Most Indian women like the shine of gold. Some collect it as jewellery, while others consider it a means of protecting themselves and their family’s future. The method used by all is the same – to increase the number of gold jewelery in the safe. According to a report by the World Gold Council, India has about 24,000 tonnes of gold, out of which 21,000 tonnes is owned by Indian women. This much gold is not even in the total reserves of central banks of many countries. About 80 percent of the total gold in Indian homes is in the form of jewellery. But, is investing in gold jewelery really beneficial? It is important to pay attention to many expenses like their care, security and manufacturing charges. Therefore, it is necessary to make some changes in the ways of investing in gold.
New ways to invest
- Coins instead of jewellery: If you want to invest in gold, then buying gold coins or bars is a better option than buying jewellery. You can buy these from banks, jewelers or online platforms. Due to this, neither additional manufacturing charge has to be paid nor there is any deduction on sale.
- Digital Gold: Digital gold is a modern investment option that does not require you to hold physical gold. You can invest with just Rs 10 per day and can also choose the SIP option.
- Gold ETF: Investing in Gold ETFs (Exchange Traded Funds) is also a good option. For this you need a demat account, in which you can buy and sell gold like shares. With this you do not have to worry about the safety of your gold.
- Gold Mutual Fund: If you are not afraid of taking risks, then invest in gold mutual funds. There is a chance to earn more profits by investing in it for a long time. You need to select the right gold fund.
- Sovereign Gold Bond: If you want to invest in rising gold prices, but do not want to burden your treasury, then Sovereign Gold Bond (SGB) is a great option. These are issued by the central bank, the Reserve Bank of India. In this you can invest in gold from 1 gram to 4 kg. Apart from this, along with the returns of this scheme, you also get interest every year.
