Gold’s shine has increased, you can still earn a lot, know how to invest in gold?

Gold is making records this year. The prices of the yellow metal have once again set a new record. Gold has already beaten stocks in terms of returns this year, but now analysts believe that a lot of money can be earned from it. Let us know how much money gold can give and how one should invest in it…

Gold may cross 78 thousand

Gold is currently above Rs 75,000 per 10 grams in futures trading on MCX. On the Multi Commodity Exchange, gold was trading at Rs 75,115 with a gain of 0.15 per cent at 3 pm. Before that, gold has set a new all-time high record and has crossed the level of 76 thousand in intraday. Analysts are expecting that gold can go up to Rs 78 thousand in the festive season this year. Meaning, there is a possibility of a good rise in gold prices in the next one and a half months.

Gold made this new record

According to a report by CNBC TV18, the price of spot gold in the US market reached a new high of $2,638.37 per ounce on Tuesday. At the same time, the price of US gold futures went up to $2,661.60 per ounce. Gold also reached an all-time high in the Indian market on Tuesday. According to the report, the price of 24 carat gold had climbed to Rs 76,330 per 10 grams yesterday.

Disadvantages of buying physical gold

There are two ways of investing in gold – one is digital and the other is physical. Many people prefer physical gold due to its emotional value, but buying digital gold is considered appropriate for investment. There is a risk of theft with physical gold. To avoid this, if you resort to a bank locker, you have to pay for it. The second biggest loss is the deduction made in the name of making charges and adulteration etc. while selling. Digital gold removes both these problems.

Sovereign gold bond may be discontinued

This is the reason why Sovereign Gold Bond has emerged as a popular means of gold investment in recent years. However, now there is talk of closing this option. In August, various media reports quoted government sources as saying that the government may close SGB. The government considers this scheme to be expensive and complicated. For this reason, the closure of Sovereign Gold Bond is being considered.

Benefits of investing in Gold ETFs

If this is true, then ETFs become a great option for investors to invest in gold. Investing in gold ETFs proves to be beneficial in many ways. Gold ETF units can be kept in a demat account in electronic form like shares. They are traded on BSE and NSE. This means that they can be bought and sold anytime during business hours. The storage cost of gold ETFs is low. There is no hassle of making charges or adulteration in it. You can invest in gold ETFs even with a small amount.

Also read: Gold shines before festivals, price crosses 76 thousand, records a new high level