For Indians, investing in gold is like investing in happiness and in some magic potion which would play the role of a savior at dire times.
Indians have always been fond of investing in gold and silver items almost as a ritualistic investment practice. However, as the technology paced up, it gradually changed the shape and form of the commodity market as well. Golds which were earlier invested in bulk in the form of gold coins, jewelry or customized shapes, are now available in an intangible form. Digital gold as a concept is pretty new in India, but is gaining quite a popularity faster than ever. Going by its concept, digital gold serves as an intangible commodity which an investor can invest in but in a digital form, rest assured, the invested amount will solely be put on pure gold and that means no other cost of elements or making charges will be levied. This article presents some of bestes ways to invest in gold that promises a better ROI in the long run.
Investing done through digital gold wallets
Gold wallets are one of the new game changer in the investment market and one can surprisingly begin with an amount as low as INR 1. Online transaction apps like Gpay, PayTM, PhonePe, and similar others have already introduced digital gold wallet features for its users which are stored securely in MMTC-PAMP lockers. The coolest feature of this investment mode is that it allows users to invest in gold at minimal costs and an open option for the users to sell it at any time round the clock, plus users are permitted to order the invested gold in physical form as well.
Sovereign Gold Bonds (SGBs) from Reserve Bank of India (RBI)
Sovereign Gold Bonds were first introduced in 2015 under the Gold Monetization Schemes, issued by the RBI for the potential investors. The bonds are issued by the RBI throughout the year for the investors with an attractive interest rate of at least 2.5%/annum. Going by the bond value definitions, each SGB bond stands for 1gm of gold and is by far considered to be a stable as its a government backed investment opportunity.
Earning more with gold ETFs
Unlike digital gold wallets and SGB, investing in gold ETFs is much like investing in mutual funds and unlike jewelleries, gold ETFs are best regarded for its purity which is around 99.5%. Some of the best performing gold ETFs like SBI Gold Fund, Invesco India Gold Fund, Aditya Birla Sun Life Gold Fund and other similar NSE and BSE listed gold ETFs are undoubtedly changing the concept of protection against inflation. All it requires is a demat account to begin with along with a trading account.
So if you are already planning to invest in gold try investing in some of these best alternative digital ways which would not only ensure better ROIs but would also compliment your investment goals as well.
