We Indian’s love gold, something genetically implanted on us by our forefathers or because we see it as an alternate investment plan.
We like to flaunt it wearing it as an ornament and sell it when we run short of money.
It serves the purpose rightfully .
So what if you want to buy gold only as an investment and not to flaunt ?
Well , all you have to do is invest in E-gold and sell it when you see a price increase.
Like stocks and mutual funds even gold can be bought online and traded .
Mobile payments platform like Paytm, PhonePe, and Google Pay has started trading 24k gold online collaborating with MMTC (Metals and Minerals Trading Corporation of India).
You register on the app with all required documents and you can start trading gold.
The best part here is you can buy gold even for Rs 1
The gold is 24k gold (99.9%) , which is the purest form of gold.
After you buy gold, MMTC will create a secure vault ( Gold locker) where it stores gold and accounts for all your gold tradings. There are gold locker charges for few platforms and for few there are no charges up to 5 years. And after 5 years you either have to sell the gold or convert the gold into coins or bars and get it delivered.
I will take this current 2020 pandemic situation, there are people who always look for investments to keep their money rolling and make money in any situation. So when all markets and industries fell people will jump onto gold or any metal and keep accumulating. That is why during recessions people accumulate tradeable metals like gold or steel.
These trends will follow even when there is currency fluctuation with rupee and dollar and when oil prices fluctuate or anything. People with money will always look for things to keep their money rolling. So gold is always a good investment.
Demand for gold will is always there in India because you know it is part of our culture to accumulate gold.
And investing in digital gold will make it secure, you don’t need to find a place to secure. You can buy 24×7 and you can liquidate it with a click.
During pandemic gold hit Rs 50000 mark for 10gms, so if you had bought gold back in 2019 for say Rs 42000 10gms. It is a return of more than 10%.
It all an investment option you can look into, always see what works for you.
Stay tuned….
