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Can you rotate money with gold effectively?

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momo

momo

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Say you buy voucher for a certain brand (reliance jewels/Ketan/Kalyan...) with accelerated 5x gyftr reward points and purchase an item with the cheapest making charges (What is it - a coin?)
Can you resell it to them immediately at the same price minus making charges? Which vendors would allow this?

What's the effective cost of reward points if you do this? (The "making charges loss" vs net points earned)
 
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momo said:
Say you buy voucher for a certain brand (reliance jewels/Ketan/Kalyan...) with accelerated 5x gyftr reward points and purchase an item with the cheapest making charges (What is it - a coin?)
Can you resell it to them immediately at the same price minus making charges? Which vendors would allow this?

What's the effective cost of reward points if you do this? (The "making charges loss" vs net points earned)
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Technically, you could do that. You would have to pay capital gain tax. And your card could get blocked if they catch wind of this activity. I'm not sure gold retail chains offer any discount on their vouchers so net-net there you would still be at a loss. You could buy Amazon vouchers and purchase gold coins. But someone has to confirm whether vouchers can be used for gold coin purchases on Amazon as I haven't tried that before.
 
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Many have tried and given up after few attempts when they realize these nominal gains are not worth it and unsustainable. You will too but you would want to learn from your exp. Good luck
 
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Generally gold coin or bar purchases are not allowed using GV.
And gold coin/bar does not have cheap making charge, they go upward of 8% with majority of the brands.
 
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When buying a gold coin, there is a 3% GST.

When selling a gold coin for money, jewelers will deduct 3% from the total amount.

When selling gold for gold ornaments, there is a 12% making charge.

Kalyan will inform you that the gold coin is currently out of stock.

It's awesome, If you have any gold gifting requirements.
 
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