Akshaya Tritiya 2024: Gold jewellery or digital gold – which is the best choice?

financialexpress.com:

Akshaya Tritiya 2024: Akshaya Tritiya, a significant spring festival for the Hindu and Jain communities, is being celebrated today across the country. Buying precious assets, including gold, on this day has cultural significance. Traditionally, people have been buying physical gold on Akshaya Tritiya every year, but with each passing year especially in the wake of the arrival of new ways of gold investment, this pattern has been changing slightly.

With multiple gold investment options available beyond traditional gold jewellery items and coins now, more and more people have started exploring investment options in products like sovereign gold bonds (SGBs), gold ETFs, gold mutual funds, etc. Here are some of the factors people should consider when deciding between purchasing physical gold in the form of jewellery or coins and investing in digital gold, according to Ganesh Balakrishnan, Co-Founder, Aurm (an asset protection firm).

Also Read: Akshaya Tritiya 2024: Go digital, go gold! Reasons why you should buy gold digitally

Some factors to be considered while deciding on purchasing digital versus traditional gold jewelry include its purpose – as an investment, utility and gifting, he said.

Buying digital gold is purely an investment decision, buying physical gold jewelry goes beyond investment.

Traditional gold jewelry also has utility as ornaments for special occasions. Gold jewelry is a meaningful gift to your loved ones, especially when gifted on Akshaya Tritiya.

“Family customs and traditions are also important factors to consider. Many Indian households have a family tradition of buying jewelry on Akshaya Tritiya, where mothers and daughters go together to the store. The joyous experience that binds the family