Everybody is buying gold as a gift or investing in Digital Gold and you might be wondering, why? Don't be into the FOMO(Fear of Missing Out) zone. We can help you to understand this behaviour.
It's that time of year again - Lights illuminate the evening sky, the sound of fireworks brings joy, and gifts are exchanged.
Flowers, food, parties, new dresses - the festive season brings a different kind of excitement with itself.
We feel a sense of belonging and connection with everyone around us.
When auspicious occasions are around the corner, like Navratri, Dussehra, Karwachauth, Dhanteras and Diwali, people flock to markets to buy Gold.
Gold in multiple forms - Gold Jewellery, Gold Coins and Gold Bars. In recent decades, we've got more options to invest in Gold - Gold ETFs, Gold Mutual Funds, Sovereign Gold Bonds and Digital Gold.
We wear gold, flaunt gold, gift it, hoard it and eye it. This 24-carat of blinding, blingy brilliance has us completely smitten.
We even consider it as a valuable, worthy and prominent gifting option, especially on occasions like childbirth, marriages or festivals.
But why do people buy Gold on auspicious occasions?
In India, Gold has great cultural and religious significance - holding the topmost position among all metals.
Over the years, we became so infatuated with Gold that India now accounts for most of the gold consumed globally. This comes as no surprise to us, doesn't it?
That's because Gold is such an integral part of our lives, a symbol of wealth.
- Sacred and Pure - According to Hindu mythology, Gold is considered sacred and pure. It has a high emotional quotient and a high perceived value. It brings us closer and strengthens bonds between people.
- Colour of Positivity - The pleasing color of Gold is believed to radiate positive energies and aids in healing.
- Sign of prosperity and abundance - The tradition of purchasing Gold during Dhanteras and Diwali is considered equivalent to inviting Goddess Lakshmi and Lord Kuber, gods of wealth and prosperity at home.
Apart from the cultural and emotional quotient, there are a variety of other reasons why we Indians are considered Gold crazy:
- Equivalent for liquid cash - As a Security or Asset, gold is extremely liquid and portable. It can be converted to cash at any time in case of an emergency and is regarded as a helpful friend.
- Good Investment - Gold is a valuable asset that has consistently increased in value, making it a safe and secure investment. Gold has delivered more than 20% YOY return over the last five years. It is thought to be a good diversifier that helps to lower portfolio risk. According to investment experts, gold investments should account for 5% to 10% of a person's net investment portfolio.
- Great Gifting Option - Gifting Gold forms an integral part of most ceremonies and traditions. It is considered lucky, apart from being a key source of money. Gifting Gold is regarded as the highest form of gifting in our country, highlighting the value of an individual and the purity of intent.
And guess what? Gifting Gold has now become easy and hassle-free - through Digital Gold Investment App.
Invest in Digital Gold through Jar App. You can not only buy gold from the comfort of your own home but also send a gift to your loved ones at an unbeatable price.
Share a portion of your love with them through Digital Gold. Check out this Digital Gold Guide to know everything about Investing in Digital Gold.
Why should you buy and gift Digital Gold this festive season?
Here's why you buy and gift Digital Gold through Jar:
- Digital Golds are Highly Liquid
Digital gold can be easily bought and sold anywhere and anytime. You don't need to visit a dealer or keep a secure gold purchase account for many years to get the full resale value of the gold in the future.
- Easy breezy gold - from as low as ₹1
No hassle to go to people-laden, jam-packed markets this festive season. When investing in physical gold, you need to buy at least 1 gm of gold, whose price fluctuates every day.
Whereas, investing in digital gold is very affordable and can be bought and sold from as low as ₹1. It’s affordable and you can easily invest in digital gold even with limited income.
- 24 Carat Pure Gold, cheaper than the market
When buying gold jewellery, you not only have to pay the price of gold but also making charges and additional taxes.
Jewellers charge anywhere from 7% to 25% based on the design of your jewellery. If the chosen piece of jewellery includes precious stones and gems, the cost increases and its value is also included in the gold price.
When you deal with gold jewellery, you never need to collect or restore the value of that inlaid jewellery
With digital gold, you only trade pure gold, which is 24 carats of gold. The total amount you spend is invested in gold only. You only have to pay 3% GST at the time of making the purchase.
- Safe and Secure
Many people are reluctant to invest in digital gold because it is a new concept and they lack knowledge in this area. But not to worry, digital gold is safe as an investment choice.
Every gram of gold accumulated in your account is backed by real physical gold. This means that you are at no risk at any time.
- No storage concerns
In our Indian households, we’ve usually seen our elders keeping physical gold in lockers. That’s very risky as there’s always a fear of it getting stolen.
To avoid this, it is kept in a bank locker for the long-term which then incurs storage costs in the form of registration fees, annual fees, service fees, etc.
Digital Gold allows you to get rid of long-term costs and storage problems. The safe is free or insured at face value.
Explore more on how going digital is the smarter option when investing in Gold.
Make yourself and your loved ones feel special this festive season by gifting them Digital Gold through the Jar app.
Indulge in this investment that is deeply rooted in our culture and has no bounds when it comes to returns.
Discover how investing in Digital Gold is hassle-free through Jar App and start your Saving & Investing journey today by Downloading the Jar App!