Gold Rate In Odisha

Gold is one of the many precious metals found in the depths of our planet. It has had a very significant place even in the ancient human civilization. Gold has been used in jewellery to make various ornament for religious purposes or for personal use. This yellow metal has had a huge importance in every part of India. Most reports suggest that approximately 11% of the total gold reserves of the world are available in India. Out of these, the majority portion is not in circulation in the market as it is kept safely in the bank lockers.

Why is investing in gold a good option?

There are many investment options that people can choose to invest in. These options can be traditional investment options like bank FDs, PPF, NPS and other government-backed schemes or even dynamic investment options like mutual funds, ETFs, index funds, etc. While the traditional investment options are more stable or risk-free investment options, the latter provides higher returns at comparatively more risk.

Among all the investment options available to investors, gold is an evergreen investment option. There is hardly any chance when the investment in gold can turn negative. Investors of gold can simply invest in this yellow metal and enjoy the benefits of secured investments.

What are the various options to invest in gold?

Earlier, there was only one mode of investment in gold I.e., through ornaments, gold coins, or gold bars. These are the traditional modes of investing in gold that is still favoured by the majority of people in India, especially those who are risk-averse and do not like to invest in dynamic investment products.

Apart from these traditional modes of investing, the other investment options are mentioned below.

Gold ETFs

Gold ETFs are popular investment options for dynamic investors who do not wish to invest in physical gold and deal with the risks associated with it. Gold ETFs let the investor invest in a proportional value of gold without investing in the physical form of gold. Gold ETFs are traded on the stock exchanges and need only a Demat account for investment. The investment in gold ETFs is directly affected by gold prices.

Gold Mutual Funds

Gold mutual funds are another important investment option for investors who are looking to earn high returns from their investment by taking calculated risks. This investment does not require the investors to open a Demat account. The changes in gold prices do not directly impact the gold funds. Another added advantage of gold funds is investment through SIP which makes it an easy investment option even if the investor does not have huge funds that are typically needed for investment in gold jewellery or gold coins and bullions.

Sovereign Gold Bonds

Sovereign gold bonds are the gold bonds issued by the Reserve Bank of India on behalf of the Central Government. Investors can earn nominal interest on their investments. Being backed by the government, these bonds are among the safest forms of indirect investment in gold. The maximum investment that can be made under this type of investment is up to 4 kgs. Investors can invest in these bonds for a maximum period of 8 years with an exit option from the 5^th year onwards.

Digital gold

Digital gold is a relatively new segment of investment in gold. Investors can buy small fractions of gold under this type of investment. Investors have the option to buy digital gold in amounts as low as Rs. 10. This investment can be liquidated quickly too within 2 days. Digital gold can be converted to physical gold in the form of gold coins, gold bars or gold jewellery. Investing in digital gold is quite simple and the investor will simply need the laptop and internet access and payment for the gold through an online payment mode. The purity of such gold is 24karat (99.9% purity) and the gold is held in a digital locker.

FAQs of Gold Price Today In Odisha