Ajay Kedia, Founder, Kedia Advisory says that gold is a good option for investment. But gold jewelery is not a good option in any case. One cannot expect profit in this investment.
Gold is a good option. But gold jewelery is not a good option in any case.
Karnal farmer Rajpal has earned good money from the crop, so gold ,Gold, Key Jewelery (Jewelry) invested in. Then there was gold at the level of Rs 55,000 per 10 grams. He made the making charge for the ten tola jewellery. (Making Charge) and GST (GST) Added and paid six lakh rupees. Suddenly there was a need for money for the treatment of his wife, so he went to the jeweler to sell his gold. When the jeweler told the price after doing the calculations, he was stunned. Actually, this jewelery was of 20 carats, which was sold to Rajpal for 24 carats. Now the price of gold is Rs 48,000, so the price of 20 carat gold is Rs 40,000 per 10 grams. On this too, the jeweler cut a discount of 10 percent.
Would have done anything out of desperation. Rajpal sold this jewelery for Rs 3.60 lakh. This story is not only about Rajpal. Especially in the rural areas, most people buy jewelery and invest their savings in gold, which have to bear the brunt of it later.
Can’t expect returns in investment
Ajay Kedia, Founder, Kedia Advisory says that gold is a good option for investment. But gold jewelery is not a good option in any case. One cannot expect profit in this investment. That’s why one should never invest in gold jewellery. Jewelery should be bought only for the necessities. All the jewelery you buy should be hallmarked.
Apart from this, Ajay Kedia says that sovereign gold bonds are the best option for investing in gold. If you want to buy only physical gold, then buy it through the bank in the format of coin, bar or biscuit. If you are buying this product from a jeweler, then ensure its purity. Also, if you are buying gold, then definitely take a firm bill for it.
Why is the bill necessary?
Although the government has now made hallmarking mandatory on gold jewellery, some jewelers are still selling jewelery without hallmarking. Some people buy jewelery without bill in order to save GST. They may have to pay the price for this greed later.
That’s why whenever you buy jewelry, definitely take a firm bill for it. You will get many benefits from this. Whenever you go to sell this jewelry during the intervening time, the jeweler cannot back down in terms of its purity. While selling jewelery with Bill, jewelers avoid rigging.
If you have insured the house and belongings, then you can claim it in case of theft or divine calamity. Insurance companies do not accept the claim without the bill. The same situation applies to bank lockers. Apart from this, the jewelery purchased with the bill is usually not confiscated during raids by the Income Tax Department. That’s why while buying jewelry, get caught in the greed of cheap and saving GST. To avoid a situation like Rajpal, definitely take a firm bill.
Overall, jewelery is not a good option for investment. Whenever you are buying gold, it should be hallmarked. Pay it according to the carat only. Whatever jewelry you buy, definitely take a firm bill. This bill can prove to be very useful for you in future.