Given the volatile nature of the global gold market, will it be advisable to make a long term investment in gold? This is a tricky question. However, Satyug Gold, a company promoted by celebrity entrepreneurs Raj Kundra and wife Shilpa Shetty is offering discounts of up to 37 per cent on the purchase of gold bars and coins for those who are keen to pay the entire amount in advance and wait for 2 to 5 years to take delivery. Under the programme, customers who are interested in buying gold are required to pay 85 per cent of the current market price for taking delivery 2 years later, 76 per cent for 3 years, 70 per cent for 4 years and 63 per cent for 5 years. However, the scheme is learnt to have caught an attention of the SEBI officials, says a report. As reported in the media, the offer is similar to collective investment schemes (CIS) that require prior regulatory approval. Even one rupee collected from investors with a promise to deliver a commodity at a later date is termed as a forward contract in the commodity market. An official connected with Indian Bullion and Jewellers Association, on condition of anonymity said, "Satyug is an excellent and systematic investment plan. When a customer is investing in Satyug scheme, they are completely aware of the volatility of the gold market. In case, there are any regulatory hurdles as reported in the media, Satyug can take care of it." We even tried to contact SEBI officials but they remained available for comment at the time of filing the story. So is it the time of troubles ahead for Satyug Gold, we would soon know.