Buy gold coins this festive season at up to 8% discount

Indian Banks and financial institutions are offering up to 8 percent discount on gold coin buys

Zee Media Bureau

New Delhi: If you are planning to buy gold, this festive season, go for the gold coins for a better deal. Banks and other financial institutions are offering the precious metal coins at up to 8 per cent lower prices than the prevailing market rates.

According to The Hindu BusinessLine report, the top private sector bank ICICI Bank is offering discount of 3-8 per cent on 24-carat gold coins of various denominations under its ‘Pure Gold’ offer for online purchases.

The report added, that a customer can visit the selected branch the same day to take delivery of the gold coin by producing a valid ID proof, he said, while adding that the delivery for gold booked online can be taken in 64 cities.

The World Gold Council has also partnered with India Post and Reliance Money is offering customers a special discount of 7 per cent on purchase of gold coins from India Post offices across India in the festive season.

Customers can purchase 99.9 per cent pure, Swiss manufactured 24-carat gold coins in different denominations from over 1,100 identified India Post outlets across the country at 7 per cent lower prices until December 2015.

State-run banks like Punjab National Bank and Oriental Bank of Commerce are also giving hefty rebates of 3-6 per cent on single physical purchase of a bunch of coins of any denomination by a single purchaser on a day.

Gold demand rises considerably during the festive season of Navratras, the pre-diwai period, Dhanteras and Diwali. However, this season the demand is slow due to sluggish rural demand.