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Gold is better.
Is Gold a good option to exchange your ₹2000 note?
Is Gold a good option to exchange your ₹2000 note?
Of course, gold is a much better option to exchange your ₹2000 note than depositing money in your bank account. Why? Because Golds' return on investment far exceeds the Fixed deposit interest rate. Just have a sneak look at how Gold has been performing for centuries! ... For example, had you deposited ₹1,33,000 FD in 1980 for 43 years, then today your FD's value is ₹43,17,957.12 whereas had you bought 1kg gold for ₹1,33,000 in 1980, then your today's gold value is ₹58,54,720 Thats a big difference of ₹15,36,762.88.
In other words, on an investment of ₹133,000 gold got you ₹35,738 or 26.87% extra income every year.
So, what do you say, "Should you invest in gold or make an FD?"
You know, return wise NIFTY 50 does much better than gold. People call NIFTY 50 a risky investment, but statistics show otherwise.
NIFTY 50 vs Gold is a separate matter.
If you decide investing in gold, then you should keep the following points in your mind.
- Single Jeweller will not sell you gold valuing over ₹2,00,000 in cash in a single day because Income tax Act will penalise the jeweller.
- Single jeweller will ask for your PAN if transaction value is over ₹2,00,000.
- Single jeweller will ask for a declaration stating that source of funds is legitimate if you buy over ₹10,00,000 gold from one jeweller in a month. This is the Prevention of Money Laundering Act's provision.
- You should look for a HUID hallmark, BIS Mark and purity mark.
- Time is the essence you've 4 months to get rid of ₹2,00,000 note.
