Yesterday, there was Akshaya Tritiya, a festival which is famous for buying gold but the lockdown we are facing right now has impacted this badly, as data shows that there is a 95% decline in gold purchases, this year in Akshay Tritiya, because we can not go outside in the lockdown for purchasing gold. it has also forced us to think that the liquidity of physical gold may also be impacted during such kind of situation.
So this is the time for us to think wisely about the paper gold or gold-oriented mutual fund.
It has a few extra benefits than physical gold
- No holding cost.
- No risk of theft.
- Can be liquidated from anywhere at any time.
- It can be bought even with a small amount.