Everything related to Gold: Chennai Gold
Tags: Gold, Gold Investment, Gold Investing, Gold Rate Today In India

How is the price of gold determined in Chennai?

In Chennai, the price of gold rises and falls due to many reasons. For example, the gold rate depends on the country’s interest rate, demand, and gold supply. If the supply of gold is high, and the demand is less, then the price of gold decreases significantly. Similarly, if demand is high and supply is less, there is an increase in the price.

Some government policies and tax rates like GST also make a difference in the price of gold. There may be a change in the price of gold due to the national tax tariff and the local government partner together.

Why is the price of gold in Chennai different from other cities?

The price of gold in Chennai is different from other cities due to its many reasons, such as internal and external reasons. Gold prices may vary from place to place in Chennai.

Because Chennai is a vast city, gold comes from different associations with different jewelers. The rate of gold at various locations in Chennai may vary.

Due to transportation tax and other taxes being levied on the buyer, the price of gold in Chennai may be more or less than other cities.

How much tax is levied on gold in Chennai?

There are two types of taxes on gold in Chennai in two ways:-

If you make jewelry, then it attracts 5% GST (Goods and Services Tax). Transportation charges are also charged with the partner. Many jewelers collect all these taxes by adding in making charges and take some separately. If you buy raw gold in Chennai, such as gold coins, gold bars, and baskets, it attracts 3% GST.

What are the main factors that affect the rate of gold?

Global Market Forces: — India comes third in the world in the import of gold. So, suppose there is an increase in the price of gold at the global level. In that case, automatic import charges will also increase, increasing gold prices in domestic gold markets.

Government Gold Reserves:- When the Central Bank of a country collects and stores more gold, the market’s gold rates also increase. Central Bank store more gold than foreign currency. Because gold is stable, and the prices of the currency of another country fluctuate.

The government of any country should have more gold reserves to do global trade transactions quickly. The price of gold is the same everywhere in the world. It depends on the purity of the gold and the country’s charges and taxes.

Demand of Gold: — Investors consider gold as a safe investment. Because during the Crisis, the market is closed so that no one can buy physical gold. The demand for gold in the market increases and the price of gold starts skyrocketing. By the way, one who has invested in Sovereign Gold can earn much profit by selling that bond.

And during the crisis, the government also needs gold for its reserves, which increases the price of gold in the market.

Inflation:- Whenever inflation increases, the price of money decreases, and the price of goods and services increases, so the price of gold increases. The supply of things gets reduced due to which the consumer spend more money on something. It meant that whenever there is inflation or a crisis, then the price of gold increases.

Interest Rate:- Whenever the bank reduces interest rates, more people take a loan from the bank for money. That is, consumers, get more money due to which they spend more money, and in the end, inflation increases. And consumers buy more things, which increases demand and price too.

Similarly, suppose the interest rate is high. In that case, there will be less money in the market, reducing the demand, which will reduce the Goods and Services Tax, and the gold price will fall.

Festivals:- Many festivals are celebrated in India. During Tehwaro, companies also need gold for electronics, and ordinary citizens buy gold in festivals, which increases the demand for gold and increases the price of gold.

How To Buy Gold Coins And Biscuits In Chennai?

Chennai is a massive city, and you will easily find many jewelers who give you gold coins in exchange for your gold. Or you can also buy 100% pure 24K gold coins. But there are many security issues when purchasing gold coins from local jewelers. Then you can also adopt another route.

In Chennai, some banks like SBI can also sell gold coins to you. The weight of those gold coins ranges from 2 to 50 grams. Because you are taking these coins from a government bank, the quality of gold coins will be 100% good. But to buy coins from the bank, you will have to pay an extra amount of premium.

If you talk about gold biscuits, you will have to buy it from a local Chennai jeweler because banks do not carry gold bars or biscuits nowadays. I have also told in this article that what you should take care of when buying gold. So you must read it while purchasing gold.

From Where To Buy Gold in Chennai?

