Personal Finance Blog India –

From Where You Can Buy Gold For Akshaya Tritiya:

Tomorrow is Akshay Tritiya and considered to be one of the most auspicious day to buy gold or start a new activity.Today,we will take a view what options we have to purchase the gold.

  1. Jeweller’ shop:This is the most common way of buying physical Gold.Tomorrow we can witness a long que in front of some of the famous jewellary shops…itself tells the story.
  2. Banks / Indian Post:Gold coins and bars can be purchased from banks also.While checking the rates for different banks I was just surprised because of much higher rates than that of current market.Just to name HDFC Bank todays rate for 10-Gram Gold Mudra is Rs 33,994 or rate from bank of India is Rs.30,685/- (exclusive of sales tax /VAT),,which looks very higher than current market rates.I do not find the rates from Indian post but chances are quite high that they will be in the similar range.
  3. e-gold Series From NSEL:One can buy gold in multiples of 1gram and hold in demat form.It can be remitted to physical gold as well or can be sold online anytime.But exchange approved account will require to buy units of e-gold online.On occasion of akshay tritiya ,exchange have waived the transaction taxes.
  4. Gold etf:This is as well a  very nice option to hold units of gold in terms of etfs.This will require a valid demat account.On occasion of akshay tritiya,it will possible to buy gold etfs till 8:00 pm ,as well exchange have waived security transaction taxes also.
  5. Gold Mutual Fund:If you do not have either demat or nsel account then this is the most simplest way to invest in gold.Just need to submit application form and cheque(of course,if your KYC is verified).

Before choosing the option above just I think one should have some clearity about why we are purchasing the gold.If its just for protection from future price rise then better to think of ETFs,e-gold or mutual funds isn’t it?..

Category: Commodities

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