Gold has always been one of the steadiest form of investments, It has seen a stable growth over the years. 30 years back the price of 24K gold was 4700 INR for 10 grams, it is the year I got married and yes, we had to buy gold for the marriage as per our traditions. At that time also we found it expensive, because income was not much, and I had just got my first job so it was not easy at all. Though for the marriage it was my father who bought all the gold jewelry. And I would think that time that when my child will grow up, I will also have to do similar things and I could never anticipate where I would be in life 30 years down the line, so these thoughts would worry me. Considering all that, after my marriage, I made it a habit of buying some gold every year.
For us Indians Dhanteras is a very auspicious day to buy Gold, we believe it brings in good fortune. Every year on Dhanteras as a ritual I buy Gold, then it can be sometimes 1 or 2 grams also. I would save every month little for this, because again spending big chunk of money at once was not possible in those days. Then there were some financial difficult times in my life where I had to sell of some gold to get the money, so while it came in, it also went out, but over the years I could save up on little from what I have kept buying.
Today the gold price is 99K INR for 10 grams 24k gold which is like 20 times growth in the last 30 years and I believe that it's the best form of investment always steadily moving up and no volatility. I would always put my finger first on this investment, it is a steady growth. For young people they can still think of saving a big amount in gold right now and then leave it for their retirement corpus. It will surely fetch them good money. Crypto investment is good, but it has lot of volatility, it will take many years for stability to come in the crypto market, and once stability comes, then it may not even attract that many investors. Right now, people think crypto as a short term get rich quickly investment scheme, though that's not the case.
With the price going up so much every year, it is becoming difficult to buy even little gold, and every year my quantity keeps going down. I feel it's still ok whatever I can buy, because even 1 gram of gold has a big value these days. In 2 months' time is Dhanteras again and I guess by that time the price of gold will cross 100K INR...phewww, that will be too much, but it's still worth it to invest in Gold, because it will only move up from whatever price you buy. It is one of the best forms of Investment.
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