Gold and Indians are inseparable, since ages we witnessed that Indian households have an emotional connect to gold. This connect has only been increasing exponentially. There are various factors why India is gold centric society.
To name a few it is as a result of generations of gold lovers, most of the people believe owning gold as an investment, some treat it as collateral in the rainy days, some buy for the sheer love of the metal. Whatever may be the reason, the fact is that Yellow metal is here to stay and would continue to hurl its magic for the many years to come.
Many Jewellery brands understand the steep rise in Gold jewellery Price and the factors that are associated with it. But for a common man, his love for the gold overshadows all the factors. However with soaring prices, gold has always been a dear metal to own up. Despite the price the spending on gold is seen to only increase. A major contributing factor is the disposable income in the Indian society, it is seen to have risen over the years. Second contributing factor is the trend in buying decisions. Unlike our previous generations where buying decisions are solely taken by the head of the family or a male member of the family, it is now shifting gears where every member of the family is more individualistic and is empowered in their own way.
Having disposable income levels leads to buying power, however the real key to accumulate gold lies in intelligent buying. Buying gold based on occasions, festivals, and seasons is slowly trending. Likewise the offers, discounts and design variety available to the end consumer also increased. Taking time out to plan your money to purchase gold when such offers are running is wise. Example Jewellery houses launch melas such as the bangle mela during off season. Such campaigns can exploited to our benefit where the Gold bangle price varies when compared to the normal days.
Secondly, look for jewellers who are well established in the market to buy gold. Such as Vaibhav Jewellers who have a reputation of over two decades. Buying gold from such trusted stores helps in buy back, returns, old gold exchanges and repairs issues etc. They have processes and procedures in place and hence will be hassle free to deal with them. Also because of their wider presence it would be easy to reach out to them.
Thirdly, while buying jewellery give utmost importance to research either online or offline. Since gold pricing is not standardized, jewellers are at their discretion to price them. Hence, it is advisable to look at a number of options and chose the one which are pocket friendly. After all, a penny saved is a penny earned.
Finally, pre plan your jewellery purchase. Example if you have a close ones wedding or a function in the family on cards, it is advised to monitor gold price on a regular basis and buy at the lowest possible dip, also another golden tip is that buy a 24K coin or ingot, use it when you want to purchase jewellery. This way you can hedge yourself from the price fluctuations and exchange it when you actual plan to buy the Jewellery.
We sign off here, hoping that these tips have helped elevate your gold sense to the next level.
