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

 

[vagabond153]

Update ; Brought 2.5L worth gold under Kuber scheme from PNG and Sons' - details are here - link

thanks @drsel @Dragon_slayer

Reasons for selecting this -

- I have uncertain timeline when I actually need gold so if I keep it for 11 months will get 8% more (annually)
- Used Amex Plat Travel and crossed first milestone of 1.9L, in a month`s time will get another 1.5L from Amex and rest via Amazon ICICI or SBI cashback assuming will get 1% cashback
- Brought at market rate + 3% GST, no additional charges
- Same store is available at my home town so if plan to make jewelry there, will get 10% off on making post 1 year completion

questions -

- If I hit Amex Plat Travel 4L milestone, taj voucher are issued immediately or end of year?
- Does Technofino allows to sell or trade the taj voucher?
- Any suggestions for Amex - add on, second card or anything to get max benefits?

Thanks

 

[Dragon_slayer]

Update ; Brought 2.5L worth gold under Kuber scheme from PNG and Sons' - details are here - link

thanks @drsel @Dragon_slayer

Reasons for selecting this -

- I have uncertain timeline when I actually need gold so if I keep it for 11 months will get 8% more (annually)
- Used Amex Plat Travel and crossed first milestone of 1.9L, in a month`s time will get another 1.5L from Amex and rest via Amazon ICICI or SBI cashback assuming will get 1% cashback
- Brought at market rate + 3% GST, no additional charges
- Same store is available at my home town so if plan to make jewelry there, will get 10% off on making post 1 year completion

questions -

- If I hit Amex Plat Travel 4L milestone, taj voucher are issued immediately or end of year?
- Does Technofino allows to sell or trade the taj voucher?
- Any suggestions for Amex - add on, second card or anything to get max benefits?

Thanks

- If I hit Amex Plat Travel 4L milestone, taj voucher are issued immediately or end of year? -- Immidiately
- Does Technofino allows to sell or trade the taj voucher? - Yes, on RML group
- Any suggestions for Amex - add on, second card or anything to get max benefits? -- What benefits ? Milestonne remains the same, add ons dont get any free lounge access.

 

[vagabond153]

- If I hit Amex Plat Travel 4L milestone, taj voucher are issued immediately or end of year? -- Immidiately
- Does Technofino allows to sell or trade the taj voucher? - Yes, on RML group
- Any suggestions for Amex - add on, second card or anything to get max benefits? -- What benefits ? Milestonne remains the same, add ons dont get any free lounge access.

Thanks,

How to join RML group?

 

[vagabond153]

- If I hit Amex Plat Travel 4L milestone, taj voucher are issued immediately or end of year? -- Immidiately
- Does Technofino allows to sell or trade the taj voucher? - Yes, on RML group
- Any suggestions for Amex - add on, second card or anything to get max benefits? -- What benefits ? Milestonne remains the same, add ons dont get any free lounge access.

Never mind, found the thread....

About Amex, I was referring to are there any additional benefits one get after hitting 4L milestone, add on card etc? Asking as I hit it just in second month 🙂

 

[sahilgulati5]

Never mind, found the thread....

About Amex, I was referring to are there any additional benefits one get after hitting 4L milestone, add on card etc? Asking as I hit it just in second month 🙂

Amex Travel is better only till 4L. After hitting that CCians jump to next set of cards.

 

[vagabond153]

Amex Travel is better only till 4L. After hitting that CCians jump to next set of cards.

Which are? Or you referring to other brand CCs I think