Where Should you Buy Gold, Online or Offline?

buy gold, online or offline

Gold is a highly prized metal in India and the rest of the globe. It’s no secret that Indians adore this magnificent metal. We have been acquiring gold for ages, from weddings to birthdays to anniversaries. This precious metal is brought as an investment throughout the world.

The Indian culture sees gold as a symbol of fortune, beauty, and security. Gold has become an outstanding investment tool due to its rising prices and returns over the last few years.

The most challenging decision to make is whether to buy gold online or to buy gold offline. The two purchase methods offer very distinct benefits, and each has its own set of drawbacks.

This article discusses the prospects of where to buy gold and the best option to buy gold.

Where Can I Buy Gold?

Unlike in the Middle Ages, when we had to go to a store to buy gold personally, we now have many more possibilities. Although buying in a store has its perks, such as feeling the metal and seeing it sparkle directly in front of your eyes, you only purchase it if you are delighted with it.

The twenty-first century is a digital era, with everything from food to electronics being available online. According to the research, consumers are becoming more comfortable with online buying due to convenient payment choices, a variety of alternatives, return policies, affordable prices, quicker delivery time, and attractive discounts.

Digital Gold

You may invest in digital gold in five simple steps.

  • Go to a website that sells digital gold, such as PhonePe, HDFC Securities, or Paytm.
  • Enter the amount you want to invest in gold.
  • Pay the amount through debit card/ credit card, bank transfer NEFT, IMPS.
  • Save your payment receipt.
  • The gold you purchased will be secured in your name.
  • Every gram of digital gold you buy is backed by genuine 24-karat gold and connected to the current gold prices.
  • You can invest as little as Rs.10 in digital gold. While it provides optimum security, digital gold can also be transformed into physical gold if needed.

Sovereign Gold Bond

It is another best option to buy gold online. According to the Reserve Bank of India, this scheme can be used to replace physical gold. The bonds must be purchased in cash with no instalments, and they must be redeemed in currency when they reach maturity.

You will receive gold in grams for the purchase made in the form of a bond that ensures that interest payments are made regularly (at 2.5 per cent p.a.). One gram of gold is the minimum amount that can be invested, and four kilograms is the highest amount that can be put in SGB. The redeeming price will be determined in local currency. The bonds have a five-year lock-in period and a full term of eight years.

A gold bond is a fantastic choice for investors with a somewhat safe appetite, as it gives a guaranteed return on their investment as well as a semi-annual fixed interest rate.

Exchange Traded Funds (ETFs)

Physical gold can be replaced by a gold ETF. These ETFs allow you to keep your gold investment without owning any physical gold.

You can buy gold online through ETFs in a few simple steps.

  • Open a Demat account; most platforms allow you to open a Demat and trading account from the comfort of your own home.
  • Add your identification and address proof, such as a PAN card.
  • Choose a gold exchange-traded fund (ETF) and invest in it after you’ve set up a Demat account.
  • The units you purchased are credited to your Demat account.

One gold ETF unit is equal to one gram of gold, and the gold ETF’s value correlates to the current global gold price. As a result, as gold prices increase, the gold ETF’s value rises as well.

Gold Mutual Funds

Gold mutual funds make direct and indirect investing in gold reserves much easier. They typically invest in gold production, mining company stocks and distribution syndicate stocks. If you buy a gold fund, you’ll be investing in gold at the present rate. If the price of gold at the time of conversion is higher than the price at the time of investment, you’ve made gold gains.

Investing in gold ETFs is time-saving and straightforward. Demat accounts, internet platforms, and distributors are all options for investing.

  • If you decide to buy gold online from a reputable online site, you’ll have a wide range of options and be able to purchase at reasonable prices.
  • Since online competition is fierce, you’re more likely to find your favourite piece of jewellery or gold coin online than at a fair price shop.
  • You can be confident in the decision due to the service you will receive from online specialists when you decide to buy gold online. These online specialists will walk you through buying or deciding what to buy if you are unsure. You will feel more confident about your investment after the experts’ advice.
  • Online shopping is highly convenient and time-saving. You can make a quick shopping trip from the comfort of your own home in just a few minutes.
  • You have more time to pick what piece to buy when you shop online. You can browse various online stores before you decide what to invest in.
  • Customers can pay with a debit card or credit card, a bank transfer, or even bank wallets, thanks to the wide range of payment alternatives offered by online gold dealers.
  • You won’t be able to feel the metal, examine the actual design, or even do a trial to check if you buy gold online.
  • Many online websites promise to offer high-quality gold, but not all of them are real. As a result, you should conduct thorough research before purchasing gold online, as there is a great deal of danger involved, and you risk losing your money.
  • Some online websites restrict a particular amount, and in these circumstances, you can’t buy a lot of gold and must stick to the limit.
  • Because you have restricted options for customizing your gold jewellery, you must adhere to the available online design.
  • There is no option for cash on delivery, so the customers must pay in full before receiving their gold, which is OK as long as the online source is legitimate.

