Suggestion for purchasing Physical Gold...

[Dhudu]

I am looking to make a physical gold purchase around 50-60 grams (approx.. 5 lakhs), preferably in stores like PNG, PNG sons, Ranka etc in Pune city. With current rate it comes around 5 lakh of purchase.

Let me know which would be the best card for this purpose.

Existing Cards:
- Amex Travel Card (Joined last month)
- Amazon ICICI
- SBI Cashback
- Axis Flipkart

Am I open to getting a new card for this?: Yes

Additionally, I can stagger the purchase in 30 days.

Any other offers running for gold, credit card etc please let me know.

TIA

 

[Dragon_slayer]

Just to understand....if i buy a gold coin at store using 100rs GV and sell that gold coin on the spot in the same store..what will be cash conversion?

Will i get 94rs? ( considering 3% on sell and 3 % on purchase)

You cannot sell at same spot, you will need to find a local seller who can pay in cash

 

[messi_10]

You cannot sell at same spot, you will need to find a local seller who can pay in cash

Ok...what i meant is considering gold price same...what is conversion of 100 to cash?

 

[Dragon_slayer]

Ok...what i meant is considering gold price same...what is conversion of 100 to cash?

Never did it, so no idea about it. But I heard many people doing this, so it must be profitable

 

[Dhudu]

I am looking to make a physical gold purchase around 50-60 grams (approx.. 5 lakhs), preferably in stores like PNG, PNG sons, Ranka etc in Pune city. With current rate it comes around 5 lakh of purchase.

Let me know which would be the best card for this purpose.

Existing Cards:
- Amex Travel Card (Joined last month)
- Amazon ICICI
- SBI Cashback
- Axis Flipkart

Am I open to getting a new card for this?: Yes

Additionally, I can stagger the purchase in 30 days.

Any other offers running for gold, credit card etc please let me know.

TIA

Updating this for the forum.

This turned out to be quite good based on the run Gold had over last year. Had brought the gold worth 2.5 L under the same Kuber Scheme - have got 8% scheme bonus and gold price appreciation from 8k to 11k...

Beyond 4L Amex Platinum Travel feels useless, what additional card I shall consider for annual spends of another 3-4 Lakhs?

 

[christa]

I am looking to make a physical gold purchase around 50-60 grams (approx.. 5 lakhs), preferably in stores like PNG, PNG sons, Ranka etc in Pune city. With current rate it comes around 5 lakh of purchase.

Let me know which would be the best card for this purpose.

Existing Cards:
- Amex Travel Card (Joined last month)
- Amazon ICICI
- SBI Cashback
- Axis Flipkart

Am I open to getting a new card for this?: Yes

Additionally, I can stagger the purchase in 30 days.

Any other offers running for gold, credit card etc, especially if they can help someone looking to Start Gold Trading for Beginner, please let me know.

TIA

I’d go for a high-limit premium credit card that gives good rewards or cashback on jewellery purchases (or has tie-ups with jewellery stores). Use that card for the bulk of the 5-lakh purchase (or split it across two transactions to stay within limits) after confirming the jeweller’s processing fees. If your existing cards don’t support that size, apply for a new “jewellery-friendly” card now so it’s ready when you make the purchase.