The festival of Akshaya Tritiya falls on 7th May. There’s a tradition of buying gold on this festival in India on this particular day.
If you are planning to buy gold, here is an expert guide for you to understand more about gold investment and how to make profits on it.
Angel Broking Commodity Expert Anuj Gupta explains how you can make maximum profits off of gold this Akshaya Tritiya.
Will investing in gold be profitable this year?
People buy gold on the auspicious day of Akshaya Tritiya. Gold rates have been in a slump since January 2019. So it’s a good opportunity to buy gold this year.
What is a good option to invest in gold? Physical gold, Exchange Traded Funds, or electronic bonds?
Earlier, one could invest in gold in physical form only. But now there are many options. There is ETF, Gold Bond and one can buy anywhere from 1 gram to 1 kilogram of gold under MCX (Multi Commodity Exchange).
Will the prices of gold rise or dip?
We can earn a 6 -7 percent return on gold every year. Good rates are expected on gold this year considering the political and geopolitical situation as well as crude prices and Fed interests.
Good returns are expected on gold in the next one year if you buy gold right now.
Gold is considered a bad investment. So why invest in it?
Gold is considered to be a debt investment. It is generally sold when one is in trouble. But if we invest in gold for investment purpose then one must seek good profits on it. Like equity and mutual funds, it should be treated as an investment commodity.
What should you remember when you’re buying gold?
It’s important to check the quality of gold. Try to make sure you get Hallmark gold when you buy it. It may be a little expensive but the resale value of Hallmark gold is better.
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