AN EMPIRICAL CONJECTURE ON THE PERFORMANCE OF GOLD PRICE DURING AKSHAYA TRITIYA

Abstract

Gold is primarily a monetary asset and partly a commodity. As much as two thirds of gold‟s total accumulated holdings relate to “Store of value” considerations. Gold is valued in India as a savings and investment vehicle and is the second preferred investment after bank deposits. India is the world‟s largest consumer of gold in jewellery as investment. Akshaya Tritiya which is widely celebrated in all parts of India by various communities of the society irrespective of their religious faith and social grouping, literally means one that never diminishes, and the day is believed to bring good luck and success. Thus this article brings out the picture of changes in gold price during Akshaya Tritiya and its impact in gold consumption