Indians love the yellow metal. It serves two-way purposes, it is not only a safe investment option but a great fashion accessory. Gold Online in Chennai is the perfect accompaniment on occasions like weddings, birthdays, and religious festivals. The best part about gold is that it also offers an instant way to access funds to meet your financial requirements. Through Muthoot gold loan, you can secure up to 80% of your gold jewelry as a loan at interest rates as low as 12%. With affordable interest rates and flexible loan tenure, you can manage your finances without putting any burden on your monthly budget.
If you are searching for an online gold purchase in Chennai or anywhere else, it would be wise to consider certain factors before making a purchase. Not all gold dealers offer the same and fair price. So, if you pay heed to the below tips, you can save a significant amount of your money while buying Gold Online in Chennai:
Know the market price
Before purchasing gold jewellery online, you will have to find out the market price based on the weight and purity of the gold. It is worth pointing out that the gold prices vary in different cities and states. For example, the gold rate in Delhi is different than the gold rate in Chennai. The reason is that the gold prices are determined based on factors, such as state laws, hauling cost, import duties, inflation, etc.
So, while purchasing gold, you will need to conduct thorough research on gold jewellery prices and find a price that best serves your needs and preferences.
Opt for hallmarked gold
There has been a recent development in the hallmarking of gold. The government of India has made it compulsory for gold dealers to get their gold items hallmarked from the Bureau of Indian Standards (BIS). BIS hallmarking certifies the purity and fineness of gold jewellery. So, you will need to ensure that the gold items you are buying are hallmarked from a reputed assaying Gold Online in Chennai.
Keep in mind that a hallmarked gold contains the following information:
- BIS mark
- Purity in karat and fineness
- Assaying centre’s identification mark
- Jeweller’s identification mark
Find a reputed gold dealer
While looking for an online gold purchase in Chennai, you will have to ensure that you are not scammed. Since all gold dealers have resorted to online platforms to sell gold, scammers are targeting online gold buyers. These scammers can offer you rates that are too good to be true. Do not fall prey to such offers. Instead, you must ensure your gold dealer is a reputed one and has a reputation for offering fair market prices.
It would also be wise to look for online reviews and testimonials of their former customers. Those reviews offer great insight into their reputations and services. Finding the right gold dealer allows you to get the gold rate that you deserve.
Check the fine print
It is worth noting that some jewelers add making charges on the final gold jewellery they offer you. Since gold jewellery comes with an added cost of craftsmanship, you will have to incur an additional charge to the final selling price. While buying gold jewellery, make sure the making charges are not out of line. You can use an online price calculator to find out how much gold jewellery can cost you based on its actual weight and purity.
While making a gold jewellery purchase, your gold dealer may ask you to sign a document that contains the terms and conditions of the deal, making charges and other costs. You will need to carefully read the fine print before signing any document.
Know the buy-back policy
While buying gold, make sure that you are buying from someone that you can resell to in the future, when prices go up. You will need to check your gold dealer’s buy-back policy and check how much your gold jewelry can fetch at a later day if you wish to sell it Gold Online in Chennai.
While reselling it, you must know that your gold buyer accepts gold items at the current market price in your city. The wastage and workmanship cost will not be included in the final price. So, before making a gold purchase from a reputed gold dealer online, make sure to check if they will buy back your gold jewelry later when you plan to resell it.
With the gold rate being at its best, now is the right to buy gold. But, before buying gold from the market, it is advisable to pay heed to the above-mentioned tips to get the best market price.
Also, in the future, you can use your gold items to secure funding’s to meet your financial requirement without dipping into your savings. With Muthoot Gold Online in Chennai, you can avail yourself of affordable interest rates, higher loan amounts, flexible tenure, and online repayment options.