5 things you must know before buying gold; best time to buy today

New Delhi, Oct 17: Indians are crazy for gold and if it happens to be Dhanteras, then the craze is multiplied manifold. Silver prices dropped by Rs 100 to Rs 41,400 per kg at the bullion market  due to reduced offtake by industrial units and weak global trends.Gold held steady at Rs 30,850 per 10 gram in scattered deals.

Here are the 10 things you should know before buying gold:

1. Some jewelers offer insurance for jewellery of Rs 50,000 and more. Ask the jeweler if he will give you insurance before buying large ticket items.

2.  Always buy gold hallmarked by Bureau of Indian Standards (BIS).

3.  If you want to invest in gold, buy gold coins. Or you could invest in gold ETFs or sovereign gold bond scheme.

4. Buy gold coins only from organised players. Do a few pricing checks before deciding to buy coins from a jeweler as they tend to overcharge.

5. After purchase, insist on a bill which tells you in detail about the price and value of gold and precious stones, if any, in the jewellery. The making charge will be indicated separately.