New Delhi: Akshaya Tritiya is considered an auspicious day for buying gold, silver and other metals. Gold prices are widely tracked in bullion market largely due to token purchases on the auspicious occasion of Akshaya Tritiya.
Akshaya Tritiya, variously known as Akti or Akha Teej or Akshaya Trutiya, is considered to be one of the most auspicious days for Hindus. It falls on the Lunar day of Shukla Paksha in the month of Vaisakha. As the name suggests, Akshaya Tritiya means the ‘third day of unending prosperity’.
Here are the five best ways to invest in gold on Akshaya Tritiya
Physical gold
You can buy Jewellery from shops which sell hallmarked ornaments, gold coins or gold bars. Coins can be brought either from Jewellers or from banks.
Gold ETF
ETFs have come to be a very good way of investment for those who don’t want to keep physical gold for safety concerns. All you need to have is a demat account. Many gold ETFs are available in the maket where you can buy paper gold. It is the easiest and hassle-free method to maintain gold.
Gold trading through commodity exchange
You can buy gold through future trading from MCX, NCDEX, ICEX. Here too you will have to open a demat account. By paying a minimum brokerage fee, you can trade in gold futures.
Buying through e-Gold
e-Gold is also an electronic form of holding gold. It is slightly different from buying ETFs. Here you are directly the owner of the gold while in ETFs the holding company is the owner of the gold. The process is more or less similar to buying ETFs.
Equity based Gold funds
You can invest in mutual fund schemes which has its exposure in companies engaged in gold mining, processing, extraction and marketing. All you need to have is a demat account.