Akshaya Tritiya: Why this is the right time to invest in gold?
On the occasion of Akshaya Tritiya, many jewellery stores in the city are offering great deals on gold purchases.And if you don't plan to buy gold jewellery, we let you in on why investing in gold ETFs is the latest trend this season.
Akshaya Tritiya, also known as Aakha Teej, is one of the most auspicious days in the Hindu calendar. Gold purchases are considered extremely significant on this auspicious day as it embodies the belief in Hindus about eternal fortune. Since, gold is considered the ultimate symbol of wealth and prosperity, Akshaya Tritiya accounts for a very high sale of gold on this day every single year.
It is an age old tradition to buy gold during Akshaya Tritiya, and attain everlasting prosperity to reinforce this tradition across the country. On this occasion Head of Marketing, World Gold Council, Madhumita Dutta, says, “Investment in gold has proved itself as the best hedge against inflation and the various economic factors that can deplete one’s wealth. To reinforce this message on the occasion of Akshay Tritiya, we are promoting gold by showcasing the variety and versatility of this marvelous metal, but also as a safe investment option with healthy returns.”
Celebrating the occasion of Akshaya Tritiya, another jewellery brand Tanishq is offering upto 15% off on diamond jewellery and upto 25% off on making charges of plain gold jewellery. Speaking about the offer Sandeep Kulhalli, Vice President, of Tanishq says, “We ensure to be a part of all celebrations/ occasions by offering wide range of collections, exquisite designs and attractive offers. In India, buying gold for Akshaya Tritiya is believed to bring in success and wealth. In sync with our customer sentiments.”
Tanishq jewellery for ‘Akshaya Tritiya’ consists of all hues blending tradition and modernity evolving tastes and preferences of the modern day customers. In line with the propitious of the occasion, the brand’s offering for Akshaya Tritiya symbolizes prosperity and good fortune. Some jewellers like Reliance Jewels have even introduced a special collection comprising of several stunning new designs in gold and diamond jewellery which includes kundan, polki, ruby emerald, Hyderabadi polkichakri, designer Antique, bridal collection and exclusive diamond Jewellery. This Akshaya Tritiya, lovers of this brilliant metal are sure to be spoilt for choice at the jewellery stores, which is bound to add a touch of glow to your day with ‘gold’.
If you don't plan to buy gold jewellery this Akshaya Tritiya, here's why you should consider investing in Gold ETFs
Investing in Gold ETF lets you buy small units of gold at various prices, to provide the benefit of cost averaging. For ETFs, the rates are pretty transparent as they are linked to international prices.Physical gold attracts wealth tax whereas Gold ETF is exempt from wealth tax. Thus Gold ETFs offer a convenient, safe and hassle-free investment opportunity in gold, besides reduced expenses.
The value of the Gold ETF is based on the price of gold. The price of one unit of Gold ETF would be equivalent to the price of 1 gram of gold. When you buy Gold ETF you have to pay only the brokerage charges, which is usually around 0.5 per cent vis-à-vis shelling out between 10 and 20 per cent as premium and/or making charges if you buy physical gold. To store physical gold, you may incur locker and insurance charges. For ETFs, you pay the annual fund management charges of approximately 0.5-1 per cent. Investors also have the option to convert to physical gold provided by certain vendors. Thus, it is an easy and hassle-free way to invest gold.