What To Buy When You Want To Invest In Gold In India?
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Indians have since times immemorial had a deep fascination for gold, attaching a sentimental value to it. Indians invest in gold in different forms such as jewellery, gold coins, ETF, gold bonds, and so on. Investing in gold is a continuous process for Indians, which peaks around Diwali due to auspicious gold-buying days.
However, as someone interested in buying gold for marriages, daily wear, or investment purpose, it is important to keep track of the rates as Gold Rate in India keeps changing every day. Keeping an eye on the fluctuations will help you understand the best time to buy during the year, as you will be able to identify when the rates are at a comparative low.
What Makes Gold Attractive to Indians?
There are several reasons that contribute towards making gold a sought after metal in India. Some of these are:
-Gold is associated with the status symbol in India. Heavier gold ornaments are preferred over lighter ones even while gifting.
-Gold is associated with purity, and hence people prefer to buy purer gold such as 24-carat, 23-carat gold, or 22-carat gold as compared to buying 18-carat or 14-carat gold.
-Gold is cheaper than diamond and there are numerous reliable pure gold sellers in India. It is easily accessible in the Indian markets.
-While gold ornaments are the best buy for marriages and everyday wear, investors suggest investing in gold either in the form of gold coins, gold bars, or ETFs. In fact since physical gold comes with additional making charges, experts suggest buying gold in the form of bonds and ETF to avoid the same.
-The fact that gold in any form can be sold easily when there is a need for extra funds, makes the gold investment all the more lucrative.
-When sold, gold gets you returns at par with the prevailing market rates minus the making charges.
Looking at the frequency of gold buying and selling in India, it is important to check gold rates for the day.
What to Buy When You Want to Invest in Gold in India?
Here are some of the options that you can consider when you want to invest in gold in India and get good returns on your investment:
1. Jewellery
2. Bars and Gold Coins
3. Gold Mutual Funds
4. Gold ETF
5. Sovereign Gold Bond Scheme
Tips to Sell Gold in India
If you are looking to sell your gold eventually here are some handy tips to keep in mind:
-Always retain the invoices of your gold purchases. This lends authenticity to your gold and jewelers prefer to purchase such gold.
-Gold invoices will help you get maximum value for your gold as its original weight and rate would be mentioned on the invoice.
-Even if you have the invoice, you must still get your gold evaluated for purity and weight before selling it to avoid any discrepancies.
-Get your gold's hallmarking done before selling it. This is possible by first getting its purity tested. Once hallmarked your gold will sell easily with the stamp of authenticity.
-Always be aware of the day's gold rate to avoid being duped.
-Always sell your gold at a trusted jeweler who holds a reputation of offering fair rates in exchange of your gold.
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