Diamonds are more valuable than gold. You need to invest more, to own diamonds. But Indian Commodities Exchange (ICEX) has created an opportunity for customers to invest just Rs. 900 per month and own diamonds. Let us see the details of this scheme.
Majority people in the country buy gold. Diamonds are purchased mostly by rich class people. This is because of the high price of diamonds. But ICEX says that valuable diamonds can be purchased from its platform. Recently Securities and Exchange Board of India (SEBI) has given permission to ICEX to begin trading in diamonds. This is the first commodities exchange in the world that is trading in diamonds. Also, there never has been a case of inviting Systematic Investment Plan (SIP) on diamonds, until now. Which means that ICEX is giving an opportunity to those who want to own diamonds and those who want to invest in diamonds. ICEX was introduced SIP in diamonds by the end of September.
How to buy
At present, SIP investments are made in mutual funds or gold. But in diamonds it is unheard of says ICEX. Those who wish to buy diamonds or invest in them, should open an account with ICEX broker and complete the 'know your customer,' details. If you want to invest in SIP, you should tell the broker of a convenient date and deposit the money every month, on that date. The broker will then place the purchase order online.
It is natural to doubt as to what you would get for Rs. 900. If you keep investing Rs. 900 per month for two-and-a-half-years, it will amount to Rs. 27,000. 30 cents, 50 cents, 100 cents (one karat)...ICEX has started trading on these three sizes of diamonds. Diamonds trade in ICEX is similar to trade of shares in stock market. You can buy diamonds from a minimum of one cent. It will be credited in your demat account. After collecting at least 30 cents, you can you can take delivery of diamonds in physical form. ICEX has announced that these are natural diamonds and their genuinity, value, cut, polish and other factors will be certified by De Beers company and you will get that certificate. It stated that its main aim was to make most valuable diamonds available for common man.
Present value of diamonds is Rs. 27,000 for 30 cents. That is why ICEX has planned it in such a manner that a minimum of 30 cents diamonds can be bought, with just Rs. 900 per month, within two-and-a-half years. Even if you do not continue in SIP, you can invest for a few months, and then sell of the diamonds in demat form, to ICEX. Or you can stop SIP and start it again when convenient.
Copyright © 2019; www.ap7am.com