Hello friends. Today, We will see Best ways to invest in digital gold. Gold is the best investment for the long term to beat inflation. Many investors invest in gold. if you don’t want to buy physical gold. There are many ways to invest in gold other than physical gold like gold ETF, gold sovereign Bond, Gold Saving Scheme,digital gold wallet.
Expert advice for Gold investor.
Invest at least 5 to 10% of your portfolio in Gold.
Decide the purpose of purchasing gold. Many people purchase gold for marriage, retirement and alternatives for emergency money.
The increase and decrease in the price of gold depends on the Global markets. Buying gold in a staggered way or SIP is very good for averaging the price.
Best ways to invest in digital gold
ETF means an exchange traded fund. This fund is listed in the share market like other funds. You can book an order to your broker for purchasing a gold ETF. Anyone can buy and sell gold ETF through your Demat account. There are many Gold ETFs of different fund houses listed in the share market.
You will need a Demat account to invest in Gold ETF.
You can buy a gold ETF in grams. you can invest with a minimum one gram gold ETF.
The expense ratio for gold ETF is nearly 1% per year.
Purity of gold is 99.50% and more.
You can invest in a Gold ETF with a monthly SIP. Fixed amount of money is invested in a Gold ETF every month automatically.
when you sell gold ETA of units after 1 year year, Profit is assumed as Long term capital gain. you need not to pay tax on Profit.
Sovereign gold Bond
It is a very simple way to buy digital gold. Government issues Gold Bonds after Fixed time. you will get a fixed time slot to apply for sovereign gold Bond.
Gold Saving Scheme
Gold Saving Scheme is a very good option for investors. You will not get any interest from storing gold in the locker. Anyone can get interest by investing in Gold Saving Scheme. You can redeem gold with the latest gold rates at any time.
Options to buy digital gold
You can buy gold coins, gold bars, and gold chips with the help of an online platform. Paytm payment bank has a digital wallet which can store digital gold.
Stock Holding Corporation of India has given the “Gold Rush” option on their website. You need to pay making charges when you apply for Digital gold. There is no fixed limit to buying gold online. you can buy gold at anytime 24/7.
MCX gold is good option for digital gold. MCX means Multi Commodity exchange. You can see kitco gold price, gold sopt price, gold future price for 3 months expiry. There are different gold related charts are available for analysis and purchase Gold.
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Author of this article is “Pranav Divekar”.