Gold price by Investorocean.com
How Can You Make Gold Investments
Gold is many things all at once; it is versatile and is still unique in every sense. It does not amount to becoming a liability at any point because of its liquid nature and is most certainly is an asset. Investments in gold is not limited to buying gold in physical form these days you can also invest in different schemes as well.
Investing in Physical Gold
Investing in physical gold is buying gold in form of jewellery, coins, biscuits etc. They are the most traditional type of gold investment where you hold on to the physical asset and sell, if and when required, at a higher price.
Investing Gold ETF
Gold (Exchange Traded Fund) ETFs are like stocks and therefore implies that when you a piece of Gold ETF you also own a proportion of the total gold reserve in the market. However, any change in physical gold prices directly affects the difference of rate in Gold ETFs.
Investing in Gold Mutual Funds
Unlike Gold ETFs where you own a digital gold in proportion to the value of your investment, investment in gold mutual funds means that you own a share of the company, which directly mines the physical gold. Hence, any performance lapse in the company itself will affect your investments adversely.
Gold or Gold ETF
There are several parameter on which physical gold and a gold ETF may be differentiated; these differences when considered help you to access which type of gold investments suits your plan.
Physical gold investments have been traditionally very popular but has several parameters that makes it limited as compared with gold ETFs. The purity of gold in physical gold may differ depending upon the grade of the gold but when you invest with gold ETF you your investment is directly with traditional bullions that are 99.5 purity. The price of the physical gold may rise or fall depending upon the domestic market however; ETF pricing is fixed as per the international market.
Physical gold is known for its liquidity, which allows it to be easily traded at any bank, financial institution or jewellers anywhere in the world. Gold ETFs are listed on stock exchanges, which makes it even easier to buy or sell them. Physical gold is taxable based on its holding tenure while for short term investment it is taxable as per the income tax slab and for a long term investment the gains from the physical gold investment is at 20%. While gold ETFs are similarly taxed as the physical gold for short-term gold. Whereas the capital gains from long term is taxed at 20.8%, which includes cess charges.
Hallmarked 916 Carat Gold
Hallmark in gold is the certification for its authencity, for its purity and which has been verified as being of high grade. The Indian gold standard certifying institution is known as BIS (Bureau of Indian Standards) which is responsible in assigning the hallmark for gold standards. Hallmarked gold is the ultimate guarantee, which assures the buyer of the quality of the gold, its weight and the percentage of gold in the composition.
Being hallmarked assures that the quality of the gold is as stated by the vendor and that buyers are not misled when purchasing or reselling things. The BIS assesses and declares if a certain gold piece meets international purity criteria. The gold is examined in one of the 330 BIS assaying centres located around the country.
A hallmarked 916 Karat gold is the verified purity of the gold jewel which has 91.6% pure gold in it along with the alloy. They are also known as 22-carat gold as the second purest form of gold available, but as opposed to the 24-carat gold a 916 hallmark gold is preferred for jewellery because of its physical properties which is much more harder and stronger than the 24-carat gold.
Importing Gold
Even after having one of the most elaborate market for Gold, India still does not produce a huge amount of gold and thus does not contribute in meeting the growing demand of gold across the country. India is the second largest importer of gold in the world and the reserve Bank of India controls the flow of gold inside the country.
Import of gold in India requires special license issued by the Directorate General of Foreign Trade. Even for the licensed authorities they need to provide the report of the imported gold, regarding its utilisation along with related proofs to the Central Excise Office. The physical gold thus imported by the licensed authority can only be in the form of gold bars; coins and medals are strictly prohibited.
A person who has been residing the in foreign soil is permitted to import and carry jewellery of up to Rs. 10000, which is doubled in case of a female NRI. When the value of gold is beyond the prescribed free limit then a custom fee of Rs. 250 for each extra 10 gram of gold is applicable, however the maximum limit for such a person to carry gold along with them shall not exceed 10kg in total.
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