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Gold is an asset that has been around for centuries. Investing in gold is a lucrative way of diversifying portfolios and protecting against inflation. But times have changed. Now there are many ways you can invest in gold. Find out which is a smart asset to purchase this festive season.
India's relationship with gold goes back centuries. Investing in gold is seen as a sign of prosperity and financial status in society.
Gold jewellery has always been considered the safest investment mode in India as it remains unaffected by inflation or market fluctuations.
However, the price of the metal has been on a downtrend for quite some time now.
This can be attributed to global economic downturns, slow demand for electronics, jewellery, and other industrial metals, and India's shift to a digital economy.
Yet, the long queues outside jewellery stores during great Indian festivals like Diwali or Akshay Tritiya and the wedding season depict a different story.
But when it comes to physical gold as an investment option, we think it is time we look for safer options to invest in gold, and there are quite a few. Let's find out.
We have crossed the half-year mark of 2022. And in the last six months, gold prices in India have been outperforming other stock options.
But let's not confuse overall gold prices with gold jewellery value. Financial experts say it's not a good idea to buy gold jewellery as an investment.
If you are still interested, there are other ways to invest in gold besides purchasing jewellery – digital gold. It is the future of gold investment. Already 1 Crore of Indians has started investing in Digital Gold using Jar App and you can also join them with just ₹10 in less than 45 seconds.
Jar app is a micro-savings platform that acts as a Digital Piggy Bank for its users.
You can Invest in gold with the Jar app and start saving and growing your Money.
You can invest as little as ₹10 in 99.99% pure 24 carats of digital gold.
Jar app helps you to automatically invests your money in this well-known asset - Digital Gold, it is Powered by SafeGold & backed by the VISTRA - Trustee of the Gold.
Once you download the Jar App, it detect the payments you made for online purchases. It then rounds off the amount nearest to 10 and generates a spare change for your expenses.
Then the app automatically deducts the change amount from your bank account using UPI(once you approve the UPI mandate) and then invest it in 99.9% pure digital gold through SafeGold.
Let's understand this with a small example.
Suppose you just ordered a pizza worth ₹562 from your mobile. As soon as you receive a message from your bank about the deduction, the Jar app rounds it off to the nearest 10. In this case, it is ₹562-₹570=₹8. This ₹8 gets auto-debited from your account using UPI and gets invested in digital gold.
Thus, you can easily save money and invest in gold without effort. The jar app's auto-investing feature makes it easy for those who are not very good at diligently saving and investing.
By automatically deducting money from your bank account and investing in digital gold for better and sustainable returns, it helps develop a habit of saving money effortlessly. Additionally, it makes for a great gifting option.
Gold has been a highly coveted asset for centuries because of its rarity, beauty, and inherent value. It has always held a unique place in the world.
When it comes to investments, gold is a safe and secure way of making your money work for you. Hence, start your Daily Saving Journey now.
It is important to change with time. So, adopt new ways of investing digitally over a long period and reap its benefits.