Last updated on: 3th Feb 2023 10:00 AM
Phagwara, a city in the Indian state of Punjab, is known for its growing economy and investment opportunities. With a thriving business community and increasing number of investors, Phagwara has become an attractive location for those looking to grow their wealth. One such investment option that has been popular for centuries is gold, a precious metal that is widely considered a safe haven for investors. From its stability to its growth potential, investing in gold has been a preferred choice among investors.
In this blog, we will explore the benefits of investing in gold in Phagwara and why it is a smart option for both seasoned and first-time investors. From understanding the basics of gold investment to exploring the different forms of gold investments available in the city, we aim to provide you with a comprehensive guide to make informed investment decisions in Phagwara.
Gram | Yesterday | Today |
---|---|---|
1gm | ₹5,744.00 0.00 (0.00%) | ₹5,744.00 0.00 (0.00%) |
8gm | ₹45,952.00 0.00 (0.00%) | ₹45,952.00 0.00 (0.00%) |
10gm | ₹57,440.00 0.00 (0.00%) | ₹57,440.00 0.00 (0.00%) |
100gm | ₹5,74,400.00 0.00 (0.00%) | ₹5,74,400.00 0.00 (0.00%) |
Demand for gold is a major reason for the fluctuation in prices. Gold jewellery has always been a popular way for Indians to invest in gold. Moreover, gold prices also have a relation with inflation, the stock market, government policies and geo-political developments.
Gold price changes due to various factors such as:
Day | 24K Gold | 22K Gold |
---|---|---|
04 Feb 2023 | ₹5,744.00 0.00 (0.00%) | ₹5,470.00 0.00 (0.00%) |
03 Feb 2023 | ₹5,744.00 0.00 (0.00%) | ₹5,470.00 0.00 (0.00%) |
02 Feb 2023 | ₹5,744.00 90.00 (1.60%) | ₹5,470.00 85.00 (1.58%) |
01 Feb 2023 | ₹5,654.00 26.00 (0.47%) | ₹5,385.00 25.00 (0.47%) |
31 Jan 2023 | ₹5,628.00 -16.00 (-0.28%) | ₹5,360.00 -15.00 (-0.27%) |
30 Jan 2023 | ₹5,644.00 0.00 (0.00%) | ₹5,375.00 0.00 (0.00%) |
29 Jan 2023 | ₹5,644.00 0.00 (0.00%) | ₹5,375.00 0.00 (0.00%) |
28 Jan 2023 | ₹5,644.00 16.00 (0.29%) | ₹5,375.00 15.00 (0.28%) |
27 Jan 2023 | ₹5,628.00 -63.00 (-1.10%) | ₹5,360.00 -60.00 (-1.10%) |
26 Jan 2023 | ₹5,691.00 42.00 (0.75%) | ₹5,420.00 40.00 (0.75%) |
Gold prices are prone to short-term fluctuations. On the other hand, it has consistently provided significant long-term returns. Gold is a wise investment because it has historically protected investors from inflation and currency volatility.
Bank fixed depostis are also considered a safe investment. Investors get a fixed return on the deposit's maturity based on the terms and conditions.
Investing in gold is considered important and it has provided a high rate of return in the long run. Returns from gold may vary from time to time based on the conditions mentioned above.
The assured returns on fixed deposits are their principal benefit. Senior citizens may also profit from higher interest rates offered to them.
Loans up to 80% of FDs are provided by most financial institutions. Many banks and non-banking financial companies (NBFCs) provide loans against FDs at lower rates than those of personal loans.Taking a loan against gold is also a valid option.
Gold is among the most popular investments due to its high level of liquidity. Take the physical gold to any reputed jeweller and you can get the cash in return. On the other hand, the liquidity of FDs is based on the financial institution's policies. You have the option to liquidate your FDs prematurely.
There are several ways to invest in gold, including gold bullion, gold stock, and gold exchange-traded funds (ETFs). Your investment will decide the length. FD's tenures range from seven days to ten years. Remember that the financial institution and the products you choose determine the terms.
Day | 24K Gold | 22K Gold |
---|---|---|
01 February 2023 | 5654 | 5385 |
07 February 2023 | 0 | 0 |
Highest | 5744 | 5470 |
Lowest | 5654 | 5385 |
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