“Opportunity is missed by most people because it is dressed in overalls and looks like work”.
We all know that for Indians gold is a hedge or an investment option. For us, gold is an important part of our culture and traditions. People in India prefer the pure variant of yellow metal i.e the 24K gold for the investment purpose. Just like your home, which is most of the time not an investment but it is handed over from one generation to another, gold is also possession and precaution during emergencies where gold is one of those assets that can help in your rainy days.
However, with time the methods of investing in gold have changed. And nowadays people prefer to invest in Digital Gold if the prime motto is an investment.
“I like gold because it is a stabilizer; it is an insurance policy.”
–Kevin O’Leary (Canadian Businessman)
“Gold is the money of Kings”. Gold has a significant immensity in India. We as a whole love to wear gold jewels and in fact, they turned out into materialistic trifle. Be that as it may, shouldn’t something be said on gold as an investment.
You can buy gold in a different form other than physical form. You can get Gold as a mutual fund, you can even buy gold bonds and the trend of digital gold. The gold fund offers investors the convenience of buying pure gold at a low cost. You buy gold in the form of units and these units will be linked to market prices and you can sell gold whenever you want.
Holding the gold in physical form involves high cost and less safety. Sometimes making charges will be as high as 14-18% of the cost of gold. Buying gold in the form of bars and coins also falls under this category. “Gold Saving Schemes”- where you deposit a fixed amount of money on a predetermined basis and on the maturity of a time period, you’ll buy the gold.
These funds invest in gold. The product called a Gold Exchange Traded Fund (ETF) was launched in 2007 and became popular as investors saw it as a good deal. You get these for a lower cost than buying physical gold and offer a 100% purity with no making charges. You buy a unit of gold ETF at the current market price of gold. One unit of ETF is equal to 1 gram of gold. You need to have a de-mat account to invest in gold ETFs. Gold funds allow a minimum investment of Rs 1,000 (as monthly SIP).
Sovereign Gold bonds are the government securities issued by RBI(Reserve Bank of India). They are denominated in terms of grams. The investors can avail it through paying cash and on maturity the gold will be redeemed for cash.
Digital gold is relatively very new to the market. It is very simple and transparent to buy and sell gold instantly. Physical gold has limitations on safety and security issues. But there is another gold investment option that overcomes all the challenges of holding physical gold and that option is “Digital Gold”.
Are you looking for the best platform to make a gold investment then, MyWay Wealth is your solution.
In Addition to 24k Gold, you can also invest in Gold with another option on MyWay Wealth. i.e. you can invest in Gold Funds through SIP where you can gain appreciation in gold value without the hassle of owning physical gold. You can start investing in gold with as less as Rs 500.
Embrace your investments through MyWay Wealth!