Rajesh Exports MD : Investing in Gold is a Far Better Option than Crypto-Currencies
“Investing in gold is a far better option than crypto-currencies”, explains Rajesh Mehta, the Rajesh Exports MD. The gold industry tycoon is not wrong. While gold prices are stable and empirically dependent on supply and demand, crypto-currencies like Bitcoin and Etherum are influenced by their growing community and how much someone is willing to pay for a single Bitcoin.
Rajesh Mehta advises that gold investments are easier and you can employ various methods. The most common of them is buying jewellery. As the owner Shubh Jewellers, Rajesh Mehta has observed that there is a huge rise in the number of people buying golden jewellery for the sole reason of investment.
Over the years, gold has shown varying peaks in the rates. The price however, has never fallen below Rs 69,000 per ounce in the last five years. This makes it a relatively safe investment. Bitcoin, on the other hand, was worth almost $25$ in 2013. After 4 years, this price jumped by 437 times to almost $11,000. “If the increase in rates was so sudden, the decrease can be too”, explicates the Rajesh Exports MD. It’s a risky and unstable deal.
Gold Exchange Traded Fund is another way to earn money from your gold by putting it in a mutual fund. The units you have invested will be listed in the stock exchange through this fund. To invest in Gold ETFs, you’ll need to open a demat account and trading account. A brokerage fee of 0.5% of the gold price will have to be paid. Moreover, 0.5% to 1% of the total investment has to be compensated as fund management charges.
These schemes might seem risky at first, but they’re secure when compared to crypto currency. India will soon experience Glint, an app made by a London based fintech in association with Lloyd Banking Group and Master card. The app reportedly lets its customers store money in gold. It can be converted back into currency at any point of time and vice-versa. The app makes it easy for investors to manage their gold.
Tax laws in India do not allow such exchanges. With the advent of digitization, such archaic laws need to be altered. Instead of crypto-currencies, India should build an online system to trade and invest in gold assets. Gold industry experts believe that it’s a really good way to fight against the instable system crypto-currencies might fester.
Rajesh Exports is gold manufacturing and distribution company with a revenue of over $38 billion. The gold conglomerate has recently acquired Switzerland-based Valacambi Refinery. Analysts believe that id Rajesh Exports opens an online portal for gold investment. It could bring a digital revolution in the gold industry. Surprisingly, it have been reported that the Bangalore-based company is moving towards digitization.