As a gold investor you don’t just need to look up gold price today Ahmedabad or the city you are in and then invest, you also need to know about the different storage options available for the gold you are going to buy. There are several options you have when it comes to storing gold in a bank. Here are some of the alternatives:
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The bank vault
This is a fairly secure way to keep your gold safe. Banks have high-security vaults and they offer their customers the option of renting out space there. One can easily store the gold in this way and then use it only when necessary. The only problem with this method is that one needs to go through quite a bit of paperwork, which may be annoying.
Storage in a home safe
A safe at home is another great place that you could use to store your gold bullion safely. The advantage of this storage method is that one does not have to worry about paperwork or any other issues. Since the gold does not have to be moved often, it is fine to keep it in a home safe, as long as you do not move houses often. And once you do check today’s gold price in Mumbai or your home city and feel like selling only then would you need to move the gold.
Store gold in a safety deposit box
Safety deposit boxes are small lockers provided by banks that can be rented out on an annual basis for the purpose of storing valuables. The box can be accessed by the customer through a key or through a combination code. However, access to the safety deposit box is limited to only the customer concerned as he/she holds the key or knows the combination code.
Bullion Storage Facilities
These are the facilities that are offered by many companies where they will store and protect your precious metals for an annual fee. These facilities provide safe storage and they don’t reveal any information relating to their clients or their holdings. The main advantage is that these companies offer a segregated vaulting facility which means that despite keeping all the gold in one place; they segregate each client’s holding in different compartments.
Invest in digital gold
You may have heard of digital gold or you may not have heard it, but you can be sure about the fact that it is indeed one of the safest ways to store gold. With digital gold, you can just focus on investing and earning money and ditch your worries about how to store gold. Just to give you an introduction to digital gold, it is a way to digitally invest in gold and own gold without actually having physical gold in your hand. You can invest any amount you want through various brokers and financial institutions that allow you to invest in digital gold. Once you do make the investment the third party representing you will purchase the physical gold equivalent to the amount you invested and put it in a safe vault for you. The security and maintenance of the gold will be your broker’s responsibility. This is surely one of the simple and most transparent ways to invest in gold. The digital gold is highly liquid hence you can sell and get your returns plus profits anytime you want.