Gold investment can be a good idea aimed toward asset building in 2024. It might not sound prudent, especially with gold prices reaching well above Rs. 76,000 per 10 grams. Since crossing the Rs. 50,000 mark in 2020, gold is all set to reach new heights. So, why should you consider investing in gold (or gold-related instruments) in 2024?
By gold investment, traditional wisdom still thinks of hoarding gold so that it can be sold at a higher price later on. However, it must be kept in mind that gold attracts heavy taxation. Therefore, investors are keen on investing in gold stocks and exchange-traded funds (ETFs) instead of buying actual gold. These instruments help you hedge against market volatility. Let us now take a look at the type of investments you can make and the taxation in place for different gold investments.