Gold has been an integral part of Indian society for centuries, it has been a prime means of trade, means of exchange, an avenue for investment, and prime to every Indian community at large. History is witness to the strength of gold, such as the power that wars were waged, countries were invaded, and kings were dethroned for the love of yellow metal.
While gold holds a remarkable history in our country, it comes as no surprise that it is here to stay in all glory for many centuries to come. We all buy gold for a variety of reasons:
- For diversifying our investment
- For Security for future
- For weddings and other family celebration
- For gifting
- For benefiting from the price rise
- For easy liquidity
And many more reasons. Having said that did you ever wonder when is the right time to invest in gold? Or we go by the word of mouth or simply buy those latest gold Jhumkas that tempted us just at any time.
Well, here are some inputs to understand when is it right to invest in gold:
Look for price fall
The first to look for while buying gold is to watch the price fluctuations at least a week or two in advance. Take note of ups and downs, see the maximum lower point, take the opinion of investment websites, forums to understand the movement, and buy when it dips to the lowest. This way you can make most of the price fall.
Anticipate a future need
Anticipating a future need or wedding on cards in the family then it is best to buy gold and keep it. This is the best way to take advantage and hedge yourself from future price rises. This is best when a pure gold coin is bought instead of finished Jewellery. A gold coin has two-way benefit- first the price and second, the 24Kt purity of the gold coin can be exchanged with a 22KT finished Jewellery like the latest drop earring design.
For your milestones
Some lifes best milestones need to be marked with a toast and what better way than a token of gold to fill the moment up. First job, first pay hike, first baby and marriage anniversaries etc are a few of the many milestone occasions that can be marked by the purchase of gold.
Wait for Festivals
Indian festivals not only bring with them joy, celebrations and loads of happiness but cheer us with festive offers, discounts, month-long rebates and huge savings too. So, that is the right time to make the most from our shopping. Gold shopping is no different, Jewellers across the country bring out price cuts per gram of gold, slash in making charges, slash on bill value, silver coins free, and many more innovative deals. This is the best time to buy gold. Another few occasions are Akshaya Tritiya and Dhanteras where many believe that buying gold is auspicious.
With so many right occasions to buy gold, one need not essentially look for a reason. Experts only suggest you invest in gold holistically to enjoy the fruits in the form of the return it gives and the security it provides over the long run.