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Akshaya Tritiya 2016: How to fetch the best deal in gold buying

Mon May 09 2016, 5:31 pm
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    On the auspicious ocassion of Akshaya Tritiya, are you planning to buy gold? There are various discount schemes doing the rounds, but which jeweller should you trust, what should you look for to be sure that the yellow metal is of the purity you are looking for and most of all, should you even be lured by the offers, are some of the questions we answer here to ensure you get a good deal and don’t land in trouble when and if you want to eventually, sell the precious metal. We spoke to leading jewellers across the country to find out what they suggest to customers who might be wanting to buy. Among the suggestions is to go to reputed jewellers to be sure of purity of the product and to check the BIS hallmarking. Here are some of the top tips for purchase of gold from the jewellery community themselves:

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    Akshaya Tritiya: Saurabh Gadgill, CMD, PNG Jewellers and Vice-President, Indian Bullion and Jewellers’ Association advises those who purchase bullion for investment to take a long-term view. “I would advise those who purchase bullion not to invest more than 10-15 per cent of the portfolio in the metal. Also do not look for short-term gains but be a long-term investor. FOR BUYING BULLION: 1. If you are buying bullion as investment do not invest more than 10-15 per cent of your portfolio; 2. Do not speculate on price movement; 3. Have a long term view on your investment. Investing for short-term gains might make you unhappy.
    FOR BUYING JEWELLERY: 1. There are a lot of promotional schemes doing the round. Take advantage and strike the best deal after comparing; 2. Check whether you are getting the jewellery at a good price. It should be lower than normally available because of the discounts.
    Read | Akshaya Tritiya: Why this is the right time to buy gold

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    Akshaya Tritiya: Ishu Datwani, founder, Anmol Jewellers, stores in Mumbai and Delhi, advises to buy only hallmarked jewellery to be sure of quality and for exchange and upgrade. 1. Buy something that you will wear or use and not to keep in the locker; 2. Buy only hallmarked gold; 3. If gold is of the desired 22 carat purity it will be easier to exchange or upgrade the product at a later stage. (Reuters)
    Read | Akshaya Tritiya: Jewellers to remain open late night to meet demand

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    Akshaya Tritiya: Satish Chand Singhvi, President, Delhi Jewellers’ Association has this advise for you - 1. Purchase gold only from a reputed shop; 2. Check credibility of the jeweller; 3. Do not go by the jeweller’s assertion, look for hallmarking. (Reuters)

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    Akshaya Tritiya: Krishan Alreja, Regional Manager – North, All India Gem and Jewellery Trade Federation - 1. Buy from good reputed showroom; 2. Insist on a bill along with the purchase; 3. Absence of bill may make it difficult to exchange; 4. But only BIS hallmarked gold with certiciation of 22 carat purity.(Reuters)

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