India, Oct. 17 -- Gold holds a unique place in Indian households-both as a cultural symbol and as a hedge against uncertainty. With Diwali and Dhanteras around the corner, many will look to buy gold for ritual or gifting.

But with gold prices at record highs- Rs.1.2-1.3 lakh for 10 gm of 24K gold-wholesale premiums, making charges, and volatility are bigger risks now than in ordinary times.

So, instead of buying blindly, think like an investor. Here are five ways to approach gold in a strategic, diversified way this festival-combining tradition, convenience, and prudence.

Advantages: The biggest advantage of owning gold as bars or coins is that you can "see and hold" the asset. Liquidity is high-you can sell to jewellers or bullion dea...