Gold rates depend on many factors. Although the rates can be calculated and predicted for the future, any unprecedented factors might affect those. The most apt and recent example for this is the ongoing pandemic. Gold prices went right through the roof after the first Covid-19 case outside of China came under the spotlight. 2008’s economic crisis was also responsible for a sharp rise in the price of gold. Natural calamities, pandemics, terror attacks, war, and many other factors play a vital role in raising gold rates across the globe. Many jewellers in India have various schemes that could help you plan your purchase ahead of any crisis.
What is a Gold Investment Scheme?
A gold investment scheme works like a bank recurring deposits, also widely known as RDs. There are two parties involved in the process - the investor and the jeweller. The investor deposits a fixed amount every month towards the scheme for a specified period which is usually a year. At the end of the tenure, the jeweler provides the investor with one or even two installments. Here’s an example: A person deposits Rs. 5000 every month for a period of 12 months and the jeweller pays for an additional investment. (Rs. 5000 x 12 = Rs. 60,000 + Rs. 5000 = Rs. 65,000). The jeweller's investment is exactly like an interest on a RD. In some schemes, gold worth the amount of one investment is given to the investor. The return on investment is in the form of gold itself. This scheme is beneficial in the long run. Especially when the rates keep spiking to new highs.
Gold investment is excellent if you are planning to save money for gold. Many jewellers even offer various benefits like no making charges which is a cherry on the cake if you’re planning to purchase gold for an occasion like a wedding or an anniversary. These schemes can be accessed online. Most jewellers have their own websites and e-stores that not only help you with online jewelry shopping but also have a list of schemes the jeweler provides.
If you are planning to get married, or want to gift someone a beautiful piece of jewelry, then investing your money in a gold investment scheme is an ideal plan. This not only helps you save up the money but also helps you stay committed to your goal. The additional benefits help you save more in the long run and even against the rising prices of gold. Other than only events or occasions, gold is still a good investment with the returns being quite good. These schemes help people organise their finances. Many people opt to take loans for gold, which costs them more in the long run. Small investments for a good tenure will help you plan a better future.
In times like these, a person cannot guarantee financial security. There are many factors that could lead to a loss than there are that could guarantee a profit. A well-planned investment helps you stay afloat even in a financial crisis. So what are you waiting for? Search for gold investment schemes and select the one that suits you the best.