Gold – the invaluable metal that has been around since the beginning of time. No, that’d be an exaggeration. But, it was discovered in 700 B.C., which makes it one of the oldest forms of currency. Gold has played a significant role in controlling the money supply in the economy.
Gold has always played a key role in the international monetary system. If we look at it from the purview of Economics, we understand that it was used to back other forms of currency.
The Fiat form of currency has come into the picture recently, but that doesn’t take away gold’s shine. Inflation, in most cases, has meant a rise in the prices of gold which ultimately benefit the holder. Unfortunately, there are plenty of misconceptions still persisting around this precious metal.
Let’s get to busting a few of them today:
Myth – You have to be wealthy to save in gold.
Fact – You can start saving gold with a small amount.
Gold is seen as a status symbol by many, but contrary to popular belief you can start investing your money at an amount you please. With the advancements in the investment and finance industry, the way you save has revolutionised too. Many online and offline channels let you start saving at an amount as little as Rs. 10/- only. SafeGold is one such platform that provides you with a way to save conveniently and at a nominal cost.
Myth – Investing in gold doesn’t bear any interest.
Fact – Gold does much more than yielding interest in the long-term.
While parking your money in gold will not directly help you reap interest, it does something much better. In comparison to speculative investments in stocks, acquiring gold is like holding a form of currency which amplifies its security. Gold helps in balancing your portfolio, acts as a hedge
against inflation, and has terrific long-term capital gains. The long-term capital gains (even as little as three years) after the sale of goods are levied at 20% with additional benefits.
Myth – Equities have the best long-term returns.
Fact – Not always. Many times, gold performs better.
If you look at the data for the past 5 and 10 years, you’ll notice the returns produced have been consistently higher than that of stocks. In fact, with saving in gold you protect yourself from the steep fluctuations that stocks are subjected to.
Myth – You have limited options while investing in gold.
Fact – The avenues for investing in gold have multiplied.
If you’re thinking that your only options for investing in gold are jewellery, coins, or bars, we’re about to prove you wrong! Gold ETFs, Gold Sovereign Bonds, and Digital Gold have stepped into the industry attracting new investors who desire to save in this precious metal. The different channels help you save as per your convenience. Digital gold is undoubtedly one of the preferred ways to save by new-age investors.
SafeGold provides you with a seamless way to invest in gold digitally with a mere amount of
Rs. 10/- only.
The bottom line is that these busted myths are an added sense of assurance for anyone who is genuinely curious to begin their gold journey. With digital gold, the process of saving gold has become easier and more secure than ever. Gold is Safe, and Safe is Gold.