It’s that time of the year when many Hindus believe it is auspicious to buy gold. This may be a good time to tweak tradition and marry it with great returns -- by investing in digital gold products instead of coins, bars, or jewellery
The first day of Diwali is celebrated as Dhanteras in many parts of the country. It is considered auspicious to buy gold on this day, and there is invariably a rush at jewellery stores. What if you had bought gold worth Rs 1 lakh on Dhanteras in 2016. What kind of return will you get if you want to sell that gold now?
While the value of gold has appreciated by approximately 50% in the last five years, your return on investment depends upon how you invested in gold — jewellery (or coins), gold funds, or gold bonds. Based on that, you could see hugely varying returns — from 30% to more than 60%.
India’s love affair with gold is no secret — with import volumes of 800-900 tonnes a year, India is the largest importer of gold in the world. No marriage in the country is complete without purchasing gold jewellery. In addition, in the Hindu calendar, there are several festive days such as Gudi Padwa, Akshay Tritiya and Dhanteras when it is considered auspicious to buy gold.
While the value of gold has appreciated by approximately 50% in the last five years, your return on investment depends upon how you invested in gold — jewellery (or coins), gold funds, or gold bonds. Based on that, you could see hugely varying returns — from 30% to more than 60%.
India’s love affair with gold is no secret — with import volumes of 800-900 tonnes a year, India is the largest importer of gold in the world. No marriage in the country is complete without purchasing gold jewellery. In addition, in the Hindu calendar, there are several festive days such as Gudi Padwa, Akshay Tritiya and Dhanteras when it is considered auspicious to buy gold.