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Business News » India News

Raksha Bandhan 2018: Turn this Rakhi into a 'Golden' one for your sister

Gold is trading near almost two years low and experts think this is the best time you can gift gold or gold products.

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Raksha Bandhan 2018: Turn this Rakhi into a 'Golden' one for  your sister
This year on Raksha Bandhan you can gift long term benefits to your sister of financial products like health and life insurance, term insurance, mutual funds, FDs, pension schemes or gold, Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Sun, Aug 26, 2018
03:16 pm
New Delhi, ZeeBiz WebDesk
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Still couldn't decide the Rakhi gift for your sister and all you can think of is Shagun? Every year, brothers try to get the best Rakhi gift for their sisters. Of course, there exist hundreds of gifting options.  Some may be short-term pleasure gifts like chocolates, cookies or some may last a year or two like apparels and gadgets. However, none of these gifts grow in value or give returns. In fact, if you are gifting a gadget like a fitness band or a smartphone, their value drops around 30 to 40 per cent just after the purchase. 

Nowadays, experts suggest using your money wisely even while gifting things. And if the gift is for your near and dear ones, then it must add value to their life.  You can choose from a range of financial products like health and life insurance, term insurance, mutual funds, FDs, pension schemes and of course, gold.  

Gold is trading near almost two years low and experts think this is the best time you can gift gold or gold products.

"In India, people prefer to buy gold as it is a tradition and also because it is considered auspicious. This Raksha Bandhan, we are recommending to gift Gold, Gold jewellery etc to sisters. On this festival season, gold prices are trading at low levels of around Rs 29,900 on MCX, after making a high of levels Rs 32,000 in May 2018. Globally,  trade war tension and geopolitical tensions have grown and accumulation of Gold by Russian bank to increase its gold holdings suggest that the prices of gold futures are bright," said Anuj Gupta, Deputy Vice President - Research, Commodities and Currencies, Angel Broking.

The demand for gold and gold products will rise in the coming months, he said adding that prices may touch Rs 31,500 by next year. 

"We are expecting levels of Rs 31,000 to Rs 31,500  again till next year," said Gupta.

Tarun Satsangi, Globe Commodities, too thinks that with the stabilisation of the global economy, gold prices will go up and give good returns.

"The global economy will stabilise in coming days. Gold prices are at 17-month low and may give up to 10 to 15 per cent return in next one year," he added.

You can also get a Demat account for your sister and then invest in Gold ETF. 

Watch Zee Business video here:

"Gold Exchange Traded Funds (ETFs) are simple investment products that combine the flexibility of stock investment and the simplicity of gold investments," said NSE on its website.
These are open-ended mutual fund schemes.

"Gold ETFs are passive investment instruments that are based on gold prices and invest in gold bullion. Because of its direct gold pricing, there is a complete transparency on the holdings of an ETF. Further due to its unique structure and creation mechanism, the ETFs have much lower expenses as compared to physical gold investments," he added.

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TAGS:
Raksha Bandhan 2018financial product
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