Dhanteras is an auspicious day before Diwali when gold investment is quite popular. It is essential to be cautious while buying it, and there are a few things in mind.
Diwali is quickly approaching. Dhanteras is an auspicious day before Diwali when gold investment is quite popular. It's that time of year when people want to purchase gold. The precious metal has already risen significantly this year, and customers are paying a premium for it. It is essential to be cautious while buying it, and there are a few things in mind.
Purchase hallmarked jewellery
Hallmarked jewellery is the safest type of jewellery to purchase. The Bureau of Indian Standards hallmark assures the purity of gold. We all know that gold comes in various purity levels, such as 18 karats and below, 22 karats, and 24 karats. You don't want to buy 22-carat jewellery that has a purity of fewer than 22 karats. It is preferable to purchase hallmarked jewellery to assure its purity.
Examine the weight
It's also a good idea to examine the weight of the gold, especially if there are any studded things, including diamonds. So be careful, as you may find yourself paying for gold that does not exist, and when you seek to resell it, just the weight of genuine gold is taken into consideration.
Check the gold price
It is quite difficult to forecast if gold prices will decline. As a result, if you plan to wait and buy, you cannot be sure that prices will fall. However, you might inquire with a few jewellers to see if a price reduction is possible.
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Check out offers on the making costs
When purchasing gold jewellery, it is critical to understand the manufacturing costs. It is significantly more essential to bargain and lowers the manufacturing expenses. Remember that these fees might account for up to 30% of your jewellery prices. You must request a discount here. While many jewellery retailers give a discount on making charges, it is best to double-check the offers and make charges before purchasing the jewellery.
Don't forget to request an invoice
An invoice is required for a variety of reasons. If you sell the same gold for a profit after a few years, you'll need to know the purchase price to determine your capital gains tax. Aside from that, the invoice will be helpful if a disagreement occurs shortly. Invoices are also required for your records.
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