If you want to buy cheap gold before Dhanteras, then the government is giving an opportunity to invest in sovereign gold bonds for five days from October 25. In this, 2.50% fixed interest is paid every year on investment and no making charges have to be paid. The interest money reaches the investor's account every month.
Experts say that there has been a big fall in gold in a year. The government has also fixed the price for the seventh series of sovereign gold bonds at Rs 4,765 per one gram, which is Rs 412 cheaper than last year's Dhanteras. Thus, if you buy 10 grams of Sovereign Gold Bond, you can make a profit of Rs 4,120. 50 per gram discount will also be available on online purchases and digital payments.
Any individual can buy Sovereign Gold of a minimum value of 1 gram and a maximum of 4 kg in a financial year. There is no tax on the gains made after its maturity period of 8 years. If you withdraw your money after 5 years, then the profit from it is taxed at 20.80% as Long Term Capital Gain.
You can also invest in these ways
Physical gold:
One can also invest in gold in the form of jewellery, bars, biscuits or coins. It would attract 3% on the investment value. Design and making charges will also have to be paid, which will be around 10% of the price of gold.
Gold ETFs:
There is no investment limit in this. If you sell it in less than 36 months, you have to pay short term capital gains and tax on gains as per slab. Long term capital gains and gains are taxed at 20% if held for 36 months or more.
Digital gold:
Can be bought from big brands like PhonePe, Paytm or Stock Holding Corporation, Tanishq and commercial banks. It can be purchased for a maximum period of five years. After this, the coins will have to be converted or sold in bars.
Buying gold on Dhanteras is considered auspicious. In the current global environment, there is a good investment opportunity in yellow metal. There is concern about inflation in the global economy. The dollar index is also not gaining momentum and crude oil prices are increasing continuously. All these factors are supporting gold.