There are many small and big jewelers in Chennai, but in my opinion, you should get gold from a good and famous jewelry shop. GRT, Prince Jewelry, Khazana Jewelry, Mehta Jewelry, Kalidas, Tanishq, Kirtilal are big players in Gold Market in Chennai.

You will easily find all the verities and many new and old design jewelry in all these famous stores at a reasonable price. You can find Gold Bars, Gold Biscuits in all these stores. But in Chennai, you can also buy gold bars or coins from many banks such as SBI.

What to keep in mind when buying gold?

Cross-check Weight of Gold:- The first thing that comes to gold is the weight of gold. Nowadays, some jewelers try many tricks to make their customers crazy so that the weight of gold can be shown more than the actual weight. If you are weighing jewelry gold, then you should observe it.

Price of Gold per Gram:- You should have 100% confidence in buying gold and know the correct market price of gold. Seeing the price of Jake gold on different websites is not right. You can check the price of gold by going to one of the trustworthy government websites.

Keep in mind that gold prices may vary in different cities and different showrooms because gold does not come from one place at all of them.

Certificate or Certification:- If you do not get the certificate of BIS (Bureau of Indian Standards) with the gold you are buying, then the deal is not valid. The quality of gold comes from the hallmark inscribed on it. So buy gold, take care of the hallmark.

Applied Charges:- Whenever someone buys gold, there are many taxes issued by the government on it. The jeweler never reports about the charges on gold. So it is your responsibility to ask him.

The most important thing is that the simpler your jewelry can be, the purer it is because the more gold intricate, the less refined it will be.

Checklist:- You should keep a list of every single thing above the next time you buy gold. Another thing you should keep in mind is to buy back terms. You will ask the jeweler how much money he will give back and how much will be charged if you come to sell the jewelry back to him.

How to ensure the quality of gold?

In today’s era, precious things like gold should be bought very carefully from the market. Issued by the Indian Governments, the Bureau of Indian Standards hallmarks gold.

BIS (Bureau of Indian standards) Mark

It is essential to have BIS’s hallmark on gold sold in the market, such as jewelry, gold coins, and gold biscuits. This hallmark proves that the gold you have purchased has been confirmed by a BIS laboratory that quality of the gold.

Many Surrey jewelers do not offer the BIS mark jewel on an everyday basis. But if you want to get a reasonable resale price on your gold, then you should buy a jewel with a BIS hallmark.

But if the jeweler does not give you the hallmarked gold even if you ask for it, then do not buy gold from him because it is mandatory for every jeweler to hallmark the gold by January 21.

The purity of gold and its quality can be known from 2 times. Generally, people only know about Karats, but gold purity can also be measured based on gold fineness numbers.

What is Karats

Karats is a well-known unit for measuring the quality and purity of gold. You cannot find 24 Karats gold ornaments in the market because it is very soft and quickly suppressed. For this reason, alloys such as zinc are added to it to make jewelry.

The quality and purity of gold can be divided into three forms based on Karats. 24 Karats, 22 Karats, and 18 Karats Gold. Gold purity can also be mapped based on fineness number.

What is the fineness number

Fineness is the second measure to measure the purity of gold after Karats. It can be measured by how many impressions are there in every 1000 parts. If the purest gold is 24 Karats gold, then the Fineness number will be 99.99% (24/24).

But even 24 Karats gold is not 100% complete, and even some impurities remain in it. That is, you can say the fineness number of 24 Karats gold is 99.99%.

Based on the BIS website, gold hallmarking is done in 3 quality level gold.

Assaying and hallmarking laboratory logo/number

Thus, no laboratory can prove the gold used in the jewelry. Only the licensed laboratories under BIS provide proof of the purity of the gold used in the jewelry.

Whenever you buy hallmarked jewelry, a symbol or a number of the licensed laboratory is inscribed on it under BIS. So you can check by going to the BIS website that it is a laboratory.

