Akshaya Tritiya, also known as Akha Teej, is a highly auspicious and sacred day for the Hindu and Jain communities. It falls on 3rd Tithi (lunar day) of the bright half (Shukla Paksha) of the Indian month of Vaishakha. The Sun and the Moon are at the height of their brightness on this particular day.
Akshaya Tritiya 2018 falls on 18th April 2018 (Wednesday). Especially, this day is auspicious if it falls in conjunction with Rohini Nakshatra. It is an auspicious day to start new ventures as any endeavor started on this day will grow and bring prosperity. Buying gold on Akshaya Tritiya is believed to invite endless fortune into one’s life. ‘Endless fortune’ means the auspicious presence of Lakshmi.
Are You Planning to buy gold this Akshaya Tritiya? Have you ever explored the tips to get the best deal? Let us have a look:
According to the BIS Act, a hallmark agency values each and every piece of gold jewelry submitted by the jeweler to authenticate if the metal content conforms to the national and international standards of purity. After a series of tests BIS certification is provided. The ornaments not bearing the BIS hallmark are sold at cheaper rates. Most individuals take this as a good opportunity to purchase gold at low price. But there is no guarantee for what they are paying for. You need to be very careful while purchasing.
- Purity Grade:
Carat is the term used to designate the purity of gold. So, in any hallmarked jewelry, the purity of gold can be seen mentioned besides the BIS mark. It is very necessary to check the number on the jewelry.
The hallmark center’s logo is next to the line to be checked. Each hallmarking center is designated with a unique logo which is embossed on every piece of jewelry in order to verify its purity. It is an assurance that the product can be traced back to the center in any case of discrepancy.
The year in which the jewelry was hallmarked comes next. In the form of an alphabet, the year is marked. You should check this out as it is an imperative step in the purchasing process.
It is known to all that every jeweler certified by the BIS has a logo of his own which is embossed in the ornaments. If you want to purchase coins then make sure that they are in tamperproof packing with the finesse mentioned on the coin.
After successfully following the above steps, you need to focus on this last step that is asking for a valid cash memo or invoice with details of every charge raised for the jewelry you purchase. In order to raise a complaint about the purchase made, a valid bill is necessary. As without that piece of document, authorities will not take any action on your complaint.
Are you aware of the terms – Gold ETFs, Sovereign Bonds andGold Investment?
Gold Exchange-Traded Fund (ETF’s):
Gold Exchange-Traded Fund (ETF’s) are units representing physical gold that may be in paper or dematerialized form. Such units are traded on the exchange like a single stock of any company. They may be beneficial because of their low costs, tax efficiency, and stock-like features.
A sovereign bond is a debt security issued by a national government. It can be denominated in a foreign currency or the government’s own domestic currency. Unlike corporate bonds, these bonds primarily include the exchange rate, economic risks and political risks that can lead to a possible default on the interest payments or principal.
It is known to all that out of all the precious metals, gold is the most popular as an investment. Investing in gold can be a way of diversifying risk, especially through the use of futures contracts and derivatives. The investment made in gold can be most effective and safe compared to other investments.