How to Buy Indian Gold

Buying Indian gold can be a good investment.

Gold is often bought and sold in India as a culturally important commodity. The country has a high, increasing rate of gold consumption. Buying Indian gold is much the same as buying gold anywhere, with some important differences.

Gold

Indian gold is sold as jewelry, collectible Indian coins or bullion. It's big business and there are many available gold dealers. Indian coins should be bought by experienced collectors. The purity of gold jewelry and bullion bars or coins should be authenticated before purchasing.

Sources

Jewelers, coin dealers and banks--including the State Bank of India--commonly sell gold. Banks and reputable dealers will guarantee the authenticity and purity of their gold. Jewelry shops sell traditional Indian gold jewelry with collectible value above the spot price of gold, as well as Indian coins and bullion.

Drawbacks

Banks charge a premium when selling gold and will not buy it back. They will require a Permanent Account Number or Indian tax identification information for purchases over 50,000 rupees. This documentation may not be required by jewelers, who usually charge a lower premium than banks.

References

• Gold Price: Buy Gold
• One Mint: How To Buy Gold Coins in India?