Suppose there is no symbol or number of any laboratory on your jewelry. In that case, it is understood that BIS has not certified the jewelry. If you still buy that jewelry, then you will not get good resale value.

Jeweler’s unique ID mark

Only BIS certified and licensed jewelers to sell BIS hallmarked jewelry. Whenever a jeweler applies for BIS, he is given a unique identification number from BIS. You can check that number on the BIS website.

Their unique identification number is inscribed on BIS licensed jewelers’ jewelry, which confirms that the gold you bought is of the same purity.

Which is the best season to buy gold in Chennai?

You can buy gold in Chennai at any time, but if you buy gold at a festival, then many famous jewelers also give you good discounts. You can buy gold on the occasion of a birthday, anniversary and anything.

Most of Chennai’s gold demand increases in festivals and marriage season; you can still buy gold. But if you want to buy gold as an investor, you should not purchase gold at festivals.

Because during the festive and marriage seasons, the demand for gold in the market increases. The price also becomes very high.

But if you want to buy as consumer gold, you can buy it at the time of festivals given below.

Karthigai Deepam Mahamaham Festival Akshaya Tritiya Christmas Natyanjali Dance Festival Pongal Diwali Makara Sankranthi Dhanteras Thaipusam Eid Tamil New Year’s Day Thiruvaiyaru Festival

Which is the best jewelry to buy in Chennai?

Suppose you are thinking about what kind of jewelry you should buy from the gold market of Chennai. In that case, you should buy one of the lists of best selling jewelry in Chennai given below.

You will find ornaments of various designs in the local jeweler’s shop or showroom in Chennai. Such as new and old design jewelry, earrings, bracelets, chains, and a lot more.

Gold Bangles and Chain Bohat are famous in Chennai. 30–30 percent is famous and sells very well. Earrings and finger rings are also 20–20 percent famous.

In Chennai, you will get a unique necklace and bridal collection. Due to this reason, both of these are 55% popular. Daily wear is 40%, and fashion jewelry is 10% popular.

Whatever numbers are given here, in percentage, they have been given based on a survey of the World Gold Council.

List Of 8 Famous And Trusted Gold Showroom Of Chennai

Lalithaa Jewellery:- This is an old jewelry shop in Chennai. It is reputed in the local gold market in Chennai. They have experience of 3 decades. This is the Leading Jewelers of Chennai, who also have zero making charge schemes. His old classic jewelry collection is much more exciting and beautiful.

Prince Jewellery:- Prince Jewelry itself is a gold market. It is one of the oldest jewelers in Kerala. He started Gold Business in 1930 and set up a showroom in Chennai in 1983.

Tanishq:- Tanishq is a massive brand in the jewelry market that is run by the tata group. The Tanishq part of the tata group was started in 2007, and today it has more than 300 famous showrooms in more than 100 cities.

Kalyan Jewellers:- Kalyan Jewelers was started three decades ago, and today, it is one of India’s largest jewelers. One of its branches was launched with 600 kilos of gold. World-famous celebrity Amitabh Bachchan and celebrity Prabhu of Chennai also endorse Kalyan Jewelers.

Joyalukkas:- Joyalukkas started the first showroom in the mid-1950s. And it is more famous than all the other jewelers. joyalukkas jewelers are spread in 10 countries. And it has been the winner of the UAE Super-Brand Award for six years.

Jeyachandran Gold:- Jeyachandran Gold is also one of the reputed jewelers in Chennai. After a successful textile business, they turned to the gold market. Jeyachandran Jewelers sell jewelry of the very best designs at low prices.

GRT Jewellers:- It is a specialty in Chennai’s gold market that these jewelers sell a wide range of jewelry designs. He has also won many awards except for the top-notch customer service award.

Khazana Jewellery:-Khazana Jewelry is known for its vast design range of gold, silver, and diamond jewelry. Their manufacturing techniques are modern. The price of the jewelry here is slightly higher than the average price.

What is the KDM gold, Hallmark gold & 916 Gold?

