Should Gold be bought on Akshaya Tritiya

Today we have the auspicious occasion of Akshaya Tritiya, It is considered to be an  auspicious day for buying precious metals in the Hindu culture.Most of people will be buying Gold as "Shugan" but should you invest heavily in Gold now as it has come down from high of 33K to low of 26K. My answer is No, Let me put down my reasoning.

• Technically Gold is trading below its 200 DMA, which suggests its in Bear market.Once the Support of $1427 is broken , Gold will see a free fall. Level as low as 1200$ can be seen.

Gold prices have slipped almost ..

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