Dhanteras, which marks the beginning of the first day of the five-day Diwali festival, is considered to be the time to buy gold and silver. It also marks the beginning of the biggest wedding season. Buying gold on auspicious occasions is part of the Indian tradition. So which type of gold should you choose this Dhantrayodashi? You can buy traditional gold jewelry or choose digital gold or gold ETFs of gold funds depending on your budget and needs, and of course not forgetting the investment horizon as well.
Here are five smart ways to invest in gold in Dhanteras 2023
Digital gold
Digital gold is a means of investing in physical gold. It’s just like regular gold, it can be bought online, and the seller stores it in insured vaults on behalf of the customer.
“This Dhanteras, we encourage Gen Z and millennials to consider investing in digital gold as it offers the advantage of buying in small quantities, on EMIs, and even through UPI payment platforms,” said Mehak Srivastava, Marketing Head at SahiBandhu
Additionally, by consistently investing in digital gold, one can gradually accumulate a collection of elegant jewellery, transforming it into an emotional asset that serves as both an investment and a practical financial instrument. You can also leverage it for gold loans during times of financial need, Mehak added
Gold, a timeless hedge against inflation and economic uncertainty, offers a unique combination of stability and potential understanding.
Gold Exchange Traded Funds (ETFs)
Gold ETFs offer convenient and cost-effective exposure to gold price movements. Gold ETFs prove to be cheaper for investors because there are no exit loads.
“They are traded like stocks, they eliminate the hassles of physical storage and charging,” said Veer Mishra, Co-Founder of Plus
Sovereign Gold Bonds (SGBs)
SGBs provide guaranteed interest returns along with appreciation in the price of gold. They offer tax benefits and are suitable for risk-averse investors looking for regular income.
Gold Funds
Gold Funds invest in gold ETFs. One can start investing in Gold Fund with a minimum of Rs1,000. “These mutual funds invest in gold ETFs, offering a diversified approach to gold investing. They provide professional management and are suitable for those with a longer investment horizon,” said Veer Mishra.
Gold Ornaments
For those with a traditional preference, buying gold ornaments offers the double benefit of investment and decoration.
However, consider charging, resale value, and storage costs, suggested Co-Founder Plus
Gold is a long-term investment, so choose the option that aligns with your risk appetite, investment goals, and financial situation.
Disclaimer: The opinions and recommendations made above are the opinions of individual analysts, and not those of Mint. We encourage investors to check with certified experts before making any investment decision.
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Updated: 08 November 2023, 02:47 PM IST
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