Diwali gold buying guide: What to check before you invest
Diwali is a festival of lights but what makes Diwali more prosperous? It is buying jewellery and other products. Here are top 8 ways you can do before investing on Diwali.
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<strong>What to buy</strong><br />First, one should confirm what to buy. If you are buying gold there are two things which need to be in practice: price and purity. Because of the surge in Gold prices, shopkeepers are charging extra than the actual price, then the person should be aware of the product likely to invest upon.
<strong>Set a budget</strong><br />Gold is said to be timeless, but your budget should not match this phrase. Allocate your budget and set your limit before visiting a store.
<strong>Understand units</strong><br />If you are likely to buy gold then, understanding karats should be your priority. 24k is said to be pure gold but soft, and 22k stands best for jewellery. If not gold then stay familiar with the product you are buying so that the shopkeeper does not trick you.
<strong>Checking hallmark</strong><br />BIS Hallmark is said to be a proof of purity and is certified by the Bureau of Indian Standards. It guarantees purity and fineness of precious metals.
<strong>Buy from reputed stores</strong><br />Buying any item from a trusted brand avoids scams and fake products. We should stick with well-known company or visit branded showroom.
<strong>Ask for invoice</strong><br />You should always take a detailed bill as it helps exchange, report or validate any future damage.
<strong>Consider Gold coins or bars for investment</strong><br />If you are investing, invest in such a thing which increases its value over time and is money-worthy. For pure investments, go for 24k coins or bars. They are easier to store or gift. Reuters
<strong>Buyback policy</strong><br />Buyback or exchange policy helps the customers to upgrade the product later, if they wish to and exchange the product for any defective piece.