Gold is generally classified based on its impurities and the percentage of gold present in it. Gold is classified based on purity into KDM, Hallmarked, and 916 Gold.

KDM Gold

KDM Gold means that 100 grams of gold contains 92 percent gold and 8 percent cadmium. That is, the purity of gold is 92 percent, and the impurity is 8 percent.

Jewelry cannot be made from 100 percent pure gold because it is soft. Therefore, for strengthening it, cadmium alloy whose symbol is Cd is added in 8 percent quantity.

Why KDM Gold is no longer in the market?

Because cadmium metal is considered harmful worldwide, cadmium alloy was first added to bring strength and durability to gold. But if cadmium gold were sold after a long time, it would not get good resale value.

Gold of KDM has been banned worldwide, but it is still used in developing countries like Indian and Pakistan. Cadmium is a poisonous type of alloy; the jewelry made from it resulted from skin and health problems.

Due to this, cadmium has been replaced with copper. To increase the distance of gold in the market, 60 grams of gold and 40 grams of copper are added to every 100 grams of gold in it.

Hallmarked Gold

To certify gold’s quality and purity, it is hallmarked by the BIS. Gold-certified by BIS and having a unique identification number of the jeweler licensed by BIS is considered pure gold.

Jewelers could not cheat with customers, and the customer gets the right gold and good resale value of that gold in the future due to which BIS has been created.

The licensed laboratory’s logo/number under BIS is inscribed above the hallmarked jewelry along with the unique ID number of the licensed jeweler.

916 Gold

916 gold is 22 Karats gold. Here 916 means 91.6 grams of pure gold and 8.4 grams of alloy in 100 grams of gold. 916 gold is also denoted as 22/24. Thus the number of fineness of 916 gold is 91.6%

Which is best out of 22 Karats gold and 24 Karats gold?

People generally confuse about the purity and quality of gold. You cannot buy 100 percent gold. In it, 0.1 percent of the impurity remains. To make jewelry so strong that it can be made of gold, copper is added to it. Due to which the purity of gold is reduced. Based on it, gold is classified into 18 Karats gold, 22 Karats gold, and 24 Karats gold.

What is 24 Karats Gold

In simple language, 24 Karats gold means gold in which no other metal has been added. The fineness number of this type of gold is 99.99 percent.

Because 24 out of 24 parts of this gold are of gold, this type of gold is very soft, due to which jewelry cannot be made from it. 24 Karats gold contains 99.99 percent gold, due to which the color of gold coins and biscuits made from it is very dark yellow.

Gold coins and biscuits are usually made from 24 Karats gold, and this gold is also used in many medical devices.

What is 22 Karats Gold

Stronger ornaments of different designs cannot be made from 24 Karats gold because this gold can be quickly suppressed. Alloy metal is added to raw gold, such as copper, to make jewelry.

Due to which the gold jewelry gets strengthened. But by doing this, the purity of gold decreases, making a difference in its resale value.

On average, jewelry found in the market contains 60% gold and 40% copper. But if you take a BIS hallmarked jewel of 22 Karats, it has 91.6 percent gold and 8.4 percent impurity. 22 Karats gold is also called 916 gold.

What is 18 Karats Gold

118 Karats gold is the cheapest gold available in the market. It contains only 75 percent gold, and 25 percent is another alloy metal like copper. Because the amount of gold in it is meager, this is why the jewelry made from it looks dull and straightforward.

Simple jewelry Vs. Designed jewelry

People do not usually understand what kind of gold they should buy, and then they buy right designed jewelry from the market, which causes them to lose.

If you are thinking about buying gold, you should take simple gold such as gold coins, gold bars, and gold biscuits. Because whenever you purchase magnificent jewelry, other metals are added to it to keep the design intact and strengthen it.

Alloy metals like copper are added to the designed jewelry, which keeps less gold and more impurity. So here comes the lock that you should buy simple gold such as gold coins, gold bars, and gold biscuits.

