Mumbai: Akshaya Tritiya is around the corner buying gold on this day is widely considered to be auspicious. Gold bought on this auspicious day 10-20 years ago has earned double-digit returns. But returns have diminished in recent years and the metal is no longer a hedge against inflation.
Many view the event as a good opportunity to invest their money. However, in terms of buying gold as an investment, the scenario has undergone a change with the annualised returns going down by more than half in the past 20 years. Over the last three years, gold has fetched a lower return of 4.68 per cent from 10.05 per cent earlier.
However, rising oil prices and geopolitical tensions could push up gold in 2018.