buyiing gold

POSTED BY rajan.panchal24 ON January 27, 2013 10:03 am COMMENTS (8)

I recently came accross an ad saying that I can buy gold for as low as rs. 50 /- per day.  It is reliance my gold plan. how is it? Is it ok to buy using that medium?



8 replies on this article “buyiing gold”

  1. bemoneyaware says:

    What suits you depends on your requirements. There is no one solution which fits all.

    What are the ways to invest in Gold:
    Gold Jewellery
    Gold Bars, Coins
    Gold ETFs
    Gold Savings Fund or Gold Fund of Funds

    You can check out the comparison of the options at Ways to invest in Gold

    You can also checkout the various gold saving schemes of various jewellers at Gold saving schemes

    We have covered Reliance My Gold Plan in our article Reliance my gold plan
    Min amount is Rs 1000 you have option to invest more!

    As you need Gold for marriage, you need to decide to decide the target amount and time you need to achieve it. I would suggest you to consider Gold saving schemes of Jewellers !

  2. says:

    ETF seems to be a good option. thanks!

  3. Dear Rajan, now do tell me, is is it worth for opting this scheme?

    If you want to purchase gold for your own marriage, my take ‘ll be to invest in Gold ETFs & as & when you are in need of actual gold, please sell these Gold ETF units & purchase physical gold from the sell proceeds.



  4. Dear Rajan, by investing 50 Rs. a day, how much gold can you accumulate in next 1-2Y?



    1. says:

      In two years hardly 10 gm !!!!

  5. says:

    yes Ashal, I want to have gold for my marriage.

  6. Dear Rajan, what’s is interesting in this ad for you? Is it Gold? The idea of investing Gold on daily basis? or the price tag of just 50 Rs.?

    Personally I w’d prefer to invest in Gold only if you are linking it with any Goal like marriage of your own or your kids. For pure speculation, I’ll not invest my own money in Gold.



  7. Investing in a gold etf if you already have a demat account or a gold fund of fund like quantum gold savings should give your more freedom if not more returns.

    The administrative charges of 1.5% per transaction, safe keeping charges, exit load of 2.5% makes this very undesirable. You cannot redeem in cash, have to take gold only!

    Only thing is its probably better than a jewelers scheme!

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