Shades of Gold:- let’s understand

The shade of gold color depends on its purity-the more gold pure, the brighter its shade. The gold coloring of 24 Karats is very encouraging. As we reduce its purity, its color becomes dull.

So you can find out how much gold purity can be based on the shade of gold color.

How to Invest in Gold?

You can rely on gold investment for your promising future and good investment returns. If we talk about the past, then the price of gold has increased continuously year after year.

If you do not know about these five things, then do not invest in gold. There are a total of 5 ways we can invest in gold.

gold Investment in chennai

Already, gold is considered a high metal content in India and abroad. Many people also like to buy gold based on investment.

Many experts believe that the price of gold in Chennai is breaking inflation for many years. It means that gold consumers in Chennai should stay away from short-term gold investment. Gold is bought in two ways on the standard form.

According to investors, gold is the only asset that also gives an advantage in economic crises. Gold is easily resold, which makes gold an excellent liquid asset.

5 Way to invest in gold

Physical Gold Investment Digital Gold Investment Gold ETF (Exchange Traded Fund) Gold Mutual Fund Sovereign gold bond

How to invest in Physical gold

If you think it is an investment to buy or collect precious jewelry, you believe entirely wrong.

Because investors do not buy ready-made jewelry, they buy raw gold such as gold coins and gold biscuits.

Because if you make ready-made jewelry from the market, you have to pay the designing charge. And in finished jewelry, the purity of gold is reduced from 21 Carats to 22 Carats.

Now know what the benefit of investing in gold biscuits and coins is.

Raw gold means 100% pure gold in coins and biscuits. Usually, raw gold material purchased contains 24K gold. And you do not have to pay any charges for making and designing it, which is a good thing.

But usually, investors buy physical gold less because it has some disadvantages.

Advantages of investing in physical gold

No additional making charges. Hedge Against inflation. Security of Value. Diversify in numerous ways. No impurities. Raw and pure 24K gold. GST and price change risks.

Disadvantages of investing in physical gold

Generally, the only major disadvantage of investing in physical gold is storage and security issues. You have to keep that at a safe storage place and protect that gold from the thief.

If you want, you can keep it in your house, but if you keep it in the bank, you have to pay some money to protect that gold. Now digital gold is another option to invest in gold.

Storing of physical gold is a big problem. Gold can’t be a passive income source. It costs premiums and numerous taxes. Gold has very fluctuating and terrible historical returns.

How to invest in Digital gold

Nowadays, digital gold investment is going on in the market and among investors and ordinary citizens because it is straightforward and safe.

You can easily buy digital gold by creating an account in mobile banking apps like Paytm, GPay. You can buy digital gold up to Rs.50,000 without KYC in these two applications.

Suppose you do not trust these private applications. In that case, you can also buy digital gold by going to the website of Stock Holding Corporation of India Limited. But KYC has to be done in SHCIL (Stock Holding Corporation of India Limited).

Advantages of investing in digital gold

Minimum investment of Rs.1. Minimum delivery of 0.5 Gram to 1 Gram. Storage charges 0 to minimal. You can sell it at any time (High liquidity). Security and purity of gold are high and assured. With Paytm, GPay, you can buy up to Rs.50,000 of gold without KYC.

How to invest in Gold ETF (Exchange Traded Funds)

ETF means that exchange-traded funds. Generally, you can also call it mutual funds because it acts like a mutual fund.

It collects physical gold by collecting money from its customers and big companies and extracts a specific gold figure.

In other words, you are investing in an amount of gold issued by someone rather than in gold. That is why investors consider it a mutual fund.

Advantages of investing in Gold ETF (Exchange Traded Funds)

It is the same as mutual funds. Tax-free because Gold ETF has no VAT, Sales, or transaction tax. It can be listed and traded on the stock exchange with moderate liquidity. Real-time gold prices with high 24 Karats assured gold purity.

Disadvantages of investing in Gold ETF ( Exchange Traded Funds )

Some ETFs are illiquid that makes the flexibility of buying and selling not possible.

