GOLD prices traded higher on the Multi Commodity Exchange (MCX) on Monday (March 20). The Gold futures, maturing on April 5, 2023, were up 1.20% at 60094.00 on the MCX at around 14:49 IST today. The current price has taken the year-to-date (YTD) gain to over 4%. Traditionally, Gold has held a special place in India’s culture and tradition and Indians have a special love for the yellow metal.
The precious metal is considered a hedge against inflation, this is because the non-yielding bullion is known to preserve its purchasing power for long periods of time. When interest rates go up, the opportunity cost of holding gold is higher. In the current scenario when global equities are facing a difficult time and investors are showing an inclination towards the safe-haven asset, here are 5 different ways you can invest in Gold.
For Indians, buying gold jewellery is the most known way to invest in gold, particularly in rural areas and small towns. This is mainly due to the lack of awareness about other popular ways to invest in gold.
However, it is always advisable to take care of certain things before you step outside to buy gold jewellery. These include the credibility of the jeweller, maintenance costs and other charges, taxes, etc.
As an asset, Gold can help you create a secure portfolio for your financial goals due to the reliable returns it offers even during challenging times when market volatility is high.