INDIA, Jan 08 — Gold is a popular avenue of investment and is generally bought as hedge against inflation and economic crisis. It has a cult following in India where it is considered to be a symbol of Goddess Lakshmi and an epitome of wealth and prosperity. Although gold prices have gone through the roof in recent years, Indians continue to be major buyers of gold across the world. Here 1 unit of ETF is equivalent to 1 gram of gold
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old is a popular avenue of investment and is generally bought as hedge against inflation and economic crisis. It has a cult following in India where it is considered to be a symbol of Goddess Lakshmi and an epitome of wealth and prosperity. Although gold prices have gone through the roof in recent years, Indians continue to be major buyers of gold across the world.
You can invest in gold in many ways. It can be bought in the form of jewelery, coins or bars or through ETFs. The purpose of your purchase determines the form of holding.
Jewelery: Jewelery is the traditional and most popular way to own gold in India. However, it is a comparatively expensive way to invest in gold due to incidental charges or costs associated with it. Jewelery has making charges which adds around 5% of the cost. Also, you need buy a locker or pay rent for bank locker to keep gold in physical form. This further adds to the cost of buying jewelery. It is better to jewelery if you intend to wear it. But if you intend to use it for investment, it defeats the purpose due to high costs associated with it. Also ensure that you buy KDM or hallmark gold jewelery to ensure purity.
Gold coins & bars: Coins and bars are also a popular way to invest in gold. You can buy them from any jeweler, banks or even from post office. Although, it is a convenient way, it is not a prudent one. Coins and bars come at a premium from the gold rate prevailing in the market which is more than 10%. Also, in many cases, it is difficult to sell them and is generally sold at a discount.
Gold ETF: Gold ETF is emerging as the most convenient and cost-effective way to invest in bullion. It tracks the price of gold and is traded on stock exchange. Here 1 unit of ETF is equivalent to 1 gram of gold. Also, you do not have to worry about storage and purity issues.
References
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‘remember years ago a friend invested in gold, we all laughed at him...whose laughing now?
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