How to invest in Gold via Gold Mutual Funds

You can also call Gold Mutual Funds Funds of Funds. Companies of Gold Mutual Funds take money from customers and invest in different ETFs.

Investors generally prefer to invest in ETFs, not in gold mutual funds, as it has disadvantages. The ordinary citizen who does not have a Demat account can go with Gold Mutual Funds to invest.

Gold mutual funds directly or indirectly invest in gold reserves, such as governed gold reserves and ETFs. ETFs, take some charge of the management.

So if you do not invest in ETFs and invest in Gold Mutual Funds, then here you have to pay double the management fees annually. Minimum of 0.5% to 1% of ETFs and the management fees of Gold Mutual Fund Company separately.

But if you do not want to open a Demat account or do not use it, then you can go with Gold Mutual Funds.

Advantages of Investing in Gold Mutual Funds

It is a highly liquid asset. The trading of this fund is straightforward without much hustle. No storage issues at all. You can start investing in it just by Rs.500. High diversification Demat account isn’t necessary to invest in it. It is effortless to manage.

Disadvantages of Investing in Gold Mutual Funds

1% to 2% exit load. No interest rates at all. You can’t take a loan on it.

How to invest in Gold via Sovereign gold bond

Suppose you want to invest in gold with great comfort and strict security and want to reap even more benefits. In that case, you can invest your money in a Sovereign gold bond.

The Sovereign gold bond has strict security recognition as the Reserve Bank of India issues it.

Suppose you invest in 10 grams of gold today by Sovereign gold bond, and the price of that gold today is Rs.5000, So today’s gold price gets locked.

The limit of a Sovereign gold bond is that for the next five years, your money gets locked, you cannot refund that money at all. But the Sovereign gold bond is a tradable asset. However, you can sell it to anyone else before five years.

But if you trade a Sovereign gold bond before five years, you will have to pay capital gains tax on it. You do not get the benefit of SIP in the Sovereign gold bond.

Gold ETFs, Gold Mutual Funds, stocks, and standard mutual funds have to pay capital gains tax, which you do not have to pay in Sovereign gold bond unless you sell it before five years.

If you sell a Sovereign gold bond within less than three years, then you have to pay STCG (Short Term Capital Gain Tax) on it, which is your tax slab.

If you sell a Sovereign gold bond after three years, you have to pay LTCG (Long Term Capital Gain Tax), 20% + your CESS. But to calculate this, you get an indexation benefit. However, you can reduce inflation as much as the profit is made. After that, you will have to pay capital gains tax on the amount you will get.

You can invest in Sovereign gold bond through banks, post offices, stock holding corporation of India. And if you have a Demat account, then you can also invest in it through any stockbroker.

Advantages of investing in Sovereign gold bond

Moderate liquid asset. It has a Very transparent process and security provided by the Government of India. No making charges, No storage risks, No impurities. No GST or security transaction tax. The maturity period eight years, but exit opens after five years. If you sell it after five years, you don’t have to pay capital gain tax. Collateral for loans. Easily tradable on the exchange rate. Long term high returns on investment (2.5% interest per annum). You can keep it as a Demat form. The minimum investment rate is 1 gram. Issued price = current price.

Disadvantages of investing in Sovereign gold bond

The maximum investment allowed is only 4 Kgs. Your invested money will be locked for 5 Years. You have to pay STCG (Short term capital gain tax) or LTCG (Long term capital gain tax) if you trade it before five years. No SIP option.

What to Do With Old Gold in Chennai?

You can do a lot with old gold coins, jewelry, gold biscuits. You can get old jewelry to a jeweler and get new jewelry made, or you can sell the old gold at today’s price, which will give you much profit.

Today’s jewelers do not buy old-fashioned jewelry. They only check the quality of gold. First, they use a German machine for it. To find out the quality of gold with such a device, the old ornaments have to be polished. Whose expenses will be different? That means you will suffer loss.

