With gold prices skyrocketing, investing in gold could be a smart move for your future. Here are some ways you can buy gold even if you’re working with a tight budget and boost your investment portfolio.
Wondering how to afford such pricey gold? Here are some strategies to enrich your portfolio without breaking the bank.
As gold prices continue to climb, many folks are feeling anxious about how to invest in it. But if you’re looking to buy gold for investment purposes, there’s no need to stress. There are plenty of options available that allow you to accumulate gold even with modest savings.
First, let’s talk about why investing in gold is a good idea.
Investing in gold comes with numerous advantages. Its value tends to rise over time, which means it can yield great returns down the line. In tough situations, when cash is hard to come by, you can secure a loan by using gold as collateral. Gold loans are considered secured loans, and in emergencies, you can sell your gold for quick cash. Plus, gold is easy to transport.
Gold ETFs
You can purchase Gold ETFs just like stocks and store them in a demat account. This mutual fund option is a cost-effective way to invest in gold. You can trade this gold on the stock market, and each unit of an ETF represents 1 gram of gold. If you’re on a budget, you can start by buying just one or two units.
Digital Gold
Another option is digital gold, which is perfect for investment. It boasts 24-carat purity, zero risk, and full liquidity. Unlike physical gold, digital gold is stored in your digital wallet, and its value appreciates over time. You can even sell it online if needed, and you can start investing with as little as Rs 1.
Gold Mutual Funds
Gold Mutual Funds are another avenue for investment. You can kick off your investment journey with a minimum of Rs 500 through a monthly SIP, and you won’t need a demat account to get started.
Sweta Mitra
Working in the media for last 7 years. The journey started in the year 2018. For the past few years, my working experience has been in Bengali media. Currently working at Timesbull.com. Here I write like Business, National, and Utility News. My favorite hobbies are listening to music, traveling, food,...
