Akshaya Tritiya, one of India’s most auspicious festivals for wealth and prosperity, will be celebrated on April 30, 2025. On this sacred day, people across the country flock to jewelry stores to buy gold, a symbol of good fortune and abundance in Indian tradition. But before you rush to purchase gold, there are a few important things you should know to make a wise and safe investment.
Here are eight essential tips that can help you make a smart decision while purchasing gold on Akshaya Tritiya and ensure that you’re not falling prey to fraud or hidden costs.
The most important step is to check the purity of the gold you're buying. Always opt for 24K, 22K, or 18K gold, depending on your requirement. Make sure the gold is BIS hallmarked, which certifies that the gold is genuine and meets quality standards set by the Bureau of Indian Standards.
What you see as the gold rate per gram is only part of the cost. Jewelers add making charges, GST (3%), and hallmarking fees, which can significantly increase the final price of the jewelry. Always ask for a detailed price breakdown to avoid surprises.
Making charges vary widely between jewelers and can range from 10% to 20% of the total cost, depending on the complexity of the design. Compare these charges across multiple stores to get the best value for your money.
Gold prices fluctuate daily due to market trends. Before heading out to buy gold, check the current market rate online or at a trusted jewelry store. This will ensure you’re paying a fair price and not being overcharged.
Always buy gold from reputed and certified jewelry stores. If you're shopping online, choose platforms known for secure transactions and customer trust. Avoid lesser-known sellers, as they may mislead you with substandard products or fake gold.
Never purchase gold without an official bill. The invoice should clearly mention the gold weight, purity, making charges, taxes, and final amount. This is crucial for future resale, exchange, or in case of any dispute.
If you're buying gold as an investment, consider opting for gold coins or bars instead of jewelry. They come with lower or no making charges and are easier to store and sell. Also, explore Digital Gold, Gold ETFs, or Sovereign Gold Bonds for long-term investment.
Gold prices are influenced by global markets, interest rates, and currency fluctuations. If prices are at a peak, it may be wise to wait for a correction. Always keep an eye on the broader market sentiment before making large purchases.
Buying gold on Akshaya Tritiya is more than a ritual—it's a financial decision. Without proper research and precautions, you may end up overpaying or falling for scams. By following these eight smart tips, you can make sure your gold purchase is both auspicious and financially sound.
Final Word:
Celebrate the spirit of Akshaya Tritiya with confidence and caution. Let your gold bring not just tradition, but also lasting value.
