Why Is Gold Gaining More Popularity than The Past Decade?
- by Admin
You might have noticed that gold is gaining popularity in the Indian market now more than ever. But have you ever thought, why is everyone interested in this yellow metal? And most importantly, why is this precious metal gaining more popularity than in the past decade?
Well, whether it is buying physical gold or digital gold, this metal has always attracted buyers. That is why the price of this shiny metal has topped $2,000 an ounce for the first time.
The constant increase in its price has grabbed the interest of new day traders and serious investors. Moreover, a recent survey of 1000 people has shown that one out of six people has purchased gold in the last three months.
Further, a survey has also revealed that one in every four people were thinking about purchasing gold. So you see, investors are highly interested in this yellow metal.
Why is the Gold Price Increasing?
Below are certain factors that influence the price of this precious metal.
Demand and Supply
The first thing that leads to an increase in gold’s prices is its demand & supply. If the demand for gold increases, its supply will decrease, thus leading to a price hike.
When the rate of interest increases, investors prefer to sell gold to earn greater profits. This leads to a decrease in gold prices.
On the other hand, when the rate of interest decreases, then investors do not prefer to sell gold as they do not expect a good return. This leads to an increase in gold prices.
Inflation is another factor that directly impacts the price of physical gold. When there is a rise in inflation, the value of the rupee goes down, so people prefer to invest in gold while expecting good returns in the future. This increases the price of gold in the market.
But in the case of digital gold, it is not affected by an increase or decrease in a currency’s value. This is one reason why many people now prefer to buy digital gold online.
Digital Gold vs. Physical Gold: What’s Better?
Are you thinking which is better, digital gold or physical gold? Well, both forms have their pros and cons. Where physical gold’s purity may vary, digital gold’s purity is guaranteed. Also, digital metal prices are uniform throughout the country.
But investors can use a physical form of this metal to avail loans and pass it on to the next generation.
Although both of them offer certain benefits, you are advised to choose digital gold investment amid Omicron to avoid any losses.
Where To Invest in Digital Gold?
If you are interested in making a digital investment in this yellow metal, you can trust MyGoldKart. It is an extraordinary website that is in sync with the latest technology and trends.
This platform was started by Kundan Refinery Pvt. Ltd., which has been leading the gold industry for the past two decades. MGK offers multiple offers to easily buy, sell, or gift 99.99% pure metal to their friends without any hassle.
You can simply log on to their website to start your digital journey with MyGoldKart. Then you need to register and verify your identity. After that, you can buy or sell 24k gold with just a click. And the best part? MyGoldKart lets you redeem them at your convenience online or offline.
This blog was really helpful in understanding why I should buy digital gold from a reliable website like MyGoldKart. This is a great platform for selling, delivering, gifting, and redeeming digital gold.
I have been using multiple wallets and monetary apps for investment, but by reading this blog, I have made up my mind to transfer all my investments to digital gold to take the benefits of demand and supply, interest rate and inflation.