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Here’s the Best Way to Buy Gold this Akshaya Tritiya

Team JAR
April 28, 2022
Here’s the Best Way to Buy Gold this Akshaya Tritiya

Akshaya Tritiya (or sometimes called as Akti or Akti Teej) is an auspicious Indian festival celebrated mainly by the Hindus and the Jains. A day believed to bring good luck and success, Akshaya Tritiya is mainly associated with buying Gold as a property. Highlighting the religious background, this day happened to bring prosperity in several instances: 

  • It is believed to be the day when lord Krishna gave Draupadi the Akshaya Patra that was capable of feeding the entire universe and still not be emptied. 
  • In another instance, it's the day when Sudama arrived in Dwarka to meet his childhood  friend, Lord Krishna and carried home enormous Akshaya (never-ending) wealth and prosperity. 
  • In some other similar beliefs, the auspicious Indian river, Ganga, descended from heaven on earth.
  • On this day, the goddess of prosperity, Annapurna, was born. 
  • Tirthankara Rishabha’s fast came to an end by drinking sugarcane juice.   

Pertaining to these auspicious stories, this day became an epitome of wealthy gains and prosperity. The investments in Gold and other property and charities became rituals for people. Gold has always been important for Indians, it is considered as a pious metal and is prominently used even in rituals. From being an Indian women’s pride to being a smart investment option to curb the impact of inflation on the pocket, Gold is the real saviour! 

Not just India, but the whole world loves and understands the significance of Gold right from the times when the Gold standard was the dominant economic framework for most countries competitively involved in world trade. 

There are several reasons behind the popularity of Gold, especially around festivals like Akshaya Tritiya and the reason why it is considered one of the best investment options (and we can’t deny them). So let's see what makes Gold an exciting investment plan. 

Why invest in Gold?

Anyone with superior knowledge of finance would tell you that Gold has always been and will always be one of the safest investments. It helps to cover the financial risks involved in several financial transactions and is a good backup against inflationary tendencies since Gold never runs short of demand and returns are quite high. In addition to the previously elucidated point, Gold is not just a good hedging for inflation but for deflation too. Its power makes it an amazing financial portfolio diversifier. 

Since Gold has served as money for longer than any other currency, it is also a reliable store of value for long term financial commitments. Due to the fact that currency prices keep on fluctuating, Gold is a much safer way for countries to save their overall financial health by still keeping Gold reserves. 

Another interesting benefit of Gold is that it would hardly ever make you go bankrupt. Since there is almost no intermediary involved in fulfilling any contractual obligation, Gold can always be sold to get money whenever the financial bubble bursts and recession takes over the country. Being the last man standing to save you, Gold is the best guardian. 

With its straightforward purchase that requires no special specialisation and highly liquid nature, Gold can always be easily used for money.

With the advent of digitalisation, even Gold has upgraded itself into Digital Gold. This Digital Gold is becoming progressively popularised. Several online financial tools and apps like Jar, provide you the option to easily invest in Digital Gold to secure financial assets. 

What is Digital Gold? 

Digital Gold typically refers to the virtual method of buying and selling of the yellow metal (Gold) without actually holding it physically. That means, you can buy Gold and the seller will store it in insured vaults on your behalf so that there is no maintenance or safe-keeping for you to additionally incur. The problem of finding a secured storage is completely eliminated. 

On a plus point, Digital Gold is highly liquid. Hence, you can hold currency by selling it anytime and from anywhere. For every gram of gold you buy, there is actual 24k gold stored in a locker in your name by one of the three gold banks in India - Augmont | MMTC - PAMP | SafeGold. Digital Gold is 99.99% pure. 

Why Digital Gold? 

 

If you are deciding to buy or invest in Digital Gold, you must know some basic pros and cons of doing so. Digital Gold is very easy to invest in. There are plenty of online platforms that offer the facility of investing in digital Gold. Almost all of them, like Jar, give the investor the  option to start investing with just 1 rupee! 

What makes Digital Gold an attractive investment is definitely its flexibility to convert into real Gold. Yes, you can get the Gold delivered to your doorstep if you want to! While being of top quality, it is 100% insured too. You also get the option to gift Gold digitally to anyone you want, from anywhere and anytime. Hence, it serves as a strong candidate for being held as collateral for online loans. 

Where to get Digital Gold from? 

Earlier, there were several options to purchase Digital Gold from. However, after the guidelines from the Securities and Exchange of  India that refrains brokers from selling Digital Gold, there has been a limitation on sources for buying Digital Gold. There are 3 entities like MMTC-PAMP India, Augmont Gold Ltd and SafeGold India, that deal in Digital Gold. 

Looking for a credible source for investing in Digital Gold can be a challenging task, however, we can ease out your search by suggesting the Jar app. With its user-friendly interface and features and reliable investment plans, Jar continues to serve as the best investment application in Digital Gold. Start with just rupees 10 and convert your money in Digital Gold. 

This Akshaya Tritiya, bring home Gold and secure your financial future. With blessings from the universe, may your investment reap the sweetest fruits for your financial portfolio. You can get Gold physically delivered to your doorstep or virtually gifted to your loved ones, all through the Jar app. Read more about it here. Download the JAR app now.