Know why August is one of the golden months for gold prices in India!

gold barEver wondered which month of the year is most accurate to purchase gold and gold jewellery or which is the right time during any calendar year that gives maximum returns? Well, here we have something informative for you today. You know very well that gold is one commodity which has managed to beat inflation since ages and gives higher returns apart from the usability quotient. Apart from that in India it holds a lot of traditional, religious and prestige value as well. You may have also bought and gifted gold during special ceremonies or for various occasions. But have you noticed which month is most productive one for gold purchase and sell. It is- August, the beginning month of festivals in India. From Raksha Bandhan, Janmashtmi to Ganesh Chaturthi followed by Dushhera and Diwali, this month holds a higher sell-purchase of gold comparing to other months.

According to the reports, gold prices tend to notch high during festivity that starts from August. As per last six years detailed analysis for gold prices in India it is informed that, “Gold has notched the highest single month per cent age returns on two occasions namely August 2013, a stupendous gain of 17.6 per cent, and August 2011, a similar performance a gain of 17.4 per cent.” In 2011, gold prices in India registered its life-time high. It had zoomed to a high of Rs 35,074 on 28 August, 2011. In fact, “August is the only month in which Gold prices has logged more than 5 per cent gain on five out of six times. The 2008, 2010 and 2012 August months the returns stood over 5 per cent each.”

Companying August in the same section, September had also registered higher gold prices. Analysis reveals that the third-quarter of any calendar year, September quarter in which the month of August falls has also witnessed sharp appreciation in gold prices. “During the September 2011 and 2011 quarters, gold rates had logged superlative gains of 19 per cent and 18 per cent, respectively. So far this quarter, gold prices have gained a mere 3.1 per cent.” While talking about fall in rates of this precious yellow metal, the commodity collapsed over 12.7 per cent on June 2013 quarter.

The current gold rate is approx Rs 28,324.00 per 10 grams, recorded on August 14, 2014. Now if you are looking to sell or purchase gold or gold jewellery than consider above facts. You can easily conclude that yes indeed August is one of the golden month for gold prices in India.

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