New Delhi: Gold has always been the safe haven for investors but the pandemic situation across the world has left everyone worried. Akshaya Tritiya is associated with buying gold but with strict lockdown imposed everywhere, this year it’s not possible to physically buy gold from a jeweller. Also Read - Gold Rate Today, 09 May 2021: Gold Price Trades Below ₹ 45,000. Check Latest Price of 22k & 24k Gold in Your City
Here’s what you can do instead Also Read - Gold Price Today, 5 May 2021: Check Latest Price of 22k Gold in Delhi, Bangalore, Pune And Other Cities
1. One can buy gold exchange-traded funds from stock exchanges almost at the actual rate. For this, one needs a trading Demat account. There is a minimum limit. Returns are also low. Also Read - Gang Using Specially Designed Undergarments to Smuggle Gold busted
2. Sovereign Gold Bonds involve fewer risks. These are government securities, issued by the RBI in the multiples of one gram of gold.
Should you buy?
Gold is still trading above Rs 46,500 levels. On Friday (24 April), gold futures were up 0.17 per cent or Rs 78 to Rs 46,505 per 10 grams. In the previous two sessions, gold prices had rallied about Rs 1,300 per 10 gram. On the Multi Commodity Exchange, gold contracts for June traded higher by Rs 315, or 0.68 per cent, at Rs 46,742 per 10 grams in a turnover of 16,400 lots.
So yes, it’s still a safe investment.
Buying through mobile wallets
Paytm, PhonePe, Google Pay are selling gold in collaboration with MMTC-PAMP. On PhonePe, buying of gold starts from Re 1 or 0.001 grams. However, to sell it, one must have a minimum gold worth of Rs 5. You cannot buy and sell on the same day.
On Paytm, minimum value to buy gold starts from Re 1 to a maximum of Rs 1.5 lakh. In grams, you can buy a minimum of 0.0005 grams and a maximum of 50 grams. Paytm tied up with jewellery stores such as Kalyan Jewellers, PC Jewellers etc.