SGBs, physical gold or ETFs: Which is the best investment choice this Dhanteras?
Dhanteras, a significant day in the Indian calendar, marks the auspicious occasion when households across the nation invest in gold. This tradition is deeply rooted in the belief that buying gold on this day brings prosperity and wards off negativity. As the festivities approach, investors face the perennial question: should they opt for physical gold, gold ETFs, or the lesser-known Sovereign Gold Bond Schemes (SGBs)? In this article, we'll delve into the historical significance of Dhanteras, explore the merits and demerits of each investment avenue, and shed light on why this year, SGBs deserve serious consideration.
Dhanteras, also known as Dhanatrayodashi, holds profound cultural and religious significance in India. It signifies the 13th day of the Hindu calendar and is dedicated to the worship of Goddess Lakshmi and Lord Dhanvantari, the god of Ayurveda/Medicine. The legend of Dhanteras tells the story of a young bride's ingenious plan to save her husband from a prophesied snakebite death.
She piled up all the gold and ornaments in the palace outside their door and kept her husband awake with stories and songs as the fatal hour approached. When Lord Yama, the God of Death, arrived in the form of a serpent, the brilliance of the treasures and the bride's melodious songs distracted and charmed the snake. As the time for the predicted death passed, the snake departed, sparing the prince's life.
This legend gave rise to the tradition of buying gold on Dhanteras, believed to bring good fortune and prosperity. In today's dynamic investment landscape, investors have a plethora of options to choose from when it comes to acquiring gold. These include holding physical gold, investing in Gold ETFs, or considering the
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