Suggestion for purchasing Physical Gold...

[vagabond153]

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

 

[vagabond153]

So this means that minimum 6% loss is a certainty

Yeah taken in to account.

 

[sahilgulati5]

@drsel interesting facts. Can anyone make profit if we buy Gold Coin using Amex Plat Travel card and sell it. is it worth the hassle?

 

[Dragon_slayer]

Is it gold coin or jewellery? If its coin, then buy from any brand which has GVs listed at most discount on Amazon.

Use the highest ROI card you have to buy that GV

 

[vagabond153]

Is it gold coin or jewellery? If its coin, then buy from any brand which has GVs listed at most discount on Amazon.

Use the highest ROI card you have to buy that GV

I have considered this, the "requirement" is to buy now and prolly make jewelry later may be in 6 months or an year. Part of it may be sold, all depends on family decisions. Based on this I am preferring local brands like PNG, Ranka etc. Online to me seems bit risky with its quality and acceptance by local jeweler for making in to jewelry.

 

[drsel]

@drsel interesting facts. Can anyone make profit if we buy Gold Coin using Amex Plat Travel card and sell it. is it worth the hassle?

No it is not, that is exactly my point
If it was so even the jewellers themselves would be doing it all the time.
3% GST is the spoiler

 

[Dragon_slayer]

I have considered this, the "requirement" is to buy now and prolly make jewelry later may be in 6 months or an year. Part of it may be sold, all depends on family decisions. Based on this I am preferring local brands like PNG, Ranka etc. Online to me seems bit risky with its quality and acceptance by local jeweler for making in to jewelry.

You are just buying GVs online, the purchase is done at store only.

Just instead of paying cash, you pay via GVs

 

[Dragon_slayer]

The reason behind doing this that most cards dont offer rewards on gold purchases directly. So this workaround is suggested.

 

[vagabond153]

The reason behind doing this that most cards dont offer rewards on gold purchases directly. So this workaround is suggested.

Could you list out such sites, what card gives max discount?

 

[sumeet]

Could you list out such sites, what card gives max discount?

just buy PNG coins from myntra through GVs

 

[drsel]

just buy PNG coins from myntra through GVs

He missed Myntra 10x from 1 to 11 March 2025

 

[vagabond153]

just buy PNG coins from myntra through GVs

I think those are 24k right? I need 22k