Tomorrow, Friday November 6, is Dhanteras — the day India buys more gold than any other. Jewellers are ready. Be readier. The transaction-level checklist:
1. Verify the Hallmark — HUID or Walk
Insist on BIS-hallmarked jewellery carrying the HUID — a unique alphanumeric ID laser-engraved on each hallmarked piece. Ask the jeweller to show it under magnification, and verify it on the BIS Care app before paying. Hallmarking tells you the purity (22K/18K etc.) is certified, not claimed.
2. Demand the Full Invoice
A proper GST invoice stating: weight, purity/caratage, the day’s gold rate applied, making charges as a separate line, stone weights (if any) billed separately from gold weight, and GST. “Kachcha bill” savings today are buyback losses and dispute losses tomorrow.
3. Negotiate the Making Charges — It’s the Negotiable Line
The metal price is the market’s; the making charge is the jeweller’s — commonly ~8–25% on jewellery and the single most comparable number across shops. Percentage-of-value vs flat-per-gram matters too: ask for both quotes. Buying for wealth rather than wearing? Coins and bars carry minimal making charges — the full vehicle comparison here.
4. Read the Buyback Policy Before, Not After
Ask, in writing if possible: at what rate do you buy back — today’s price or a deduction? Making charges refundable in exchange? Stones valued how? The answers differ wildly between jewellers and define your real exit price.
5. Pay Traceably, Store Sensibly
Pay digitally for the paper trail. Store significant pieces in a locker, photograph them, keep invoices with the asset register you made during the financial Diwali cleaning — and remember documented gold also unlocks secured credit at fair terms if you ever need it.
And the Budget Rule Stands on Festival Eve
Buy from the festive pot, not the credit card’s revolving line — gold bought at 40% card interest is wealth-destruction in festive clothes. A token coin honours Dhanteras fully.
Shubh Dhanteras! 🪔
FundsTiger is an independent digital lending marketplace operated by Gatimaan Finance Advisors. Educational information, not investment advice; verify current hallmarking norms and jeweller policies.