A reader asks,
I need to purchase gold ornaments for a family event that’s about twelve to fifteen months away. What’s the best way to go about saving for this goal? I can set aside a certain amount each month from my salary.
The question had me stumped since I’ve never saved/invested specifically with the goal of buying gold ornaments. I have heard of gold purchase plans (such as this) offered by leading jewelers but I’m not sure how good or how safe they are. But the scheme does look good on paper.
Posing this question to you. What would you suggest?