Reliance My Gold Plan offers buying of Gold on daily basis.This plan claims to buy gold daily basis in equal tranche for 20 days & so its efficient way of buying Gold & it will avoid concentrated purchase of Gold.
Reliance My Gold Plan have provided the illustration of How this plan works & we have reproduced it for the readers of this blog.Remember that quantity of the Gold buying will depend upon the price of Gold on the specific day & it will be declared on official website of Reliance My Gold Plan.
Administration Charges of 1.5% will be added in daily Gold price & according with that price only Gold allotment will take place.
Illustration Of Reliance My Gold Plan:
Consider Monthly Subscription – Rs.2000/-.
SO Gold of Rs.100/- per day will be for next 20 days as per prevailing rates:
| Date | Subscription | Daily Subscription Amount | Gold Price – Per Gram | Gold Price After adding administration Charges | Gold Grams Alloted | Cumulative Gold Grams Added | |
| 24/05/2012 | Subscription amount Of Rs.2000/- realized in account of Reliance My Gold Plan | ||||||
| Rs.2000/- will be divided in 20 equal parts & Gold of daily Rs.100/- will be purchased for next 20 days.This cycle will be reiterated when next installment of Rs.2000/- will be received. | |||||||
| 25/05/2012 | Daily Avg.-1/20 | 100. | 3057.68 | 3103.55 | 0.0322 | 0.0322 | |
| 28/05 | 2/20 | 100 | 3075.16 | 3121.29 | 0.0320 | 0.0642 | |
| 29/05 | 3/20 | 100 | 3090.52 | 3136.88 | 0.0318 | 0.0960 | |
| 30/05 | 4/20 | 100 | 3072.19 | 3118.28 | 0.0320 | 0.1280 | |
| 31/05 | 5/20 | 100 | 3098.67 | 3145.15 | 0.0317 | 0.1597 | |
| 01/06 | 6/20 | 100 | 3086.81 | 3133.11 | 0.0319 | 0.1916 | |
| 04/06 | 7/20 | 100 | 3190.32 | 3238.17 | 0.0308 | 0.2224 | |
| 05/06 | 8/20 | 100 | 3242.75 | 3291.40 | 0.0303 | 0.2527 | |
| 06/06 | 9/20 | 100 | 3255.47 | 3304.30 | 0.0302 | 0.2829 | |
| 07/06 | 10/20 | 100 | 3200.38 | 3248.39 | 0.0307 | 0.3136 | |
| 08/06 | 11/20 | 100 | 3125.16 | 3172.04 | 0.0315 | 0.3451 | |
| 11/06 | 12/20 | 100 | 3171.78 | 3219.35 | 0.0310 | 0.3761 | |
| 12/06 | 13/20 | 100 | 3191.90 | 3239.78 | 0.0308 | 0.4069 | |
| 13/06 | 14/20 | 100 | 3216.27 | 3264.51 | 0.0306 | 0.4375 | |
| 14/06 | 15/20 | 100 | 3226.86 | 3275.27 | 0.0305 | 0.4680 | |
| 15/06 | 16/20 | 100 | 3230.04 | 3278.49 | 0.0305 | 0.4985 | |
| 18/06 | 17/20 | 100 | 3223.69 | 3272.04 | 0.0305 | 0.5290 | |
| 19/06 | 18/20 | 100 | 3256.53 | 3305.37 | 0.0302 | 0.5592 | |
| 20/06 | 19/20 | 100 | 3243.81 | 3292.47 | 0.0303 | 0.5895 | |
| 21/06 | 20/20 | 100 | 3202.51 | 3250.54 | 0.0307 | 0.6202 | |
One can check that when their is deep in prices ,more amount of Gold is purchased & vice versa when prices are at higher level.
This plan offer more advantage in the cases of correction in Gold prices.
Our Take on Reliance My Gold Plan:
First important thing is that you are investing in Physical Gold not in paper format.So output of Gold will be in the form of Gold Coin / Jewellery. Physical Gold is considered as illiquid asset [though we can mortgage it].
Just remember that where there is volatility ,systematic investment is always useful.We can not call recurring deposits as systematic investment as its a linear straight line.Whether Equity or Commodities both always revolve in the cyclic phases-Bullish & bearish.So suppose even if Gold went multi year bearish mood from now,I believe that it will follow bullish phase thereafter. So if you have chosen to invest, you should be enough consistent in investing.
Finally , IDBI Trusteeship Services limited are Trustees of this plan & completely filled applications alongwith the required documents can be submitted at offices of CAMS.
Also View: Details Of Reliance My Gold Plan
Disclaimer – Blog author is distributor of Reliance My Gold Plan.
