According to Vedic writings, Lord Buddha is an embodiment of Lord Vishnu who taught the essence of non-violence and kindness. Buddha Purnima is observed every year with a lot of enthusiasm to celebrate the birthday of Lord Siddhartha Gautama, also known as Lord Gautam Buddha. Not only do people worship Lord Buddha’s idols on this auspicious day but also buying gold is believed to bring more prosperity.
Gold prices tumbled in the last two days, making it the perfect time to invest in digital gold. myDigiGold is the name you can trust for hassle-free gold transactions. We have made the process of creating value and wealth simple, secure and systematic. We are even offering ₹50 worth of free gold on all digital gold purchases (valid from 23rd May 2024 to 24th May 2024).
A Closer Look at Gold Price’s Performance on 22nd May
The prices of spot gold fell sharply by 1.7% on 22nd May and touched $2378/oz. The hike in US Treasury yields and strengthening of the US dollar index has put some more pressure on dollar-denominated bullion prices. “The US 10-year Treasury bond yield edged up 2 basis points to 4.434%, while the US Dollar Index, which tracks the Greenback’s performance against a basket of six other currencies, is up 0.3% at 104.93, a headwind for gold.”
It was observed during FOMC minutes that Fed officials were still unsure about the degree of policy restrictiveness. They even predicted that it might take more time to gain greater confidence with inflation moving sustainably to 2%. Key resistance of spot gold was observed at 2390 on 22nd May and crucial support was noticed below 2370.
Feel Blessed On Buddha Purnima With Digital Gold Purchase
You can bring more prosperity to your life on the auspicious occasion of Buddha Purnima and enlighten your future with digital gold. myDigiGold is a trusted name for digital gold purchase with a seamless shopping experience. We are even offering ₹50 worth of free gold on all digital gold purchases (valid from 23rd May 2024 to 24th May 2024).
You can redeem the purchased gold online by visiting our website or at any of our 150+ Senco stores spread all across India. Buddha Purnima is also an auspicious time to start your SIP Gold Investment. It is a hassle-free, smart, safe and easy way to accumulate 24K 99.5% pure gold in small amounts on a daily/weekly/monthly basis through SPP.
Disclaimer: The data provided on this blog is for general informational purposes only. It is based on our research and understanding, and we cannot guarantee its accuracy or reliability.