Bought Digital Gold on the occasion of Akshaya Tritiya

in LeoFinance2 years ago

Akshaya Tritiya is an annual Hindu festival which is an auspicious day for Hindus around the world. Since it is an auspicious day people usually do investments like buying Gold, Silver, Properties or any new beginnings like marriage and other things. My mom said that she will be buying some Gold, and she has bought it, but I am not very favourable to buying the physical gold and because of that I have bought Digital Gold.

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Pc: Pexels.com

This is the second occasion from last year where instead of buying physical gold, I bought a Digital gold. At first, it was on Diwali and next is today. This is actually helping me to diversify the investment which my portfolio needs and add the Gold to it. Also, though buying a Digital Gold in place of physical gold is good but still, I think Sovereign Gold Bonds are a better option than Digital Gold.

Sovereign Gold Bonds (SGBs) are government securities and thus they can be purchased per gram value. They are the substitute for physical gold but the problem with this is that they are used only for investment. Unlike Digital Gold, where you can sell the Gold for physical gold the Sovereign Gold Bonds will be mature in 8 years as well as you will get 2.5% interest every year. The good thing about SGBs is that the profit gain, as well as interest, is tax-free.

Yesterday I thought of buying the SGBs instead of Digital Gold but the problem was none of the SGBs was active because SGBs are released by the government at fixed intervals and thus have to buy the Gold as Digitally itself. Also, the SGBs will be credited to the Demat account and thus all your stocks and SGBs can reside together.

So from next time I will try to buy the SGBs whenever possible and along with that buy the Digital Gold on occasions like these.

Posted Using LeoFinance Beta

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Nice investment strategy!

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