Are you planning to buy gold this Dhanteras? It is that time of the year when people flock to buy gold
It is that time of the year when people flock to buy gold. Dhanteras, an amalgamation of Sanskrit words dhan, that stands for wealth, and teras that refers to the 13th day of the Hindu calendar, is marked by praying to goddess Lakshmi and the purchase of gold objects.
This year's Dhanteras comes after the government changed a key rule governing gold buying. As part of the push to revive consumer sentiment in the economy, the government recently allowed people to buy Rs 2 lakh worth of gold without quoting the permanent account number.
Here's what you must keep in mind while buying gold
Rule number 1: First and foremost, jewellers say, those who want to buy jewellery would have to set aside 60-70 per cent of their monthly salary for this purpose.
The current price of gold ranges from Rs 29, 675 (Friday) to Rs 29,970 (Monday). Last Dhanteras, the price of gold was around Rs 30,000.
*Buy gold with BIS Hallmarking which guarantees its purity. Buy the metal with certification of 22-carat purity
*Scout the market for the best price deal. Discount offers available should make your purchase price attractive
*If you are buying from a jeweller, you should purchase a reputed outlet, with good track-record and credibility
*Always insist on a bill. Without a bill, you will have trouble in case you want to exchange the precious metal later.
*Buy gold for the long term. Gold prices are exposed to global events and might face volatility in the short term
Click here to see the offers on Gold → Dhanteras 2017
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