Gold Buying Options: The tradition of buying gold during festivals has been going on in our country for centuries. That is why the demand for gold increases significantly during the festive season. Buying gold is not just limited to a tradition but it is also considered a safe way of investment. Today, there are many other ways to buy gold in the market apart from jewelry. If you are also thinking of buying gold this festive season, then let us tell you about some traditional and new ways of buying gold.
Sovereign Gold Bond (SGB)
Sovereign Gold Bonds issued by the government are a good option for investing in gold. You also get a fixed interest on SGB. However, these are not easily available. The government periodically creates a window for the sale of new SGBs. This happens about once or twice a year, and the subscription window remains open for about a week. However, if you want to invest in it, you can buy the previously issued SGB from the secondary market.
Digital gold
Digital gold is a new and convenient way to buy gold. In this method, you can buy gold through online platforms. For this, payment apps like Paytm, PhonePe, and Google Pay can be used. The best thing about this option is that you do not need a large amount to buy gold, you can start buying gold even with just Rs 1. That is, the advantage of buying digital gold is that it can be bought and sold in small parts.
Gold coins
To invest in gold, you can also buy gold coins. These coins are available at jewelers, banks, and e-commerce websites. Every gold coin is hallmarked by BIS. Coins weighing from 0.5 grams to 50 grams are available in the market. Investors are advised to buy it in tamper-proof packaging so that they do not fall prey to fraud and forgery.
Gold ETF
Gold Exchange Traded Fund (ETF) is an open-ended mutual fund scheme that invests in gold bullion of 99.5% purity. This method allows you to buy gold as well as trade it like a stock. That is, these funds trade on the stock exchange like the shares of a company. Investors can buy or sell units of Gold ETF from the stock exchange at any time. The advantage of investing in gold in this way is that there is no fear of theft like physical gold.
Gold savings plan
Nowadays many jewelers are offering gold savings plans to customers. In this method, you can deposit a fixed amount every month. By adding a bonus to the deposited amount, you can use this amount to buy gold from the same jeweler. Through this plan, you can save a little every month and raise a large amount.
Gold jewellery
The most traditional way to buy gold is to buy jewellery. However, one has to keep in mind the making charge as it can increase the price of the jewellery. The making charge also varies according to the design of the jewellery. While buying jewellery, definitely look for the hallmark.
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