Gold bars are bought for auspicious occasions such as festivals, gifting, and events such as anniversaries and marriages. The demand for gold bars varies by season, with sales peaking on bright days like Dhanteras, Diwali, and Akshaya Tritiya.
Important things to know
Lower making charges
A gold biscuit is a good investment because it has a lower premium. Making charges, transportation, and refining fees, are normally included in the premium you pay. Since gold bars are substantially larger, economies of scale kick in, ensuring that you receive the most from your investment.
Weight options
Gold bars are available in different weights ranging from 0.5 g to 1 kg, with 5 g, 8 g, and 10 g bars most common. Before deciding, consider aspects such as your budget, investment, and liquidity objectives. Higher-weight bars are affordable to buy, while lighter bars are easier to liquidate on short notice.
Purity
When buying gold biscuit as an investment, purity is crucial. Make sure the bars are hallmarked before you buy them. This ensures that you get a good deal on your gold bar and puts you in a better position to sell it. Also, demand a purity certificate when making your purchase.
Storage
Gold biscuits are more difficult to store at home than coins as they have a larger value and cannot get liquidated immediately, making alternatives such as lockers a safer option. However, if you want to put them in a locker at home or the bank and do not have one, you need to pay for it.
Where to buy it?
It is worth your time and money to visit a few reputable sellers before making your buy, just as it is with gold coins. This is to ensure that you pay the lowest possible premium. This is especially true with gold bars because the amount you invest is bigger, and even a variation of 1% to 2% results in significant savings. You can also visit an online jewellery site to buy gold bars.
What makes them an attractive investment?
Gold bars are a rewarding investment option for those with minimum money to invest in a form that is both long-term and easy to dispose of. The following are some benefits of buying a gold biscuit:
- Making charges are negligible.
- Buy gold bars for your family's financial stability to turn them into jewellery or liquidate them during emergencies.
- Gold bars are easy to liquidate and sell, making them accessible to a range of investors.
Buying silver coin in different sizes and weight is also a great investment idea.
