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Four things you must consider before buying gold on Akshaya Tritiya
Posted on: 07/May/2019 11:45:16 AM
1. Check the Bureau of Indian Standards (BIS) to ascertain the worth of gold. This will give the details of the quality and the carat of the jewellery item bought. This will ensure that fake/counterfeit jewellery items are not bought.
2. It is customary for the jewellery brands to keep their making charges high to earn more. So, attempt bargaining on the making charges if not on gold! Ensure you obtain the best discount being offered on the jewellery`s making charges.
3. Opt for gold coins instead of buying gold biscuits as gold coins are usually considered better as investment options.
4. Avoid buying gold ornaments that have precious stones studded on them. It might make the jewellery look good, but will drop its worth incredibly.
Another important aspect: If you are planning to buy gold on Akshay Tritiya then apart from holding it in physical form, you can bet on gold in the paper form as well. One way to do it is through mutual funds. The gold mutual funds are mainly in two forms gold ETFs and gold saving funds. Ensure to know that both gold ETFs and gold saving funds have cost implications as the former comes with expense ratio, demat charges and brokerage to be payable on transactions whereas the latter comes with elevated expense ratios.
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