Many Indians now find it difficult to afford the precious metal as gold prices have increased by more than 40% and 70% in the past 24 months. Fear of missing out, or FOMO, is making more expensive gold accessible. As part of your overall financial plan, you must continue accumulating gold over time to prevent this.
Considering that jewelry requires 5–20% manufacturing costs, gold coins are an affordable alternative for anyone seeking to purchase actual gold. Because they are available in several denominations and purity levels of 22 or 24 carat, they are reasonably priced and simple to turn into cash.
Because they are low risk and simple to sell when needed, gold coins are becoming more and more popular. They are available for purchase online, at private jewelry showrooms, and through government-backed stores. However, because the prices for each denomination and related purity vary, purchasing gold coins can be challenging.
The current price of gold is $3,360, which is a little less than the peak of $3,500 that was reached on April 22. Gold is expected to have a bright future, which will make it more expensive for many Indians. The CEO of DoubleLine Capital projects that gold will rise about 15% from its present price to $4,000 an ounce.
