Which is more profitable, investing in gold or saving money in the bank?

[Suba]

I often see grandma buying gold jewelry and keeping it for a long time and she will sell it when she needs money. but I never saw grandma go to the bank to withdraw money or save. Currently we can not only buy gold jewelry and gold bars but we can also save digital gold and there are many trusted and registered digital gold investment platforms, there are even government platforms, which can be started with just $1, the process is like buying crypto on a crypto exchange . Gold does not provide interest like saving money in a bank, but gold can create capital gains and act as a hedge. So in your opinion, which is more profitable investing in gold or saving money in the bank?

 

[eLdavis]

Investing in gold or other things like stocks and the likes would definitely generate more money for you than when you simply save it. Though you also need to be aware of the risks involved.

 

[Suba]

Investing in gold and stocks is very different in terms of the risks involved, stocks are too volatile and the risk is very high, especially if you invest in tier 3 stocks, while gold has low risk.

 

[SHAHID987]

Investing in gold is much more profitable as compare to saving money in bank. We purchased gold of 5000 Rs 10 gram, back of 25 years now it is of 210000 Rs.
41 times it's price increased.

 

[Suba]

Investing in gold is much more profitable as compare to saving money in bank. We purchased gold of 5000 Rs 10 gram, back of 25 years now it is of 210000 Rs.
41 times it's price increased.

I agree with your opinion, investing in gold will be more profitable than saving money in the bank, especially in the long term the price of gold will double while the value of the money we save will decrease.

 

[Moseschidera]

Both gold and bank savings have their advantages. Gold prices go up and down a lot so you can lose money if you sell when the price is low. Bank interest is nice but inflation decreases its real value over decades. Best is do both - save in the bank and buy some digital gold each month for diversification.

 

[King Belieal]

If you are talking about long term investments, it is better to do gold than put money in the bank. Gold appreciates slowly. We agree. But inflation would render that money in the bank completely useless.

 

[magnus2022]

Gold is better than ordinary savings in the bank. Gold rate hardly depreciates. Gold is the real money and can be exchange to whatever currency you want at any given time. Inflation can easily make your money in nank to depreciate. Investment in gold is one of the most secured investments.

 

[freelancermaria]

Investing in gold can be a wise decision as it has the potential to appreciate in value over time. While I have not personally invested in gold before, I believe it is a better option than the latter. In fact, it has been a safe place for investors, especially during times of economic uncertainty.

 

[Starmix]

There is good money in gold investment, however let's not also neglect the importance of savings because the money will always be safe there. Gold investing is safe too but it can't be denied many became millionaires because of gold investment.

 

[Augusta]

Putting money in the bank isn't profitable for me. I don't gain from my savings so investing in gold is better

 

[Nomad]

You should calculate the average growth of gold prices and the average interest rate you get on your savings, you should choose the option that looks best. In out country, you get up to 9 percent interest in saving, which makes saving in banks better than investing in gold.

 

[Kirubel]

I would say buying gold and holding it is more profitable than holding our money in the bank, especially with the inflation we are having now, so gold is the safest and most profitable investment plan for me. Even if I don't make a profit, I don't lose the money I invest.

 

[deucher]

I believe that gold is not an investment asset, but an asset that will definitely not bring you a loss. It is very cool to invest in gold because it will not lose its value and everyone will use it in the future, so it is still better

 

[Kross]

Why would I save money in the bank when I can have an annual appreciation of up to 15% with gold. Keeping money in the bank can't yield that much.

 

[Stardom22]

Within the two the saving of money on the bank account is the most surest way for accumulating of money. However investment has a lot of regrets due to the risks that comes with it.

 

[Suba]

According to Warren Buffett, saving a lot of money in the bank is a loss, especially if the inflation rate is greater than the bank's annual interest rate. So according to him, it would be better if someone invested in property, gold or stocks.

 

[Webster]

I often see grandma buying gold jewelry and keeping it for a long time and she will sell it when she needs money. but I never saw grandma go to the bank to withdraw money or save. Currently we can not only buy gold jewelry and gold bars but we can also save digital gold and there are many trusted and registered digital gold investment platforms, there are even government platforms, which can be started with just $1, the process is like buying crypto on a crypto exchange . Gold does not provide interest like saving money in a bank, but gold can create capital gains and act as a hedge. So in your opinion, which is more profitable investing in gold or saving money in the bank?

Investing in gold, easily a better option.
That said, you should have some cash socked away in a bank for the proverbial rainy day (because there are always rainy days in one's life).

 

[Suba]

Investing in gold, easily a better option.
That said, you should have some cash socked away in a bank for the proverbial rainy day (because there are always rainy days in one's life).

You are right, although investing in gold is better, we also have to have money in the bank for rainy days or other needs.

 

[Augusta]

The thing is that investing generally is the best bet. You can try it with gold or sny other thing