Dussehra is celebrated in different parts of India for commemorating the victory of good over the evil. In fact, a number of stories are attached to this auspicious eve. Irrespective of the communities, most of the Indians consider Dussehra as an auspicious day to start new projects, ventures or a new journey. And an important way of celebrating this eve is by purchasing gold whether in the form of gold jewelry or as an investment. As Indians love gold, therefore a number of people also buy gold as Dussehra special gifts for their family members.
Importance of buying gold on Dussehra:
Purchasing gold jewelry or gold coins in Dussehra is considered really auspicious as this is one practice that seeks fortune and wealth. Besides, the demand for gold perks up during Dussehra due to the wedding season that is followed by this festive season. But while purchasing gold, it is necessary to check the parameters like price and purity of the metal. Checking these parameters can help you to fetch a better return in the future.
Gold types that you can purchase on Dussehra:
1. Heavy gold jewelry: A solid bangle or a heavy neckpiece is not just an opulent buy, but it also works as an investment. Besides, the heavy jewelry pieces are also used as the family heirloom. So, you can purchase the heavy gold jewelry as a great accessory and also as a great method of investment.
2. Light gold jewelry: In case you have a low budget, then you can invest in lightweight jewelry pieces like earrings or pendants. Available in 22 carats yellow gold, these jewelry pieces are comparatively low on budget but are high on the value. These jewelry pieces are really popular as daily wear and these can offer the wearers sophisticated and elegant looks.
3. Gold coins: Investing in gold is considered to be one of the safest alternatives, which can yield higher returns. Besides, this is also one of the most alternative methods of purchasing gold. So, you can invest in the gold coins for securing your and your family members future from any kind of financial worries. Gold coins are mostly available in 22 and 24 carats with BIS hallmark certification that ensures purity. One can even build a stock with these gold coins and use these later for making jewelry or can send as Dussehra gifts to India.
4. Gold in paper or non-paper form: This is an unconventional method of purchasing gold that allows people to invest in gold in the non-physical way, either in the paper-form or in the non-paper form. Some of the main options of investing in gold in this way are:
• E-Gold
• Gold Savings Fund
• Gold ETFs or Gold Exchange Traded Funds
• Sovereign Gold Bonds
So, if you are thinking of investing in gold, then the most suitable option will be to invest in gold in the paper form. Gold in paper form can provide a good proxy for the gold value. One of the main benefits of purchasing gold this way is that there is no requirement of a physical holding of gold and therefore there is no holding cost. Apart from that, there is no need to worry about the gold quality that you purchase.
Conclusion:
Apart from being a tradition, purchasing gold on Dussehra can be a great investment. But it entirely depends on how much you purchase and for how long you are planning to hold the gold. In case you are purchasing gold for a short-term, then you can expect a 3%-4% return. On the other hand, in case you are buying gold as a long-term investment, then this will make sense.
0 Please Share a Your Opinion.: