Akshay Tritiya is considered to be an auspicious day to buy gold. Every year during this day the yellow metal sees a surge in demand, especially in the form of jewellery. However, buying gold jewellery may sound attractive, but is not the best form of investment option when it comes to returns. There are other options like Gold ETFs and Gold Bonds which are safe and can give you better returns.
Invest As Per Your Financial Goal
Do not indulge in gold shopping just because there is festive sentiment attached to it. As you do for your other investments, you must ascertain your financial objective and accordingly determine how much gold you would need for your investment portfolio as well as for your future needs such as marriage of children etc. If you want to buy gold only because of the auspicious factor, then buy a small quantity of it if and consider investing in other avenues.
Invest In Jewellery When You Really Need It
Buying gold jewellery on Akshay Tritiya is quite popular in the country as it provides the twin benefit of value appreciation as well keeping a jewellery for the long term. But it is not a practice that you should religiously follow every year as the price of the gold varies from jeweller to jeweller and depends on the price decided by a city’s jeweller association. There are no set rules for pricing when you buy any gold ornament from the jewellers. You should also check the purity before buying gold jewellery. You should also be aware of the resale value of the gold as jewellers ask for making charges while buying jewelleries. If you plan to sell such jewellery in future, then the buyer will deduct making charges and calculate the value as per purity of ornament, so your overall return will get negatively impacted and low.
Buy Gold From The Right Place
It is important that you buy physical gold from the right place to avoid any kind of fraud and to ensure the purity of the yellow metal. If you are buying gold biscuit, then consider branded and authentic jewellers whose premium of prevailing gold price is not very high, and the repurchase rate of gold is not much lower than the market rate. Avoid buying gold from the banks because they charge hefty premiums and they do not repurchase when you want to sell the investment.
Other Options To Invest In Gold
If you are planning to invest in gold this Akshaya Tritiya, then you can explore options like Exchange-Traded Fund (ETF) or Sovereign Gold Bond (SGB) scheme as the prices here are regulated.