Today, the festival of Dhanteras is celebrated across the country. This festival falls two days before Diwali. Buying gold and silver on Dhanteras is considered auspicious. This is the reason why there is a bumper sale of gold and silver on Dhanteras. Apart from this brass, brass, steel tools and brooms are also purchased in large quantities. However, purchases are expected to decline this year due to record prices of gold and silver. If you are planning to invest in gold and silver on Dhanteras, then here we will tell you which option will be best, jewelry or coins. When purchasing gold or silver jewellery, one has to pay heavy manufacturing charges along with 3 percent GST. Making charges vary depending on the design, item, weight, company and merchant of the jewelry and can range from 10 to 40 percent. Apart from this, you will have to pay additional 5 percent GST on making charges. Making charges add significantly to the total price of the jewelry. However, when you sell this jewellery, you not only lose the GST but also lose the considerable amount spent on it. Coins Talking about coins, you will also have to pay 3 percent GST on gold and silver coins. The levy on coins can vary from 3 to 11 percent, depending on various factors. In addition, you will also have to pay 5 percent GST on the manufacturing cost. Therefore, purchasing jewelry for investment purposes can turn out to be quite expensive. However, by buying gold or silver coins, you can save a lot on making costs compared to buying jewelry. Share this story Tags
Gold Investment Strategy: ‘Gold Jewelery or Gold Coins…’ Which option for investment will give more profit?
