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Akshaya Tritiya 2022: Planning to buy gold on the auspicious day? Check 5 best ways to invest in gold
At the current price of around Rs 50,000 per 10 grams in the bullion market, the demand for the yellow metal is unlikely to remain upbeat.
Highlights
- Akshaya Tritiya considered auspicious day.
- Good day for buying gold, silver, other metals.
- Gold prices are widely tracked on Akshaya Tritiya.
New Delhi: Akshaya Tritiya is considered an auspicious day for buying gold, silver and other metals. Gold prices are widely tracked in bullion market largely due to token purchases on the auspicious occasion of Akshaya Tritiya.
Akshaya Tritiya, variously known as Akti or Akha Teej or Akshaya Trutiya, is considered to be one of the most auspicious days for Hindus. It falls on the Lunar day of Shukla Paksha in the month of Vaisakha. As the name suggests, Akshaya Tritiya means the 'third day of unending prosperity'.
Gold in the national capital on Monday plunged Rs 745 to Rs 50,936 per 10 grams in line with the fall in international precious metal prices. At the current price of around Rs 50,000 per 10 grams in the bullion market, the demand for the yellow metal is unlikely to remain upbeat.
Here are the five best ways to invest in gold
Physical gold
You can buy Jewellery from shops which sell hallmarked ornaments, gold coins or gold bars. Coins can be brought either from Jewellers or from banks.
Gold ETF
ETFs have come to be a very good way of investment for those who don’t want to keep physical gold for safety concerns. All you need to have is a demat account. Many gold ETFs are available in the maket where you can buy paper gold. It is the easiest and hassle-free method to maintain gold.
Gold trading through commodity exchange
You can buy gold through future trading from MCX, NCDEX, ICEX. Here too you will have to open a demat account. By paying a minimum brokerage fee, you can trade in gold futures.
Buying through e-Gold
e-Gold is also an electronic form of holding gold. It is slightly different from buying ETFs. Here you are directly the owner of the gold while in ETFs the holding company is the owner of the gold. The process is more or less similar to buying ETFs.
Equity based Gold funds
You can invest in mutual fund schemes which has its exposure in companies engaged in gold mining, processing, extraction and marketing. All you need to have is a demat account.