Money Excel - Personal Finance Blog

Menu
MENUMENU
MENUMENU
  • Home
  • Business Ideas
    • 225 Small Business Ideas
    • 40 Online Business Ideas
    • 20 Business Ideas for Beginners
    • 20 small manufacturing business
    • 30 Food Business Ideas
    • 100 Business Ideas low investment
  • Stock Market
    • Best Demat & Trading Accounts 2021
    • Best Virtual Trading Apps
    • Best Stock Screener
    • Best Discount Brokers in India
    • Multibagger Stocks of LockDown
    • Rakesh Jhunjhunwala Portfolio
  • Mutual Funds
    • Best Mutual Funds 2021-22
    • Best Direct Mutual Fund Platform
    • Best Mutual Fund Mobile Apps
  • Incometax
    • Income Tax Calculator FY 2020-21
    • Latest Income Tax Slab FY 2021-22
    • Income Tax Refund Request
    • Pay Advance Tax Online
    • Download New 15G -15 H Forms
  • Investment
    • Best Investment Options 2021
    • Long Term Investment Options
    • Best Investment Regular Income
    • Best Investment Options NRI
  • Credit Card
    • Best Credit Cards 2021-22
    • Best credit card for online shopping
    • Best Forex Card in India
    • Best Business Credit Cards
    • Credit Cards against Fixed Deposit
  • Insurance
    • Best Term Insurance Plans 2021
    • Best Health Insurance 2021
    • Best LIC Policy 2021
    • Best Car Insurance Companies
    • Best Mobile Insurance Companies
  • Downloads
Home
Gold
Buying Gold this Dhanteras is advisable? – Gold Big Loser

Buying Gold this Dhanteras is advisable? – Gold Big Loser

Raviraj Parekh June 9, 2019

Dhanteras

Dhanteras is auspicious occasion as per hindu mythology. Dhanteras is the first day of diwali festival. This festival is also known as Dhan Trayodashi. This year dhanteras will be celebrated on 9th Novemeber, 2015. On dhanteras we worshiped goddess lakshmi to provide prosperity and wealth as a blessing.

Buying gold on dhanteras is tradition. It is believe that gold purchase on this day bring good fortune and never diminish. You must be ready to go out and shop gold on this day, However, before you actually decide to buy gold let’s take a look at some facts and figures about gold.

We have recently seen that gold price is showing correction up to 26000 Rs/. Gold price is reduced by 4% compare to previous year. In the global market gold is trading at lowest level of the month. This recent downturn in gold may not be temporary and it may continue in future. Probably it doesn’t make any sense to buy gold at current levels.

Do not miss below posts -
  • Why Gold Rate in Indian cities are different?
  • Buying gold this Akshaya Tritiya is advisable?
  • Gold Price Prospective 2014 and beyond

Gold is giving constant negative returns since past three dhanteras. Let’s look at the gold price history of past five dhanteras.

Gold Price History Dhanteras

Gold Price

Gold Price History

Gold is losing shine since past three years and expected to under perform in future.

Other Important Facts about gold

Gold Import Reduction – Gold import is reducing because of increase in gold import duty and reduction in gold demand. Gold demand in local market is likely to remain weak. Demand of gold is reduced by 10-15%.

Gold Monetization Scheme – Gold monetization scheme is recently launched by Prime Minister Narendra Modi.  Gold monetization scheme will further reduce gold price globally as demand of gold will be fulfilled locally.

Gold Demand and US Dollar Decline – Weak fundamentals like stronger US dollar and decline in investment demand will push gold prices even further to lower level.

Fed Rate Hike – It has speculated that gold may fall to Rs 20,500 per 10 grams in India if the US fed announces a rate hike which is inevitable.

If you are still want to buy gold on Dhanteras than buy 1 gm gold as a token of prosperity with religious reason.

How to Invest in Gold:-

There are various methods of purchasing gold. You can purchase gold in terms of jewellery. If you feel price of gold is high you can purchase light weight jewelleries, but remember physical jewellery purchase will be always costlier as you need to pay making charges and VAT.

Similar to this you can purchase gold bar or coin etc. but still you need to pay VAT.

Best way to invest in gold is by means of purchasing Gold ETF. Gold ETF can be purchased even with very small amount like 1 unit (Equivalent of 1gm gold).

So on this Dhanteras avoid big buying of gold and purchase only 1 gm gold or 1 unit Gold ETF as a good luck.

Happy Diwali & Happy Dhanteras in advance.

Tweet
Share
Whatsapp
Pinterest
Prev Article
Next Article
Tags:dhanteras gold buy dhanteras gold dhanteras gold history gold price gold price future

About The Author

Raviraj Parekh

Raviraj is the man behind moneyexcel.com. He is PGDBA, engaged in blogging for 10 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

Leave a Reply Cancel Reply

Search

Top Posts & Pages

  • Income Tax Calculator FY 2020-21 (AY 2021-22) – Excel Download
  • Rakesh Jhunjhunwala Portfolio Holdings - March 2021
  • Download Income Tax Calculator FY 2021-22 (AY 2022-23)
  • 20 small manufacturing business ideas with low cost
  • How to check Property Records and Land Records online in India?
  • Cash Deposit Machine Locator – How to find CDM Near You?
  • LIC Premium Paid Certificate Download For Income Tax Purpose - Online
  • 235 Small Business Ideas with Low Investment in 2021-22
  • Top 60 Manufacturing Business Ideas
  • 30 Food Business Ideas with low investment

Subscribe to Blog via Email

Join 5,475 other subscribers

Follow MoneyExcel

Money Excel – Personal Finance Blog

Personal Finance Blog
Copyright © 2021 Money Excel - Personal Finance Blog
| About |Downloads | Contact Us | Sitemap | Disclaimer | Privacy Policy |