 "Akshaya Tritiya: You need not pay transaction fee to buy Gold ETFs today")
Akshaya Tritiya is considered an auspicious dayby Hindus to buy gold . While there are many forms in which you can but the yellow metal, like jewellery, gold coins and bar, even e-gold-buying it in paper form via gold ETFs-works well.
In fact, if you are looking to buy gold today, instead of visiting your local jeweller, we suggest you call your financial broker instead.
Reason being, both the National Stock Exchange and Bombay Stock Exchange have decided to waive off transaction charges for all trades in gold ETFs today, keeping in mind investors’ demand for the glittering metal, due to Akshaya Tritiya. That’s not all, both the stock exchanges have in fact, also extended their trading session for Gold ETFs until 7 pm, today.
[caption id=“attachment_776391” align=“alignleft” width=“380”] Gold ETF is one of the best ways to buy gold. Reuters[/caption]
Gold ETF is one of the best ways to buy gold. You don’t need to break your head over purity since it is not physical gold. Here the gold is in electronic demat form. One unit of gold ETF is typically equivalent to 1 gm of gold. Here you will have to bear the charges of opening a demat account as well as the brokerage as well as pay a fund management fee of 1 percent.
“Though the transaction fee waiver is a very small amount, if you are anyway planning to buy Gold ETFs, you might as well buy today,” said Suresh Sadagopan, a Mumbai-based certified financial planner. He also said the gold portion not be more than 5-10 percent of your total investment portfolio.
Keep in mind that after the regular market hours which are until 3:30 pm, the trading on Gold ETFs will begin again toady between 4:30 to 7 pm, which is four-and-a-half hour of more extended trading window.
If you want to buy a small portion of gold for religious reasons today, you could go ahead, but remember as a regular lay investor speculation in gold is not for you. To know why you should not buy gold for speculation read this.
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