Hi Everyone! Wishing you all a prosperous and auspicious Dhanteras
Buying gold on Dhanteras is considered auspicious and is believed to bring wealth and prosperity all through the year. Here are some key points to consider for wise gold investment on Dhanteras:
- Gold demand in India is on the rise. Gold demand in India stood at 210.2 tonnes in Q3 2023, reflecting a rise of 10% against demand in Q3 2022. This trend is expected to continue in the coming years, driven by factors such as rising income levels, increasing urbanization, and cultural significance.
- Alternative gold investments offer convenience and tax benefits. While investing in gold coins, bars, and jewelry is popular, you can also consider alternative gold investments such as gold stocks, gold ETFs, and Sovereign Gold Bonds (SGBs). These investments offer convenience, liquidity, and tax benefits, making them a good choice for investors with different risk appetites and investment goals.
Here is a brief overview of the different alternative gold investment options:
- Gold stocks: Gold stocks are a way to invest in gold indirectly. They are shares of companies that are involved in gold mining, exploration, and production. Gold stocks can be a good way to generate attractive returns in the long run, but they are also more risky than other gold investment options.
- Gold ETFs: Gold ETFs are exchange-traded funds that track the domestic physical gold price. They are a passive investment tool that invests in gold bullion. Gold ETFs offer guaranteed purity of the gold, liquidity, and tax benefits.
- Sovereign Gold Bonds (SGBs): SGBs are government-issued bonds that are backed by gold. They are a good option for investors with a low-risk appetite. SGBs bear interest of 2.50% (fixed rate) annually on initial investment.
Gold investment can be a good way to diversify your portfolio and hedge against inflation. However, it is important to choose the right gold investment option based on your risk appetite and investment goals.
To learn more about gold investment options and choose the right one for you, check this out:
Disclaimer: This post is for educational purposes only and does not constitute financial advice. Please do your own research before investing in gold or any other asset class.