This Diwali Make A Golden Move

Although traditionally Indians have always preferred to buy gold in the physical form, especially during a festival like Diwali, there is now a better option of investing in gold with the purchase of gold funds, gold exchange traded funds (ETFs) or sovereign gold bonds. In short, go digital!

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Conventionally, India is a country with festivals and traditionally, people generally tend to invest in gold not only for its value but also because it is termed true wealth. There is, in fact, an emotional connect with the gold that one possesses. Gold has been considered as the safest investment instrument and it protects an individual or family against any untoward events. People buy gold for a variety of reasons such as investment, hedging against inflation, asset allocation and also for its auspicious sentiment. As per the Indian Hindu calendar there are auspicious days to buy gold such as Dhanteras during Diwali, Dusshera and Akshaya Tritiya.

The ritual of purchasing gold during Diwali is considered an invitation to goddess Laxmi, the goddess of wealth and prosperity. Indian people buy gold on ‘muhurat’ as there is a predefined notion that it might fill their life with wealth and happiness. Now, there are various options available for an individual to invest in gold. One can invest in gold either physically or digitally. Traditionally, people used to buy physical gold in the form of coins, bullions or jewellery, that too for consumption purpose.