Akshaya Tritiya 2024: Should you be investing in digital gold or go for gold jewellery?

Akshaya Tritiya 2024: Buying gold on this day is a long-standing tradition that highlights wealth and a secure future for years to come. 

With the rise of digital avenues, a new option has emerged: digital gold. So should you be investing in digital gold or opt for the traditional charm of gold jewellery this Akshaya Tritiya?

Investing in digital gold can provide a stable safeguard against inflation and market fluctuations. It offers the same advantages as physical gold but without the extra expenses.

Dr. Ravi Singh, a market expert, points out, "Investing in digital gold offers a compelling alternative to traditional gold jewellery this Akshaya Tritiya. It provides a convenient and secure way to avoid storage expenses and the potential for theft. Transactions are conducted at market price, ensuring fair deals. Sovereign gold bonds, with a fixed annual interest rate of 2.5%, add to its appeal." This reassurance of convenience and security should make the audience feel more confident about digital gold as an investment option.

However, Shivam Batra, CEO of Rajni Jewellers, says, "Digital gold may serve as a good alternative for people who do not have available storage options or those who have short-term investment plans. But the fact is that for those people who, in search of a piece of jewellery that will be loved for years to come, would like to focus on quality, handcrafted gold jewellery is the best match out there."

“In India, gold is not just an investment but a testament to our cultural legacy. It has always symbolized prosperity and tradition. Even if gold prices this year may be increasing at a fast pace, it's important to see the bright side of things. It is also important to understand that the rise in prices reflects not only market conditions but also the true worth of gold as a tangible asset with enduring value,” says Piyush Gupta, director at PP Jewellers by Pawan Gupta.

Ultimately, the choice between digital gold and gold jewellery depends on your individual needs and preferences. For Akshaya Tritiya, the decision depends on your investment horizon, risk tolerance, and whether you desire a physical asset. Digital gold offers ease of purchase, storage, and potentially lower costs, while jewellery provides the tangible satisfaction of owning a physical piece. Hence, one must weigh the pros and cons of each option to determine which best aligns with your financial strategy.