Anuja J, a 26-year-old Mumbai resident, started investing in a gold scheme offered by a leading jeweller in the city one and half years ago.
The investment was Rs 3000 a month. Her motive was to buy jewellery for her marriage.
After 18 months, Anuja's investment grew to Rs 60000 (including the jeweller's contribution), which she wanted to redeem.
However, Anuja wasn't happy with the money accumulated at the end of the tenure of her scheme. Reason: When she enrolled on April 29, 2011, the gold price was Rs 22145 for 10 gms, which shot up to Rs 30955 by October 31, 2012.
In other words, a piece of gold jewellery that would cost Rs 1 lakh then is now costing her Rs 140000. Hence, her scheme became unattractive when prices moved up.
Text: Yogini Joglekar, Business Standard