What are the Different Ways to Buy Gold Offline?

Gold Saving Schemes: These programmes are offered by jewellers across India. It’s the safest and the best option to buy gold offline because you can withdraw the money at any time if you choose to discontinue the scheme.

Gold Jewellery: The most straightforward way to invest in gold online or offline is to purchase physical gold in the form of fine jewellery such as earrings, necklaces, finger rings, chains, gold coins, gold bars and so on. Since physical gold can be easily redeemed in the market, it is one of the best ways to invest. You can also take out a loan against your gold jewellery in the event of an emergency.

  • When you consider to buy gold offline, you have the opportunity to establish a connection with the gold dealer in terms of your preferred gold style and budget.
  • You can customize your jewellery according to your preferences and budget.
  • Gold dealers would respect your relationship with their store and provide you more discounts than regular customers once you have shown to be a faithful high-value customer.
  • You can feel the metal and watch it gleam right in front of your eyes, and if it’s a piece of jewellery, you can wear it to see if it complements your face shape and skin tone.
  • If you decide to sell your jewellery, gold dealers will pay you a fair price because you are one of their most loyal customers.

What are the Disadvantages of Buying Gold Offline?

When going to a store to buy jewellery, there is always the possibility of being robbed. Since gold is a valuable metal, you must be highly cautious when transporting it.

There are minimal payment methods available; most dealers do not accept debit or credit cards, nor do they accept online payment methods. They prefer cash, which can be challenging to organise and risky to carry in significant numbers.

What are the Factors to Consider While Buying Gold?

You must understand the basics of gold before buying it, both online or offline, to avoid being misled and getting a good deal.

Current Gold Prices Per Gram

Gold prices are determined by the purity of the metal. It’s critical to remember that market prices vary regularly; as a result, always double-check rates before deciding to buy gold online or offline.

Go to a reliable website and look for gold prices to get an idea of what it costs. Though prices may slightly vary when compared to in-store expenses, the differences will be minimal. Make sure to check several websites to get the most accurate gold price. 

Gold Purity

Gold is available in several purity levels, such as 14K, 18K, 22K, and 24K. The purer it is, the more expensive it is and the higher the return value. Decide whether you want to invest in 14 carat, 18 carat, 22 carat, or 24-carat gold jewellery before buying it; the price varies depending on the purity. 24k gold isn’t suitable for making jewellery; it’s frequently combined with an alloy. This is why most gold jewellery is fashioned from 18K gold, 75% gold, or 22K gold (92%gold).

Here’s how you can determine the purity of gold:

The simplest way to check for purity is to look for a hallmark and a certificate, like any other investment, assures that the gold you bought is legitimate.

Check the Buy-Back Policy

Most stores have a repurchase policy that guarantees you will receive 100% of the price of your gold. You will nearly always gain twice as much if you sell when gold prices are high. If you ever need to sell the jewellery, you won’t have to worry about incurring losses as long as you have the buy-back policy certificate.

Get a Genuine Bill

Proof of purity, proof of actual ownership, and the right price of gold purchased will all be included on the gold bill. When buying gold, you must insist on getting a bill.  The invoice guarantees that you and your most valuable gold jewellery are always safe and secure.

Get to Know About Making Charges

The expense of changing raw gold into a beautiful piece of jewellery is known as making charges. Here’s what you should know: the price you pay includes both the gold’s quality and the skill of the professionals who designed the jewellery piece.

However, purchasing jewellery is not the same as buying groceries. Either you can buy gold online or offline, but it can raise issues unless you have good knowledge of this valuable metal.

Read More: The Price of Gold in Relation to the Stock Market


Is buying gold online safe?

Yes, as long as you know who you’re buying from, it’s perfectly safe. Before you buy, make sure you do a lot of research.

Is it profitable to buy gold online?

Yes, the price of gold is the same whether you buy it online or offline. Prices may vary slightly depending on the type of gold you’re buying and whether or not it includes manufacturing charges.

What is the most valuable gold?

24K is the purest 100 % gold and most expensive. The lower the karat number, the lower the price.

What is the most effective approach to purchasing gold online?

It is entirely dependent on the type of gold you wish to purchase. Please read the above article, which outlines the various types of gold that can be purchased online.

How can I be sure that the gold I bought is genuine?

By ensuring that you are purchasing from a reputable source, looking for the hallmark, and obtaining proof of purity.

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