How to Invest in Gold in 2023?-India

The traditional method of securing a financial future holds Gold investment in the prioritized list among Indian households. This trend has continued for decades since the value of Gold began conquering trade sectors. People of various professions believe in the inherent quality of Gold in the investment arena. We have come across myriads of queries on the probable schemes available for Gold purchase to exploit the yellow metal as a source of palpable investment. 

The market for Gold has expanded globally, with significant stock values assigned in the trade market. The ornamental craving is only a second thought for most gold investors in the contemporary business world. The gold entity is not just a physical commodity but also a sustainable investment mode for diversifying an individual’s economic portfolio. 

We suggest investing in Gold, anticipating low transaction costs and taxations, better investment amount, flexibility, and solid returns. Bhima’s certified gold products are also a great source to consider for liquidity under a good gold investment plan. Gold investment is primarily inspired by the lucrative benefits in store for investors at crucial times. 

Bhima’s comprehensive analysis of the gold investment industry has collated the needs of the millennials thriving in the digital economy. Real money is being replaced by digital currencies across various platforms, and so does the value of Gold. You can also buy Gold online via trusted portals. Whatever your choice may be, some basic factors must be checked before investing in Gold. 

Reliability  

The choice of Gold should be tested thoroughly based on metrics such as the quality and purity of the yellow metal. We strongly advise you to go through the profile of the jewelry partner. It is of paramount importance that the jewelry owns the hallmark trade certificate. Only this certificate can ensure the reliability of the Gold. It also ensures the purity of the Gold as verified by government standards. 

Value of Expenditure

 Gold is undoubtedly an expensive investment for middle-class or working-class people‘s lives. Therefore, the cost incurred while buying the product should be evaluated regarding the resale value. The manufacturing cost calculated for the Gold will not be considered when you sell the Gold.  

Gold Maintenance 

We place major importance on the maintenance of Gold, which is equal to investing in the metal itself. You should look out for a safe and secure locker to maintain your valuable investment. There are notable private banks to keep your product safe for reasonable charges depending on the size and quantity of the Gold. 

Management of Tax 

 You should consider the involvement of tax in the purchase of Gold. This forms an integral part of gold investment. We recommend planning the tax percentage before investing in the metal. For instance, Say a 3% GST (Goods and Services Tax) cannot be recouped when you sell the product.  

Opting for a gold loan from authorized banks and non-banking financial companies is a good option. You shall get 70-90 percent of the value of Gold with an interest rate as low as 8 percent per annum.  

If you plan to sell the Gold, make that decision 3 years after the purchase. This will help you get a flat 20% capital gains tax and indexation. Indexation is the purchase price adjustment, with respect to the prevailing inflation rate, as per the Income Tax of India.