India News Get -BusinessDhanteras 2024 Gold Investment Benefits Plans Details | Gold and silver prices
Today, October 29, is Dhanteras. Investing in gold is considered auspicious on this day. Currently, gold is at Rs 78,000 per 10 grams. According to Anuj Gupta, head of commodities and currencies at HDFC Securities, gold can reach Rs 87,000 per 10 grams by the next Dhanteras.
In such a situation, if you are thinking of investing in gold, this could be the right time. Today, on the occasion of Dhanteras, we are telling you about 4 ways to invest in gold. The special thing is that you can start investing even with Rs 1.
1. Physical gold: can buy gold coin cookies Investing in physical gold means buying jewelry or gold cookie biscuits. Experts do not consider buying jewelry as the right way to invest in gold as one has to pay GST and taxes on gold. That’s why you have to pay more money upfront. When you make jewelry, you don’t invest in 24-karat gold because gold jewelry is not made with 24-karat purity. However, you can invest in biscuits or gold coins.
2. Gold Bond: Fixed interest of 2.50% is also available. Sovereign Gold Bond is a government bond issued by the government from time to time. Its value is not in rupees or dollars, but in weight of gold. If the bond is 1 gram of gold, the price of the bond will be the same as the price of 1 gram of gold. Sovereign Gold Bond offers a fixed interest of 2.50% each year on the issue price.
Buying is easy: To buy gold bonds, you need to open a demat account with a broker. In this, you can buy units of gold bonds available on NSE and the equivalent amount will be deducted from the bank account linked to your demat account. Investing can also be done offline.
3. Gold ETF: Can buy and sell on the stock market The ability to buy stocks similar to gold is called Gold ETF. These are exchange-traded funds, which can be bought and sold on stock exchanges. Since the benchmark of a gold ETF is the spot price of gold, you can buy it at a price close to the actual price of gold.
Demat account is required for investing: To buy gold ETFs, you need to open a Demat account. In this, you will be able to purchase shares of Gold ETF available on NSE or BSE and the equivalent amount will be deducted from the bank account linked to your Demat account.
4. Payment App: You can also buy gold worth Rs 1 You can now invest in digital gold directly from your smartphone. There is no need to spend too much money on this. You can buy gold at any price as per your convenience. Even from Re 1. This feature is available on platforms like Amazon Pay, Google Pay, Paytm, PhonePe and MobiKwik.
Gold has returned 55% over the past 5 years Investing in gold is beneficial in the long term. If we talk about the last 5 years, gold has given a return of 55%. That means 11% per year. In October 2020, gold was at Rs 50,605 per 10 grams, which has now reached Rs 78,177. Apart from this, according to experts, due to the ongoing geopolitical tensions in the world, the rise in the price of gold will continue and it could go up to Rs 87 thousand by the next Dhanteras.
Keep These 4 Things in Mind When Buying Gold
1. Buy only certified gold: Always buy certified gold bearing the Bureau of Indian Standards (BIS) mark. There is a 6 digit hallmark code on the gold. This is called the Hallmark Unique Identification Number, i.e. HUID. This number is alphanumeric, that is, something like this – AZ4524. Thanks to hallmarking, it is possible to know the number of carats of gold.
2. Check the price: Check the exact weight of gold and its price on the day of purchase from several sources (like the India Bullion and Jewelers Association website). The price of gold varies according to 24 carat, 22 carat and 18 carat.
24-karat gold is considered the purest gold, but it is not used for jewelry because it is very soft. Typically, gold of 22 karats or less is used for jewelry.
Suppose the price of 24 carat gold is Rs 78,000 per 10 grams. This means that the price of 1 gram of gold was Rs 7,800. In such a situation, the price of 1 gram of gold of 1 carat purity was Rs 7,800/24 i.e. Rs 325 .
Now suppose your jewelry is made of pure 18 carat gold, then its price is 18×325 or Rs 5,850 per gram. Now, the exact price of gold can be calculated by multiplying the number of grams of your jewelry by Rs 5,850.
3. Don’t pay in cash, take bills: While buying gold, it is better to pay through UPI and digital banking rather than cash payment. If you wish, you can also make payment by debit or credit card. After that, don’t forget to take the bill. If you order online, definitely check the packaging.
4. Know the resale policy: Many people consider gold as an investment. In such a situation, it is important that you have complete information about the resale value of gold. Also discuss with store employees the specific jeweler’s buyback policy.
Limited investment in gold is beneficial
Anuj Gupta, head of commodities and currencies at HDFC Securities, says limited investment should be made in gold. Only 10-15% of the total portfolio should be invested in gold. Investing in gold can keep your portfolio stable during a crisis, but in the long run, it can reduce your portfolio returns.
India consumes 800 tonnes of gold every year
800 tonnes of gold are consumed every year in India. 700 to 800 tonnes of gold are consumed every year in India, of which 1 tonne is produced in India itself and the rest is imported into households, according to the World Gold Council. of India in 2019 More than 25,000 tonnes of gold. According to 2021 data from the Department of the Treasury, the U.S. Treasury contains 8,000 tons of gold. Gold is a “Nobel” metal, meaning it does not rust or lose its luster. Other “Nobel” metals include ruthenium, rhodium, palladium, silver, copper and platinum. Gold is the 58th rarest element on Earth. The first gold coins were minted in Lydia between 700 and 650 BC. They were made of electrum, a natural gold alloy.
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