INVEST IN GOLD: TIPS ON BUYING AND INVESTING IN GOLD ONLINE

From the time of ancient civilizations to the modern era, gold has been one of the most precious metals, used as a gift or an investment option. It is the ultimate symbol of wealth and prosperity that makes an unbeatable impression when gifted to loved ones on special occasions as a heritage that lasts forever. Besides, the high liquidity and inflation-beating capacity make gold one of the most preferred investment options.

Table of Content

• Essential Tips for Buying Or Investing in Gold Online
• Conclusion

Though there are phases when the prices of gold witness a fall, it surely makes a b comeback, thereby making your investment in gold worthwhile. So, you have decided to buy gold online, either as a gift or for your investment portfolio but are not sure how to proceed? We are here to guide you through the process with the help of the following tips.

People interested in investing in gold can do it in many forms like buying jewellery, gold bars, etc. However, the allocation to gold should be as per their profile and investment objectives to get good returns. When talking of quality returns, there are certain factors that come into play while buying and investing in gold. Careful consideration of these factors ensures that your purchase will give you fruitful returns in the long run.

So, you have decided to buy gold online, either as a gift or for your investment portfolio but are not sure how to proceed? We are here to guide you through the process with the help of the following tips.

Essential Tips for Buying Or Investing in Gold Online

1. Check the Cost per Gram

The price of gold may vary with different sellers as they get it from different associations and further add their making charges, leading to a higher price. All you have to do is find out the current price of gold per gram. This can be easily done directly on Google or a trusted website. Further, if you are buying gold studded with semi-precious stones or diamonds, make sure that the value of gold in the piece is calculated minus the weight of the stones, as they have little to no resale value.

Being sure of the exact market price and value of gold gives you a sense of satisfaction that your purchase is worthwhile with zero unnecessary expenses.

Whether you wish to invest in gold or gift it to someone, ensuring its purity is of utmost importance to be able to get good returns. Gold is available in different levels of purity, each having the potential to significantly affect its market price.

There are two ways to measure the purity of gold ornaments- Karat and Fineness, Karat (KT) being the commonly used term. 24 KT is said to have 100% purity followed by 22 KT with 91.6% gold and a small part of other metals, and 18 KT with 75% gold and the rest is other metals.

This is also a fact that the level of impurity in gold ornaments increases with the level of intricacy in its design.

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2. Seek Genuine Certification

The role of certification while buying and investing in physical gold, be it gold bars or jewellery, is to ensure a genuine purchase. Genuine here means proof of its weight and purity, further ensuring its good resale value, especially when purchased online.

Most jewellery stores, banks and other financial institutions selling gold ornaments online provide their customers with a certificate of authenticity. This certificate is issued by the Bureau of Indian Standards (BIS) as a Hallmark, eliminating the risk of fraud when buying gold in any form. The Hallmark is either stamped on the ornaments or printed on a paper that comes along with it.

3. Keep a Note of Additional Charges

The price of gold jewellery is not always straightforward as sellers include making charges accompanied by other additional charges to earn more profit. Similar to the purity, making charges and other additional charges are affected by the intricate design of the gold ornaments, leading to unnecessary expenses that are not borne by the purchaser when you plan to sell the ornaments in future.

4. Read the Buyback Terms

Buying and investing in gold online comes with the risk of low buy-back opportunities. While you will always have the option to sell it in the market, giving it back to the seller comes with a whole lot of ease and convenience. Further, some sellers also offer gold loan schemes where one can simply avail a loan in exchange for the gold ornaments, which are kept with the seller as a guarantee. The same is returned to the borrower once the entire loan amount is repaid to the lender during the set loan tenure.

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Conclusion

Hence, always ensure to check such schemes while buying and investing in gold online to ensure zero losses and quality returns.

Keeping the above checklist handy while investing in gold online will help you keep away the risk of loss and get yourself a good investment deal.