Why not to invest in Jewelry Schemes in Jewelry Shops

We as Indians have a tradition of investing in gold. India is one of the largest consumer of gold. At present estimates say that India has $950 Billion of gold reserves. The value of currency also depends on the gold reserves of a country. We all have a tradition of accumulating gold in the jewelry by paying there gold savings scheme. The procedure is that they get cash for each month and at the end of the scheme they pay us a premium of 2 installments or provisions as per there scheme. But the disadvantage here is that you buy gold at the rate which is prevailing at the end of your scheme. So there is a solution to put an end to all this. In today’s world there are much more better solutions for gold savings rather than an traditional way. In today’s financial markets you can buy gold in the form of ETF (Exchange Traded Fund) for investors who can buy a minimum of one gram for small investors they can invest in Mutual funds that invest in GOLD ETF.

There are many advantages in investing in such products. By investing in such products you can buy gold at the current market price on the day of investing. There is no possibility for theft of gold. So the locker charges for safeguarding the gold is prevented. You can also mortgage such instruments ( GOLD ETF) for your financial requirements as (Loan Against Shares).

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20th May 2018
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