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Where To Buy Gold In India?

Gold is a treasured metal in the Indian subcontinent. Indians have been buying and stacking gold for centuries, from weddings to anniversaries to birthdays. In Indian culture, gold is regarded as a symbol of prosperity, purity, and stability.

 

Considering the rising price of this precious metal, many individuals now consider gold an ideal investment option too. While bullion traders are considered an ideal place for buying gold in India, you can also purchase this metal from jewellers and banks. 

 

Mentioned below are a few options which are the best places to buy gold in India:

1. Online Purchase through Banks

Gold purchase from bank is one of the ways to get hold of this precious metal in India. One of the many benefits of purchasing gold from banks is that they offer discounts on bulk purchases. In addition, they offer gold coins of the highest purity, that is 24 carats. In addition, tamper-proof packaging ensures that your gold remains safe and secure. Moreover, since you purchase gold from banks, it serves as a certificate of authenticity.

However, you should note that the gold banks sell does not come with a buyback policy. Additionally, rates for gold offered by banks are often on the higher side.

2. Wholesaler

Gold wholesale purchasing differs from that of any other commodity. Because of the price and utility of gold in the economy, wholesale purchases are not permitted. Large quantities of gold, on the other hand, can be obtained at comparatively lower prices by trading in gold trading markets. These markets have a large supply of gold in various sizes and weights. This includes both bars and coins. Gold merchants and jewellery store owners typically purchase large quantities of gold from the gold trading market.

3. Retailers

The most common method of buying gold in India is through retail purchases. Customers can do this by visiting any jewellery showroom and selecting the gold item of their choice. This includes both jewellery and gold coins and bars. Another way to buy gold in bulk is to buy from sellers who need to sell their gold due to a financial emergency. You can purchase gold in two forms: gold coins or bars and finished gold jewellery. Gold jewellery is more expensive than pure gold because the cost of production comes in with the price.

4. Jewellery Website

In recent times, many jewellery manufacturers have launched dedicated websites to sell gold ornaments. These transactions are carried out in the same manner as standard online transactions, with purchased products delivered to your door. However, when buying gold online, consider assessing the website’s authenticity. You should always go for jewellers who are well-established in the business and feature the required certification.

 

Now that you know how to buy gold in India, you must incorporate some healthy buying habits. These include checking the metal's authenticity beforehand and devising a clear budget plan. Additionally, since there are various platforms for buying gold in India, you should consider choosing one that best suits your preferences.

Frequently asked questions

  • ✔️Is it safe to buy gold online in India?

    Yes, it is safe to buy gold online in India if you follow a few safe practices. For instance, you must always do your research regarding the seller beforehand. It is important to make purchase through reputed websites. You should also look for the purity of the metal and assess whether it carries a hallmark or not. Finally, do not forget to check a website's return policy before making a decision.

  • ✔️Which site is best for buying gold online?

    In recent times, various jewellers have come up with their websites to sell gold online. However, the best site for purchasing gold would be the most transparent one. Having said that, the website you choose must disburse all needed information at one glance. It should have a solid customer support, which can address your issues whenever needed. Moreover, it should provide information related to its certifications. This will help you make sure whether the website is authentic or not.

  • ✔️Which city's gold is the best quality?

    Gold prices vary from city to city in India. This is because of the different tax implications that various states levy on the sale of gold. That said, gold price tends to change twice daily, which you should keep an eye on. You can check the price of gold in different cities before making a purchase. However, remember to purchase this precious metal from an authentic jeweller, irrespective of the city of purchase. This will help you make a cheap and informed buying decision.