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Key Factors to Keep in Mind When Buying Gold This Festive Season

New Delhi: It’s once again that time of the year and festive joy can be felt all around. In addition to the cheerfulness, most Indians look forward to purchasing items they have been keeping an eye on throughout the year. Considered to be a perfect time to make big-ticket purchases or start a new venture, the festive season comes with plenty of discounts on items. One of the most common purchases made by the public is jewellery.

Purchasing jewellery, especially gold, has been woven into our culture and is viewed as standard to purchase gold jewellery during the festive season. Be that as it may, with volatile costs and COVID-19 continuing with its invasion, there are some key factors to weigh in prior to buying gold this year, says Rupesh Jain, Founder and CEO of Candere, an online jewellery brand.

Go digital:- The days when individuals used to go to jewellery shops with their families to purchase gold are a distant memory. COVID-19 has resulted in the world moving towards digital and contactless purchases; purchasing gold is no exception. Buying or selling gold digitally has never been simpler and individuals are gravitating towards digital purchasing in the midst of the pandemic, Jain says. He added, “Since gold will always remain an asset to the purchaser, they needn’t be afraid to buy it during this time. Although, one should always check the price prior to purchasing to ensure that they are making a profit rather than paying more than they should.”

Check the hallmark:- When purchasing gold, a BIS (Bureau of Indian Standards) hallmark is the most important element. When buying gold jewellery, it is essential to look for 22K, 18K, and 14K gold as suggested by the BIS. Guaranteeing that the jewellery fulfils the stands set by the BIS won’t just permit you to purchase the best quality gold yet in addition let its resale value be unaffected by quality issues, Jain calls attention to.

Search for the best plans:- The world is experiencing challenging times and there might be some hesitancy encompassing the buying of gold because of factors, for example, viability, fluctuating costs, and so forth Accordingly, it is ideal to search for brands offering feasible plans, in this manner making buying gold simpler, he underlines. He added, “For example, plans such as the DGRP (Double Gold Rate Protection) ensure that customers can buy gold for the lowest price by freezing the rates and make the purchase later. Shopping online gives consumers the benefit of booking the rate of gold as per the booking date’s prices, benefitting them more, and allowing them sufficient time to purchase after booking.”

Purchasing gold will never get old as gold offers financial security besides being an accessory. Become a smart purchaser by following the straightforward steps mentioned above and make the most out of your purchase.

 

 

source: with input from ians