Hello Hive Fam!
Hope you are doing good and having great time wherever you are in the part of this world.
Gold prices are going up and it is one of the precious metal that allow people prefer investing with hope of decent rewards. Different people have different preferences of investing on the gold because some of them prefer to invest on the jewellery and some also by the pure gold in form of coins. I prefer investing on gold through the digital gold because I don't like to invest on jewellery. My region of not investing on jewellery it nothing but because it comes with certain charges which are like making or design charges. If I invest on the digital code then I won't have to pay any meeting charges at all so it is a better option and jewellery is more of an emotional investment that allow people don't like to sell and book profits.
There are multiple applications available through which we can invest on the digital gold and they have made the entire process easy and convenient. I got to know about an application called Gullak which provide this functionality wear we can invest money on the golden silver. One of my friend has been using this application for a long time so he suggested me to try this application.
It's been a few months for me using this application and I have set up the SIP mode of investment in the digital gold where I invest hundred rupees everyday. It gets deducted from my bank and invested in the gold and there is no manual intervention needed from my side. Because it is SIP which is known as systematic investment plans so it will be invested on the gold as per the current market price on that day when it is invested.
This application is government registered and the follow all the norms define by the regulating authority. I can generate the statement and check manually also that how this money is deducted and you can see that is no gap on this investment which is good because the entire process is automated.
There is also an option through which we can leave the gold and annual interest of 3 to 4% which is not very high but it is good to have because ultimately you are not earning anything on the holding so whatever is reward it is good. The primary benefit I am a me for with my investment on the gold is through the price appreciation and you can see that a decent returns achieved in just matter of less than 6 months. I will continue to invest through the same way and I find it very much easy because I do not need to top up my wallet or manage any friend somewhere to keep it going because it all happens automated and the amount is deducted from the bank automatically.
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They provide the option to get the physical gold delivery also but for now I do not have any such thought in mind so will continue to invest and will see how it will be doing in future but for now it is just about investing and continue to do that. On the overall investment XIRR, or Extended Internal Rate of Return is almost 57% and absolute return is ~24% which is very good. This has happened because of the continuous price appreciation happening on the gold prices.
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Images courtesy - Gullak app