Gold is one of the most preferred traditional investments for Indians, and Akshaya Tritiya is a day when many people prefer to purchase gold for various purposes, such as investment, weddings, and other festive occasions. Here are different mediums through which you can invest in gold on this Akshaya Tritiya.
Physical gold: The most common and traditional way of investing in gold is by purchasing physical gold in the form of coins, ingots, or jewelry. You can purchase gold coins or jewelry from a trusted jeweler or a bank. Physical gold is considered a safe investment as it is tangible and can be easily sold. However, you should be careful while purchasing physical gold as there are chances of adulteration in gold. Therefore, always buy gold from a trusted source.
Gold ETFs: Gold Exchange Traded Funds (ETFs) are another popular way of investing in gold. Gold ETFs are mutual funds that invest in physical gold. The value of these funds is directly linked to the market price of gold. Gold ETFs can be purchased through a demat account, and the investment can be done online. Gold ETFs provide a cost-effective and convenient way of investing in gold.
Sovereign Gold Bond: Sovereign Gold Bond (SGB) is a government-backed investment scheme that allows investors to invest in gold in a paper form. SGBs are issued by the Reserve Bank of India (RBI) on behalf of the Government of India. The value of these bonds is linked to the market price of gold. SGBs provide an annual interest rate of 2.5% and can be redeemed after a period of eight years. SGBs can be purchased from authorized banks or financial institutions.
Gold Mutual Funds: Gold Mutual Funds are another way of investing in gold. Gold Mutual Funds invest in companies that are engaged in gold mining and related activities. The value of these funds is linked to the performance of these companies. Gold Mutual Funds can be purchased through a demat account, and the investment can be done online.
Digital Gold: Digital Gold is a new and innovative way of investing in gold. Digital Gold allows investors to invest in gold in small quantities through a mobile app or a website. Digital Gold is offered by various companies, and the gold purchased is stored in a secured vault. The value of digital gold is linked to the market price of gold.
You can use various mediums to invest in gold on this auspicious day. You can choose the medium that suits your investment needs and preferences. However, before investing, always do your research and invest in gold from a trusted source to ensure the safety of your investment.
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