Gold-Silver Investment: Bought gold on Dhanteras and Diwali, now use it like this, you can earn money sitting at home...

Gold-Silver Investment: This year, people bought gold in large quantities during Dhanteras and Diwali. Gold and silver prices set records. Gold prices reached an all-time high of ₹2 lakh. Total purchases during this festive season were estimated at ₹1 lakh crore, with gold and silver alone accounting for ₹60,000 crore, a 25% increase compared to last year. Now that you've bought gold, how do you use it so that this investment multiplies your profits in the future? In this article, we'll tell you where you can use your purchased gold.

More than Jewelry, Focus on Investment
Traditionally, we buy jewelry on Diwali, but experts say we should consider it a planned investment rather than just an emotional purchase.

Gold jewelry attracts making charges and GST, which reduces your earnings upon sale.

If your goal is solely to invest, consider options like gold ETFs or digital gold instead of physical gold. These are less susceptible to theft, and you can invest even in small amounts of 24-carat purity.

Use a Gold Loan
If you suddenly need money, selling your gold should be your last resort. Instead, you can take out a gold loan.

Gold loans are easier and faster because banks provide immediate funding against your gold as collateral.

They often come at a lower interest rate than personal loans because they are a safer loan.

Your gold remains safe with the bank or NBFC and is returned to you after repaying the loan. According to RBI regulations, banks can generally provide loans up to 85% of the market value of the gold.

Take advantage of government schemes.
If your gold is lying idle at home, you can deposit it with a bank and earn interest. Under the GMS, you can deposit your gold jewelry or coins with a bank. You earn an annual interest rate of 2.25% to 2.5% on your deposited gold. Upon completion of the term, you can either withdraw your gold or take cash.

Take advantage of gold leasing.
Gold leasing is a new option for those who don't want to sell their gold but still want to earn money from it. This means you can lease your gold to jewelers who then use it. This means your gold earns you money without you even doing anything.

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