Gold Investment: If you plan to buy gold this Diwali or Dhanteras, avoid these 5 mistakes; you could face significant losses..

Gold Investment Tips: Buying gold during the festive season is an age-old tradition for Indians. Whether it's Dhanteras, Diwali, or a wedding, people consider it auspicious and buy gold. But if you're considering investing in gold this time, avoid these five mistakes. Otherwise, you could end up with more losses than gains.

Especially when gold prices are skyrocketing, and the price of 24-carat gold (gold rate today) in Delhi's bullion market has reached ₹1,19,390 per 10 grams.

However, on Thursday, it fell by ₹550, reaching ₹1,18,840. But the question is, what mistakes should be avoided when buying gold, which is breaking records every day?

1. Don't forget to check the hallmark
When buying gold, first check its hallmarking. The government has made it mandatory. Hallmarking guarantees the purity of gold. Gold without a hallmark can cause problems when sold later.

2. Investing in Jewelry: A Big Mistake
Buying jewelry is fine, but it's not always beneficial for investment. Charges and wastage are deducted. If you're just looking to invest, it's better to buy gold coins, gold bars, or digital gold.

3. Not Acquiring Complete Jewelry Documents
People often neglect to obtain a receipt or certificate. Remember, it's crucial to obtain a proper bill at the time of purchase. It should clearly state the purity, weight, and making charges. These documents will determine the value of your gold in the future.

4. Limiting Yourself to Physical Gold
These days, there are many options for investing in gold, such as Sovereign Gold Bonds (SGBs), Gold ETFs, and mutual funds. These are not only safe but also eliminate the risk of storage and theft. Furthermore, the government also pays interest on SGBs.

5. Ignoring the right timing
During the festive season, gold demand increases, and prices also rise. This can lead to hasty purchases. However, from an investment perspective, it's beneficial to choose the right time by observing price trends.

Commodity experts say that gold is considered a safe investment in India, but mistakes can lead to losses. Therefore, check the hallmark, obtain the correct bill, understand the investment process, and avoid haste.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.