Every Market Analyst is saying or giving recommendations to buy gold every now and then .But we don’t pay any attention to such suggestions given by well known intellectuals.
I still remember 20 years ago , one of our Tennant suggested my mother to buy gold . I still remember his words, ” Aunty g Sona le lo , abhi bahut upar jayega yeh ”
But my mother laughed and told him ,” main Sona nahi khareedungi lekin usi paisa ki FD Karva dungi”
But see 20 years later , the price of gold that was approx 3000 INR has now reached to 73000 INR.
I still wonder she would have listened to him.
Again in 2024, I am saying that you should target to buy gold every 3 months . If possible I would suggest not to buy jewellery But buy just simple gold coin where you would have to give less taxes or making charges so that you can save some money.
The other day, I was reading an article on Moneywise.com where lawyer and investment banker James Rickards has shared his predictions about this yellow metal.
He previously forecasted that gold would reach $15000 per ounce but now he his raising his.prediction which states that he is more optimistic about this metal.
Now you believe me , so here are three ways in which you can buy Gold
1. Buy Gold bullion( coins Or Bars)
The most tangible way to invest in this metal is simply yo buy gold coins or bars.
The primary advantage of buying physical gold is stability and tangibility. In addition to this you have to give less making charge and less taxes. I know keeping physical gold at home will be very risk taking .But here you can avoid this situation if you keep gold in secure boxes and also refrain about telling this to your family members as well. It’s like top secret between you and yourself only
2. Invest in gold stocks / ETFs
Can’t keep secrets so you can invest your money in gold stocks OT ETFs .
Before I tell you which ETFS you should buy , let me tell you How gold companies earn.
So we all now there are big goldmining companies that mine gold. When the price of gold rises, these companies tend to get bigger profits , that increases their stocks value eventually.
Top Gold stocks in India
- Kalyan Jwellers
- Titan Company
- Muthoot Finance
- Rajesh exports
- Thangamayil Jewellery
OK, still not interested so you can go for ETFs (Exchange Traded Funds) that track the performance of gold in different markets across the world.
- Axis Gold ETF
- Birla Sun Life gold ETF
- SBI gold exchange traded scheme
- HDFC gold exchanges trade fund
Precaution: in ETFs you have to give lot of taxes and maintenance taxes you have to give till the lifetime of your investment so be careful.
3. Invest in a gold IRA
According to moneywise.com , “A gold IRA is a specific type of IRA that allows investors to include physical gold and other precious metals in their retirement savings. Gold IRAs are appealing because gold is often seen as a hedge against inflation and economic uncertainty, helping to protect your retirement savings from market volatility.”
Hope you have got enough information about gold.
Thanks for reading this article!!!