What is it with billionaires and gold?
When billionaire Sam Zell warned at the end of December that the dollar’s status as the world’s principal reserve currency was in jeopardy, it nudged something in the back of the mind about the number of billionaires over the past year who issued similar warnings. The wealthiest among us, it seems, are also the most vocal and proactive about the dangers they see dead ahead. Meanwhile, the unschooled masses utilize online investment portals from Robinhood to Schwab to dash headlong into the most wildly overvalued stock market in history.
In a recent MarketWatch interview, Charlie Munger, another billionaire and Warren Buffett’s business partner called the current stock market frenzy “the most dramatic thing that’s almost ever happened in the entire world history of finance.” He believes that “we’re in very uncharted waters. Nobody has gotten by with the kind of money printing now for a very extended pe
Synopsis
For Indians, buying gold is a tradition. The asset is never sold except in extreme emergencies and is handed down from generation to generation. However, this is not a good financial planning strategy, especially after the recent rally in gold.
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Shifting your gold holding to sovereign gold bonds is a smart move. The 2.5% interest is its main attraction.
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ET Wealth reached out to experts to know how investors can safeguard their finances from the volatility that raged in 2020 and the uncertainty that looms in the horizon. This week’s cover story explains 11 steps that one should take now to improve one’s finances in the New Year.
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Sovereign Gold Bonds: Subscription opens today
Buying gold is always considered one of the safest investments. It is highly advisable to have gold in your investment portfolio to minimise the risk. The government has just opened the Sovereign Gold Bonds 2020-21 (Series IX) for subscription. For those willing to invest in gold, this could be a safe mode for them to park their money. The last date for subscription is January 1, 2021, with January 5 as the settlement date.
The price of one unit (1 gram of 24 karat) is Rs 5,000 per gram. The government is giving a discount of Rs 50 if investors apply using the digital mode.
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Gold Investment: Sovereign gold bonds price fixed at Rs 5,000 per gm, subscription from December 28
The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold, the Reserve Bank of India said in a statement on Thursday. The Sovereign Gold Bond Scheme 2020-21 - Series IX will be open for subscription from December 28, 2020 to January 1, 2021. The nominal value of the bond. works out to Rs 5,000 per gram of gold, the RBI said.
The value of the bond is based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd) for gold of 999 purity of the last three business days of the week preceding the subscription period, that is, December 22-24.
Wondering How To Start Investing While In College? Check Our Expert Guide
by Femina | December 21, 2020, 13:32 IST
As a college student, investments are probably the last thing on your mind. You might have heard your parents or older friends talk about investing in stocks or mutual funds. However, being still in college, should you be thinking about investing? Probably yes. There are some amazing benefits that you can reap if you start investing the day you turn 18.
The foremost advantage is the fact that the longer you stay invested, the better chance you have at creating wealth at a younger age. Also, young age brings a higher risk tolerance since you have more time to recover from any setbacks in your investments. Finally, you get the opportunity to benefit from the eighth Wonder of the World – compound interest. But, investing comes with certain risks. Hence, understanding all aspects of investing is important to avoid making erroneous decisions. Here are some tips