping for Gold All of the sudden Obtained So Exhausting

    4 shares
    Share 2 Tweet 1
  • Palladium Surges above $2,400. Is It Sustainable?

    4 shares
    Share 2 Tweet 1
  • Gold positive factors safe-haven luster as jobless claims contact document

    3 shares
    Share 1 Tweet 1
  • Gold-Backed Cryptocurrencies Develop Premiums as Gold Demand Soars

    3 shares
    Share 1 Tweet 1
  • Concerns rise over fake gold in Saudi Arabia

    2 shares
    Share 1 Tweet 1
Gold Investment Portal

Follow us on social media:

  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact

Recent Posts

  • Diamond Jewelry Market Size 2021
  • Bitcoin sell-off over? Strong ‘buy the dip’ signal flashes for the first time in 5 months

Recent News

Gold and Silver Jewelry Market 2021 Industry- Emerging Trend, Top Players, Revenue Insights to 2027 – Splash Radio Wales

Diamond Jewelry Market Size 2021

Bitcoin sell-off over? Strong ‘buy the dip’ signal flashes for the first time in 5 months

Bitcoin sell-off over? Strong ‘buy the dip’ signal flashes for the first time in 5 months

  • CCPA – California Consumer Privacy Act
  • Terms of Use
  • DMCA
  • Privacy Policy
  • Cookie Policy
  • About
  • Contact

Copyright © 2020 Gold Investment. All Rights Reserved.

No Result
View All Result
  • Home
  • Gold
    • Gold bar
    • Foreign Gold Coins
    • Gold Jewelry
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Silver Bars
    • Silver Jewelry
    • Foreign Silver Coins
  • About
  • Contact
  • Terms of Use
    • Privacy Policy
    • Cookie Policy
    • CCPA – California Consumer Privacy Act
    • DMCA

Copyright © 2020 Gold Investment. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.