Precious memories are associated with each old jewelry. So if you do not want to sell your jewelry to anyone, you can also take much money to exchange it. Nowadays, many companies with mutual funds give loans on gold very quickly, which will be useful to you.

And the other thing that you can do is that you will melt that gold and make biscuits or coins that will be suitable for a long time and give a good return for a long time. Or invest the money that comes from selling that old gold by investing in Sovereign Gold Bonds, which will provide you much profit.

How to get a loan on gold in chennai?

You can usually take a loan on gold by pledging with a bank, local jeweler, or someone else. I have mentioned the loans and policies related to some finance companies and some private and government banks below.

What are the advantages of taking loans against Gold?

There are many advantages to taking a loan on gold. Still, if we look at it as finance, it has five important advantages.

lower Interest rates

Interest rates of home loans, credit card loans and personal loans are much higher than those of gold loans. The interest rates for personal loans and other loans are between 12 to 19 percent.

While the interest rate for loans taken on gold varies from 7 to 12 or 13 percent, if you have to take a loan for an emergency for a short time, that too for a peso, then you should take a gold loan.

Fast loan disbursement

Except for the gold loan, it takes 48 to 72 hours for disbursement in the remaining loans. It is straightforward and fast to take a gold loan because within 1 hour, and you can get the funds immediately by taking the loan from the Aadhar card and your gold.

Processing fees and charges

Home loans, personal loans, and auto loans also have decent processing charges and application fees. But this is not the case with gold loans. Some banks charge processing fees of gold loans 0.25 and some 1 to 1.5 percent.

But Chennai’s Manappuram Finance costs just Rs.10 Application charges, and IIFL does not charge processing charges.

No credit score needed

For taking loans in all other ways except gold loans, your credit score must be high. Otherwise, banks and finance people do not give you loans.

This is not the case with gold loans. Even if your credit score is 0, you will get gold loans quickly. Taking a loan without a credit score is a huge advantage in itself.

Only need to pay interest

You only have to pay interest on the loan for you every month. Suppose you have taken a gold loan of Rs.10,000 at a part of 10%, then you have to pay only Rs.1,000 per month.

Income prof not needed

To take all other loans except a gold loan, you must have salary proof, income statement, and bank statement. But nothing like this happens in the gold loan. Without these things, you can take a loan against your gold by mortgaging it.

Charges free early closure

Taking a loan, the term of the loan is fixed. Suppose you take a personal loan or home loan, or any other loan. And you get the loan amount, and if you want to close that loan, then in some loan, you will have to pay a maximum of 4 percent charges. After taking a gold loan, you can close it anytime without any charges.

Stockmarket Investment Vs. Gold Investment

Whose we all know that gold is given a very high status for centuries, and history also checks gold price. In general, people in India invest more in stocks. Still, due to economic crises, investors have now turned to gold investment.

In today’s era, the returns of gold investment in India are around 20 to 25 percent. The returns of other stocks are between 5 and 15 percent.

Investors are making much money by investing in gold. Still, warren buffet on gold says, “Gold is a non-productive asset.”

Warren Buffet said that “no matter how much you decorate your gold, you cannot make money from it. Gold is a commodity.”

If you buy a house by investing in real estate, it will continue to rent to you. If you invest in the form, then it will continue to give you corp. Stock is an underline asset that also has high risk and profit.

If you think that ready jewelry should be brought based on investment, you will suffer financial loss.

Because if you invest in gold based on the consumer, 20 to 25 percent of it will be wasted in making charges. What’s more, storage costs and security issues, and gold imports. Because no jewel is 100% pure, even if you take 24 Karats ornaments, you will get 21 Karats to 22 Karats only.

But if you want to invest in gold based on the investor, you can invest in 5 ways, which I have given below.

Gold vs nifty historical returns

we can say that gold is a safe investment because whenever the economy falls, then the price of gold has increased.

Whenever a Crisis comes, then inflation increases, and the price of gold also increases. You can keep 10 to 15 percent gold in your portfolio.