Planning to invest in gold every month? Know the best options for beginners
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Monthly investment in precious metals?
Are you looking to invest a small amount in gold every month? Here’s what beginners should know, as reported by ETWealth.
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Limited monthly budget?
If you’re starting with a limited monthly budget, the key is to choose a gold investment that is safe, low-cost, and easy to accumulate over time, according to Sumit Duseja, Co-Founder & CEO, Truemind Capital.
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Key considerations
Since you’ll eventually want to redeem your investment, liquidity is an important factor to consider. Keeping this in mind, starting a monthly SIP in gold mutual funds is best for beginners, Duseja said.
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Gold mutual funds
Gold mutual funds invest in gold ETFs, offering exposure to gold prices without requiring a demat account. Gold mutual funds are professionally managed with no storage or purity concerns and are easy to redeem, the expert said.
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Investing with a demat account?
The expert said that if you already have a demat account and are comfortable placing trades, gold ETFs are another efficient option. They generally have lower costs, although you’ll need to set up your monthly investments through your broker.