Worried about gold price hike? Here's how to buy gold profitably without making charge

KOCHI: Gold prices are increasing daily. In the month of April alone, the rate has increased by Rs 5600 per pavan. Gold is priced at Rs 6,755 per gram and a pavan at Rs 54,040. If the price hike continues in this fashion, gold will remain a distant dream for the common man.

At the same time, gold trade in the state is also progressing well even as the price rises. People are hoarding gold because they are concerned about the rising price of gold on a daily basis. With the wedding season approaching, people are buying gold and hoarding it months in advance.

People are buying gold because the price will increase in the future, making it a safe investment. A pavan's price is Rs 54,040. In addition to this, when GST and labour charges are added, the average purchase price of a tola rises above 60,000.

Jewellery owners and employees say that many do not utilize the easy way to avoid the high labour charges. Now, the gold chit system is available in all jewelers. You can invest a fixed amount every month and buy gold on maturity.

Various schemes are available such as Gold Chit in jewelleries. Of these, a commission of 1% to 15% is required, but if the jewellery is bought as part of the gold chit, not a single rupee will be charged as commission. However, inquiring about the charges at the time of joining the chitti can save a significant amount of money.

Experts say that the price of gold will continue to rise in the coming days as the Israel-Iran conflict persists. Latest reports suggest that the price of gold will surpass one lakh in the near future.

According to a report by CNBC Avaaz, Mahendra Lunia of Vighnaharta Gold said that by 2030, gold prices will rise to Rs 1,68,000 per 10 grams.

Those who invest in diamonds are shifting to gold and the value of the dollar is depreciating, leading to the rapid rise in the price of gold. In such a situation, experts estimate that it will not be easy for common people to buy gold by 2030.