Akshaya Tritiya is a spring festival celebrated annually by Jains and Hindus. According to religious beliefs, this day is considered an auspicious dat to make investments in gold and property. Akshaya Tritiya 2020 falls on April 26, this year.
If one is planning to buy gold this Akshaya Tritiya 2020 amid coronavirus lockdown, one can buy it online. One can reportedly buy gold online in various forms. These forms include gold exchange-traded funds (ETFs), Sovereign Gold Bonds (SGBs).
One should also know that the price of gold has shot up over the past few months. As per the latest reports, this Wednesday the cost of 24-carat gold was trading at around Rs. 47,300 per 10 grams. Read on to know more about it.
As per reports, Gold Exchange-traded funds are funds that can be bought and sold on the stock exchange. Since the benchmark of the gold ETF is the physical gold price, one can buy it close to the actual price of gold. However, to buy gold ETFs one must have a trading Demat account.
Sovereign gold bonds are government securities issued in multiples of one gram of gold. These bonds are reportedly issued by the Reserve Bank of India (RBI) on behalf of the Government of India which are traded on a stock exchange. These bonds can also be used as collateral for taking loans.
Physical gold is a tangible asset and they come in different forms like gold biscuits, coins, bars, etc. One can buy these with the help of certain banks this Akshaya Tritiya 2020.