Gold as an investment. Google for “buy gold” and you will come up with tons of articles giving the same old advice. Buy gold in bullion form not jewelery, why buy gold, where to buy gold, gold ETFs etc etc. They tell you the same thing, over and over again.
But none of these articles will tell you how to buy gold! They will tell you that Gold makes a good investment. And that banks in India charge more than jewelers. And that gold bullion is better than gold jewelery. Yes. Fine. But where do I buy gold bullion? From ABC or from XYZ? Damn. So much for the power of the Internet!
I came across this comparison table recently and though it is the same fodder for the same old mill, it does demonstrate what all the pundits are shouting themselves hoarse about.
From this it is clear that it is best to buy your gold bullion from the local jeweler. But which one? Or does Tanishq sell gold? And if I buy gold from the local jeweler how do I have it’s purity certified?
The next question is how do I sell gold? Will the jeweler buy gold coins / bars? No idea. I have never tried to sell any gold.
The bottom line is that you will have to do your own research. And as the market is unorganized, you don’t have any guaranties. Buy from a jeweler you trust. Get your purchase certified independently. Most Tanishq outlets have gold purity checking machines and will check your gold for you.
I have started a research exercise wherein I am trying to identify jewelers in Hyderabad who sell gold coins and bars. Will post results here as and when they become available.
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