Akshaya Tritiya is around the corner and traditionally it is considered an auspicious day to accumulate wealth like gold (assumed anything purchased that day will multiply). But why not consider the gold mutual funds option this year.
Why gold mutual fund?
You will spend on locker charges to safeguard the gold ornaments but you needn't spend even a penny to safeguard your investment in the fund. The craze for the new jewellery will remain only for some time, then it becomes old-fashioned. It is never so with the fund. You may think the value of your gold has increased over a period...but it is always going to be a notional gain and not a real gain.because most of us will never sell gold. (Even if you happen to sell your old jewellery, you will not opt for cash. Rather you will exchange it for a new design) It’s easy to sell the mutual fund units, without any sentiment attached to it.. So, buy gold the mutual fund way this akshaya tritiya (or any day for that matter) and watch your money really grow (No more notional profits ).