As India celebrates Akshaya Tritiya, a day when people buy gold for religious reasons, investors are questioning the prudence of putting their money into gold due to its record high prices. A Kotak Securities report suggests that Indian jewellery demand may falter as a result of these high prices, but that demand for gold from central banks and through exchange-traded funds (ETFs) may remain steady. Some experts expect gold to remain bullish, with prices potentially rising until the next Akshaya Tritiya festival, while others expect volatility on the MCX over the rest of 2023.
