Dhanteras 2024: Things To Keep In Mind Before Buying Gold

Celebrating Dhanteras with the purchase of gold is a cherished tradition for many. By keeping these tips in mind, you can ensure a wise and secure investment, bringing prosperity and joy to your home. Happy Dhanteras 2024!

 

Price Fluctuations: Gold prices fluctuate based on various factors, including global economic conditions, currency exchange rates, and market demand. It’s essential to monitor gold prices regularly leading up to Dhanteras to get the best deal.

Historical Prices: Reviewing the historical prices of gold can provide insight into potential future trends and help you make a more informed decision.

 

Hallmark Certification: Ensure the gold you purchase has a hallmark certification, which verifies the purity and authenticity of the metal. In India, the Bureau of Indian Standards (BIS) hallmark is a trusted certification.

Purity Levels: Gold purity is measured in karats, with 24 karats being the purest form. Commonly available gold jewelry is 22k or 18k, which is mixed with other metals to enhance durability.

 

Trusted Jewelers: Purchase gold from well-known and reputable jewelers to ensure quality and authenticity. Established jewelers are more likely to provide genuine products and proper certification.

Online vs. Offline: While online purchases can be convenient, ensure that the online retailer is reputable and offers secure transactions. Check reviews and ratings before making a purchase.

 

Making Charges: Jewelers often add making charges for crafting the gold into jewelry. These charges can vary significantly between sellers. It’s wise to compare making charges from different jewelers to get the best deal.

Negotiation: Don’t hesitate to negotiate the making charges, especially if you are buying in bulk or from a trusted jeweler you have a relationship with.

 

Purpose of Purchase: Decide whether you are buying gold for investment purposes or as ornamental jewelry. For investment, gold coins and bars are preferable due to their higher purity and lower making charges.

Resale Value: If you plan to resell the gold in the future, consider the resale value and liquidity. Plain gold jewelry and coins typically have better resale value compared to heavily designed pieces.

 

Festive Offers: Many jewelers offer discounts and festive deals during Dhanteras. Keep an eye out for promotions that can provide additional value.

Cashback and Rewards: Some banks and payment platforms offer cashback and rewards for purchases made during festive seasons. Utilize these offers to save money.

 

Set a Budget: Gold is a significant investment, and it’s essential to set a budget beforehand. Stick to your budget to avoid financial strain.

Avoid Impulsive Buying: Festive excitement can lead to impulsive purchases. Plan your purchase and avoid buying more than what you need or can afford.

 

Proper Documentation: Ensure you receive proper documentation, including a detailed invoice that specifies the weight, purity, making charges, and hallmark certification.

Warranty and Buyback Policy: Check if the jeweler offers a warranty and a favorable buyback policy. This can be beneficial if you decide to sell or exchange the gold in the future.