Buying gold on Akshaya Tritiya is considered to be auspicious in our Indian culture.Today we are all used to seeing long queues before almost every jewelry shop around us.This is because of the belief that whatever is started or bought on this day will prosper.
This Akshaya Tritiya why not start a SIP, invest in gold mutual funds or any other mutual funds rather than buying gold jewelry or coins?
When you buy a gold jewelry from your jeweler, the gold used for jewelry isn’t the purest. Pure gold is less dense than the alloyed gold used to make jewelry. 22K gold or 91.67% gold is used for the making of jewelry while the rest 9% are usually copper, silver, or other metals.
For the 91.67% gold, you pay 10% and 20% as making and wastage charges along with 3% GST.
And when you try to exchange the same jewelry in the future, these making and waste charges won’t be considered.Again you will have to pay the jeweler these charges along with 3% GST.
Thus from the very day of purchase, you start losing out around 10% to 20% along with the GST.Also, investing in physical gold doesn’t provide you with any tax advantage while investing in mutual funds can be the best way to save tax.Holding physical gold is of a high risk nowadays.
So this Akshaya Tritiya why not you try investing in SIP, mutual funds or even gold mutual fund? Investing in gold mutual funds is exactly like investing in any mutual fund. You do need to have a demat account to invest in gold mutual funds.
It is very simple to start investing in mutual funds with Tradeplus.Infini MF, Our web and mobile direct mutual fund platform allows you to start a SIP or place a lump sum buy order with a click of a button.All you have to do is
2.Log into your account using your UCC code and password
3.Search for the fund name in the search box or choose one from the list of top-performing funds list.You can find Gold mutual funds by tying “Gold” in the search box.
4.You can also filter out using the minimum investment amount.
5.Click on the fund’s name will lead to the fund’s page
6.Click on the Buy button for normal and conditional orders or SIP button to place a SIP order
It is as easy as that.Wish you all prosperous investment in mutual funds this Akshaya Tritiya!
Visit us at https://mf.tradeplusonline.com/
Contact us +91 7530099051