Press "Enter" to skip to content

Options for gold buyers in this Covid-hit Akshaya Tritiya – Mint

Amid fear of Civid-19 for second consecutive year, Akshaya Tritiya 2021 celebrations are underway. As buying gold on this day is considered auspicious, one would definitely look to buy the yellow metal today. However, amid Covid restrictions and ensure social distancing, it won’t be easy to buy physical gold. In such a challenging scenario, buyers have some other options that they can think of looking at. Those gold options are gold fund, gold ETF and e-gold.

Speaking on the gold options that one can look at in this Covid-hit Akshaya Tritiya; Kartik Jhaveri, Director — Wealth Management at Transcend Consultants said, “During Covid-19, India has gone digital at a faster rate and this is the second consecutive year when the nation is celebrating Akshaya Tritiya amid fear of Covid-19 pandemic. Last year, a good number of people had gone for the digital gold options and once again I would advise gold buyers to go for those options like gold funds, gold ETF (Exchange Traded Fund) and e-gold.” Jhaveri said that these alternatives of physical gold would help gold buyers to celebrate Akshaya Tritiya 2021 without jeopardizing their Covid-19 safety orms.

Commenting on these physical gold alternatives SEBI registered tax and investment expert Jitendra Solanki said, “Those who have Demat Account can buy gold ETF but those who don’t have Demat Account, they have option to buy digital gold via mutual funds. Such buyers can buy gold funds or e-gold as these options provide Systematic Investment Plan or SIP too. In gold funds, one can buy gold worth 500 as well while in e-gold, you have an option to buy gold from Re 1 onwards. So, one can buy as much of gold as its budget allows and celebrate Akshaya Tritiya 2021 without breaking the Covid-19 protocol.”

So, people have these three options to buy gold on this Akshaya Tritiya without breaking the Covid-19 protocol:

1] Gold ETF: Need Demat, No SIP allowed.

2] Gold funds: No Demat Account required, buy through mutual funds, SIP allowed.

3] e-gold: No Demat Account required, SIP allowed, buy gold from Re 1 onwards.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
our App Now!!