Buying Gold This Dhanteras?
Buying gold This Dhanteras? Smarter Ways To Invest In gold Coins, Alternative gold Investment
Dhanteras 2024: Leading banks, including sbi, hdfc bank, bank of Baroda, ICICI bank, and Union bank of india, have launched gold coins under the RBI authorizationBanks Enter gold Market with 24K Coins
Leading banks, including bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">state bank of india (SBI), hdfc bank, bank of Baroda, ICICI bank, and Union bank of india (UBI), have launched gold coins under the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) authorization. These coins, offered in 2, 5, 8, and 10-gram denominations, bear the respective banks' logos and are marketed as secure investments. Each gold coin is certified for 24K purity and comes in tamper-proof packaging. customers can conveniently order online or through bank apps, with purchases requiring a PAN card and a simple application form.UBI and several other banks extend gold coin sales to non-customers, accepting cash for amounts under Rs 50,000. For higher amounts, cheques or demand drafts are required, adding convenience for investors looking to buy without opening new accounts.
Premium Pricing and Limited Resale Options
While bank gold coins offer security and purity assurance, financial advisor Donald Gonsalves of SimplePath cautions buyers about the premium — up to 10 percent over the standard market rate — citing additional costs for certification and secure packaging.This can make bank gold coins less competitive for pure investment purposes.Furthermore, investors looking to resell may data-face challenges, as banks are prohibited from buying back gold coins due to RBI policy. This limitation often drives sellers to local jewelers, where prices may not match their initial purchase rates, posing potential losses.