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How to buy gold, silver and jewellery online in India?
There are many ways to buy gold, silver and jewellery online in India. Most of the leading private sector banks offer this facility and you can buy the same.
Of course, you cannot buy jewellery from these banks as the buying would be restricted to gold coins and bars.
A look at how you can buy gold and silver online
You can buy gold online by using your internet banking facility. You have to first login with your password and ID and then complete the process after the instructions.
You can also check the prices on the website of the respective banks before buying the gold online. The prices are updated at intervals during the day to reflect the correct price.
Since gold is actively traded, the prices vary every second.
You can buy gold 24 karat purity and has an essay certification. Most of the banks that offer gold and silver online offer it in various grams.
These include 0.5grams, 1grams, 2.5 grams, 5 grams, 8 grams, 10 grams, 20 grams, 50 grams and 100 grams. Silver on the other hand is available in 50 grams and 100 grams.
Presently, these are available only online and through physical presence at the branches. A day will come when these would be available even at the ATM machines.
To read more on how to buy gold ETFs click here
What are the features available when you buy gold and silver online?
The gold bars come in 24 karats with 99.99 per cent purity. Banks also give you an invoice for the purchase, which is very important in case you sell the same. Also remember, that banks will not buy back the gold and silver that they have sold.
Therefore, in case you want a ‘buyback" kind of option for gold bars and coins, please buy them from a jeweler, so they can buy it back in case you when you want to sell the same.
Also do remember that bank charges are slightly higher, but there is always a guarantee on purity. You can check the rates from various sources before buying gold, silver online in India.
What about buying jewellery online in India?
You can also buy jewellery online. You can buy the same from flipkart.com or homeshop18.com. However, this may not be a good idea, as you would get little or no indication of the kind of jewellery that you are buying. Therefore, it's best to buy jewellery with your physical presence at the jeweller.
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