Trend of buying jewelery on festivals has decreased, now people are buying digital gold and gold SIP

Now the style of buying gold on Akshaya Tritiya and other big festivals in India has completely changed. Now people are preferring to invest in options like digital gold, gold ETF and SIP instead of heavy jewellery. This change in the tradition that has been going on for centuries is coming because today’s investor is keeping security and profit at the top.

According to statistics, till last year, the share of jewelery in the total purchases made during festivals was 70% and the share of investment products (coins, bars) was 30%, but now this ratio is rapidly changing towards 60:40. This simply means that Indians are now buying gold not only for adornment, but also for the purpose of saving money in times of trouble and increasing their wealth.

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Increasing demand and benefits of digital gold

Nowadays people consider it safe and easy to buy gold from their mobile instead of going to the shop. There are many big reasons for this.

Cheap Investment: Through apps like Paytm, PhonePe and JioFinance, you can start buying 24 carat pure gold from just Re 1.

No worries about security: When you buy digital gold, you do not need to keep it at home or get a bank locker. It is fully insured and kept in a secure vault.

Sell ​​Anytime: Whenever you want, you can sell it immediately as per the market rate or if needed, you can get it delivered to your home in the form of coins or bars.

Investing through apps

Reliance’s Jio Finance app is now becoming very popular in this region. Along with this, PhonePe and Paytm have also made the process of investing in gold so easy that even a common man can invest without any complications. The live market rate of gold is visible on these apps, which enables investors to buy at the right time and take advantage of the rising prices of gold for their savings.

Why are investors moving away from jewellery?

Nowadays people are finding it more beneficial to invest money in gold coins or digital gold instead of buying jewellery. These are some simple and big reasons behind this.

Saving Making Charge: While buying jewellery, customers have to pay 10% to 25% making charge, which is not refundable while selling. This loss does not occur in digital gold or gold bars.

Purity assurance: There is a fear about purity while buying gold in the market, but only 99.9% pure (24 carat) gold is available on digital platforms.

Resale Value: Coins and bars purchased from an investment perspective always have a higher resale value than jewelry because they do not have any trimmings like old jewelry.

New trend of gold ETF and SIP

On the auspicious occasion of festivals, now people are accumulating not only physical gold but also gold in paper or digital form.

Gold ETF: This is the way to invest in gold through the stock market. There is no fear of theft in this and it is very easy to sell.

Festive SIP: The full name of SIP is ‘Systematic Investment Plan’. If we understand it in simple language, it is a way of ‘small savings every month’. Just like we put a little money in the piggy bank every day, similarly you can invest in mutual funds or gold (like Rs 500 or 1000) on a fixed date every month.

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Focus on saving more than showing off

Now people are not considering gold as just something to be kept in the cupboard. Today’s customer has become savvy and wants to take full advantage of his hard-earned money by saving unnecessary expenses like ‘making charges’. This is the reason why this time during festivals, there is more buzz about digital gold and investment options than jewellery. Instead of buying jewelery for show, people are now giving more emphasis on increasing their savings in the right way, so that they can get the full benefit of their savings when needed.