Akshaya Tritiya 2018: Tips to buy gold during this festival

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Purchasing something as precious as gold is an investment in itself, so don't forget to judge its purity and compare your discounts, especially during the occasion of Akshaya Tritiya which is considered as one of the most auspicious days to buy gold in India, suggested experts.

Prakshi Sharma, Creative Head and Designer, Prakshi Fine Jewellery, and Chitwn D Malhotra, Lead Designer and Founder at Dillano Luxurious Jewels Pvt Ltd, have listed the smart way to invest in gold. 

Check for purity: When buying gold jewellery, it is necessary to check for its purity as it determines its true worth. The Bureau of Indian Standards (BIS) is the authorised agency that hallmarks gold jewellery, and ascertains its purity. Every hallmarked jewellery will have a number attached to it, a BIS stamp, its karats, hallmarking year (represented alphabetically), jeweller's identification mark, and the assay centre.

Before buying any gold jewellery remember to check the hallmark.

Look for discounts on making charges. To celebrate the occasion and attract customers, several jewellery brands give huge discounts on making charges for a stipulated period. There are many such offers available, so make sure you check them all out.

Compare the prices. Price of any piece of gold jewellery varies from one store to another. Before buying, take a quick survey of the prevalent market prices, consider the differing making charges and the discounts provided on them, and make an informed decision.

Buying gold jewellery is generally considered a safe investment, but a prudent choice must be made on what to buy and what to avoid. It is advisable that you buy something that will give you optimum returns in the future. 

Opt for gold coins or biscuits instead. If you're looking at buying gold purely as an investment, then opting for gold coins or biscuits might be a better idea.

Avoiding stone jewellery. Studded ornaments are generally priced higher than a regular gold piece, and while precious stones do add to the beauty of jewellery, they lower the value of an ornament. They incur high making charges but when they are exchanged or sold, the stones are taken out to determine the value of the gold. 

Chances are high that you will get an exchange value only of the gold, even if the stone is precious.

(With IANS Inputs)