Now, own a diamond for just Rs 900 a month. For most people, it is like dreaming to buy a diamond, but now this dream can be easily accomplished. And that too only 900 rupees per month invested on. This opportunity is being given by Indian Commodity Exchange (ICEX). ICEX is soon going to launch a systematic investment plan (SIP) for retail buyers. Through this, you will reach 30 Cent Diamond in just 30 months.Diamond SIP is India’s innovation: Diamond SIP is not in the world, it is launching itself in India. Under the Diamond SIP scheme, the buyer has to open a trading account with the broker of the ICEX. After this, the broker has to deposit some money. Also, it will be required to tell which broker will buy every month of the diamond (in electronic form).
Diamond trading will be done in three different sizes: ICEX is going to start trading diamonds of three different sizes – 30 cents, 50 cents and 100 cents (i.e., a carat). Similar to the stock market, the trading of diamond contracts will also be in the demat form. The buyer can convert the diamond into a physical form only when its weight will be at least 30 cents in its demat account. Similar SIP Scheme will be available for 50 cents or 1-carat diamond.
This is a formula for buying Diamond at Rs 900: At present, the price of 30 cents diamonds is around Rs 27,000, under SIP, the customer can deposit about 900 rupees per 1 cents a month. When the price is equal to 30 cents, the customer can take it. But for this, it has to continuously sip for 30 months. Likewise, for 50 Cent diamond, we have to sip 100 months and 100 months diamond for 100 months.
Never sold and purchased to diamonds: The officer of the ICEX made it clear that if the investor can not deposit money in Diamond SIP after a few months, then the amount of SIP he has given, according to him, Will remain in the account. Now, when he wants it, he can start shopping again.The buyer can sell diamonds to the deposits in their account whenever ICEX. According to the market price of that time, it will get the price. ICEX, which will deliver the diamond, will also guarantee the purity of those diamonds and a certificate of purity.
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