It would be immensely profitable to own huge quantities of gold in the form of jewellery, coins, or bars, but it’s also just as hard to do so given the high prices of the yellow metal. This is where gold-based savings schemes can come handy, but are they really worth your money?
Read the full story here: https://gulfnews.com/your-money/saving-investment/buying-gold-jewellery-by-paying-instalments-every-month-is-that-a-good-idea-1.1693925202987
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Read the full story here: https://gulfnews.com/your-money/saving-investment/buying-gold-jewellery-by-paying-instalments-every-month-is-that-a-good-idea-1.1693925202987
See more videos at https://gulfnews.com/videos
Read more Gulf News stories here: https://bit.ly/2HLJ2km
Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV
#UAEnews #gold #jewellery
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NewsTranscript
00:00Has the sky-high prices of gold ever stopped you from making large purchases of jewelry?
00:13Then you're not alone.
00:15This is why jewelers come up with saving schemes where you can buy gold after paying for it
00:19in installments.
00:21But is this wise?
00:22Yes, it does help make gold more affordable for you and can help you save.
00:28But there are risks.
00:30For instance, you will have to buy gold from the same jeweler where you started the scheme.
00:35And if you don't find what you're looking for, you won't be able to get a refund on
00:38your deposits.
00:40Similarly, you will have to buy gold at the market price at the end of the deposit term.
00:45And as you may know, market prices fluctuate very severely and this raises the chances
00:49of your losses.
00:51So keep in mind these risks when approaching jewelers and using their saving schemes.
00:58For more information, visit www.fema.gov