Gold Investment: Gold prices have seen a tremendous rise in the last few days. However, there was a slight decline in gold prices on Wednesday. On Wednesday, the price of gold with 99.9 percent purity fell by Rs 340 to Rs 87,960 per 10 grams in the bullion market in the capital Delhi. With this, the price of gold with 99.5 percent purity also declined by Rs 340 to Rs 87,560 per 10 grams. Let us tell you that the price of gold with 99.9 percent purity on Tuesday was at Rs 88,300 per 10 grams.
Making charge and GST will increase with the price of gold
Rising prices of gold have increased the tension of common investors and buyers. Even bigger tension is that people who buy gold will now have to pay GST and making charge according to the increased price. Now suppose you are buying a gold chain of Rs 80,000, which has 15 percent making charge. In such a situation, you will have to pay Rs 80,000 for gold, Rs 12,000 for making and Rs 2400 as 3 percent GST. Due to which your chain of Rs 80,000 will be a total of Rs 94,400. Special care has to be taken that as the prices of gold rise, the total charge of making charge and GST will also increase in the same rapidly.
Gold ETF will be the best option for investment
If you are investors who like to invest in gold, then Gold ETF will be the best option for you. Gold ETF is a mutual fund category. On this, you will neither have to pay a making charge nor GST. Gold is invested in gold bullion through ETF. Its one unit is equal to 1 gram of 24 carat gold. Gold ETFs are purchased and sold in the stock market. If you sell Gold ETF, then you are transferred directly to the account of equal money, not physical gold. To trade Gold ETF, you must have a demat account.
More profit than physical gold in Gold ETF
The price of gold ETF also keeps decreasing and increasing along with the price of gold. When the price of gold increases, the price of a unit of gold ETF also increases. That is, you will get the same profit on Gold ETF as you have on physical gold. In the true sense, Gold ETF will make more profit than physical gold. Actually, by selling physical gold, you only get the value of gold and the money spent in GST and making charge is wasted. Whereas in Gold ETF, neither GST is imposed nor making charge, in such a situation, a lot of money is saved.
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