Akshaya Tritiya 2021: Five ways to buy gold
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Akshaya Tritiya 2021 is here
The festival is considered an auspicious occasion by many to make purchases, especially precious metals. India has continued to import gold in huge quantities in recent history to fulfil its insatiable demand for the yellow metal. However, the coronavirus pandemic has changed the situation this year too. Here are five ways to purchase gold this year.
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Buying physical gold
It is as simple as paying in cash and purchasing the jewellery from the local jeweller. However, lockdowns in several parts of the country have made this option out of reach for consumers.
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Investing in gold ETFs
Gold ETFs do not enjoy much popularity in India, at least as much as international markets. Hence, this option is ruled out for Indian investors.
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Gold Accumulation Plans (GAP)
One can buy gold online via mobile wallets such as Paytm and Phonepe, under the Gold Rush plan of Stock Holding Corporation of India. These gold buying options are offered either in association with MMTC-PAMP or SafeGold, or both.
This option can be chosen by investors, who can take the delivery once the lockdown restrictions are lifted opens.
This option can be chosen by investors, who can take the delivery once the lockdown restrictions are lifted opens.
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Sovereign Gold Bonds
The Government of India introduced the Sovereign Gold Bond Scheme (SGB) to discourage buyers from buying physical gold.
This option helps investors earn interest. Sovereign gold bonds have a tenor of eight years, with investors having the option to exit after the fifth year on interest payment dates.
This option helps investors earn interest. Sovereign gold bonds have a tenor of eight years, with investors having the option to exit after the fifth year on interest payment dates.
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Futures/options platform
This option is purely from a trading perspective, wherein one wants to trade in gold by keeping margins in their accounts and benefit out of price volatility.