Dhanteras 2018: Where can you buy the best gold in India? Good news! Yellow metal cheaper today

Dhanteras 2018: Today is the big gold buying day as it is considered very auspicious. Yes, it is Dhanteras and people would have by now not just prepared but also done their buying while the laggards may well be on the way to do so. While gold is the most preferred, in case the same is not preferable or affordable, the option is to buy any other form of metal. 

However, those who are set on buying the shiny metal should know that the price of gold has actually come down today on this festive occasion! This will surely add wings to their efforts to grab a piece of gold for themselves.

In Mumbai, a 22 karat gold in 100 gram was available at Rs 3,11,000 down by Rs 1,000 compared to previous Rs 3,12,000. Then the 10 gram in the same karat was down by Rs 100 and priced at Rs 31,100. Whereas, in lower 8 gram and 1 gram, the 22 karat gold was priced at  Rs 24,880 and  Rs 3,110 below Rs 80 and Rs 10 respectively. 

Meanwhile, in the Maharashtra's capital, the 24 karat gold was priced at Rs 3,21,600 in 100 gram down by Rs 900 compared to previous price, followed by 10 gram at Rs 32,160 below Rs 90, 8 gram at Rs 25,728 down by Rs 72 and 1 gram at Rs 3,216 lower by Rs 9. 

Silver prices had also tumbled in Mumbai, with 1 kg of this metal available at Rs 41,250 down by Rs 200, 100 gram at Rs 4,125 down by Rs 20, 10 gram at Rs 412.50 down by Rs 2, 8 gram at Rs 330 down by Rs 1.60 and 1 gram at Rs 41.25 down by Rs 0.20. 

However, the best deal on gold is key and there are many ways of buying this yellow metal. If you are confused on buying the best gold and accurate weightage in India, here's how you can find the most popular establishments. 

Purchasing gold online via banks 

You can purchase pure gold in 24 karat on various online channel via banks. This eliminates the trouble of having extensive cash in hand. 

Many banks offer their customers an option to procure online. All a customer has to do is login onto their official banking account, place the order for buying gold and can visit the nearest bank branch for obtaining the gold coin. 

Many banks offer gold coins in in several denominations ranging from 0.5 gram to 100 grams. Hence, they can be purchased strictly in-line with purchasing power of an individual. This coin is best for those who cannot afford to overspend.

You also need not worry about the accuracy of the gold, as this yellow metal purchased online is also delivered in a tamper-proof package along with certi-card that guarantees purity.

Buying gold wholesale 

This one is generally different if compared with other format of buying gold for instance like visiting a nearby jewelry shop and paying for the gold you like. However, the wholesale pattern of buying gold is not much allowed, but can be purchased in heavy quantities at a comparatively lower price than what is being charged in the markets. 

Under this method, large quantities of gold can be purchased in different size and weights. Almost everything right from a gold ring to gold coins and gold bars, they all can be bought in bulk under wholesale market. 

Such is mostly practiced by gold merchants and jewelry shop owners who make bulk purchases of gold in wholesale at lower range and charge you with local market prices. 

Buying gold in retail

This one is the most used method to purchase gold. In this, customers can visit any nearby jewelry showroom and select the gold they like of their choice. 

Retail purchase can be  gold coins or bars and finished jewelry. Generally, the finished jewelry costs you more than the other forms of gold because it involves a host of charges that are added in the price. 

Purchasing gold via jewelry websites

This one is growing rapidly, however, for most Indian citizens, there are doubts over whether they should opt for this method. There is some sort of trust when a gold is held in hand while making a purchase and that is what people here prefer. 

But did you know that, there are jewelry websites that give you gold with exactly same standard hallmark that offline retailers give? They are purchased via a standard online transactions and are delivered at your doorsteps. 

Few example, these websites include bluestone.com, caratlane.com etc.

Gold ETFs
 
From an investment perspective Gold ETFs should be preferred to physical gold. The underlying asset of all the Gold ETFs is gold of 99.5% purity, thus the performance of most of the ETFs is quite similar.

The minor difference in their performance is on account of tracking error (difference between ETF’s returns and gold’s returns) and expense ratio.

Gold ETFs are easy to hold as they are in a dematerialized form. This helps in saving on the storage cost and avoid security risk. Also, their pricing is transparent and are more liquid as they are listed on the exchange and their purity is guaranteed by the asset management company.

Hence, if you are planning to buy gold and want to make a choice it is advisable to know the above mentioned factors and then make the purchase.