Credit Cards for Online Gold Coins Purchase - Query & Discussion

[no_name]

hi all,
i will have to buy gold jewellery in coming 2 years. for this, i am planning to buy gold coins (2-3 gm every month) from amazon, flipkart etc. basis discounts being offered.
this will be more like a hedge for my investment.

can you plz suggest me a way to go forward? i donot have dcb or infinia, and i am currently using sbi sb card for all my gift voucher purchases (for 5% cb). i have multiple other cards and i am open to get any new card as well.

 

[Channakya]

Purchasing gold coins online is a bad decision as gold coins doesn’t come on the market value , gold coins rate includes making wastage and GST as it can be considered as jewellery. So, when you exchange the gold coin in the market, you won’t be getting the actual rate. So you would be losing around 10 to 15% value.


Case one

If you want to purchase cold every month. The best way is to go to the local market and find the best store where the store has monthly payment option where you can buy the Gold for the particular rate of every month . Which carry forward, and you can opt for the golden jewellery at the year end.

Case two

Else get to the local market shop, which has best designs in jewellery they sell 24 carat gold pieces of 2 g, 3 g or more so if you buy Gold every month, you can get Gold at best rate, and there won’t be any other extra charges like wastage and making revenue exchange this gold to get jewellery.

In my way of thinking case 2 would be best.

 

[no_name]

Purchasing gold coins online is a bad decision as gold coins doesn’t come on the market value , gold coins rate includes making wastage and GST as it can be considered as jewellery. So, when you exchange the gold coin in the market, you won’t be getting the actual rate. So you would be losing around 10 to 15% value.


Case one

If you want to purchase cold every month. The best way is to go to the local market and find the best store where the store has monthly payment option where you can buy the Gold for the particular rate of every month . Which carry forward, and you can opt for the golden jewellery at the year end.

Case two

Else get to the local market shop, which has best designs in jewellery they sell 24 carat gold pieces of 2 g, 3 g or more so if you buy Gold every month, you can get Gold at best rate, and there won’t be any other extra charges like wastage and making revenue exchange this gold to get jewellery.

In my way of thinking case 2 would be best.

thanks. i think i will deop my idea of buying coins altogether and will stick SGBs (just to have a gold component in my portfolio).