Margin Reward : “Everything you need to know about Gold Buying, Selling, Business & Economics”

What is gold ?

Gold is a chemical element with the symbol Au and atomic number 79. It is a dense, soft, yellowish metal that is highly valued for its rarity, beauty, and usefulness in a variety of applications. Gold is one of the most popular and widely traded precious metals in the world, and it has been used as a form of currency and store of value for thousands of years. It is also used in jewelry, electronics, medicine, and many other industries.

Why people buy gold ?

People buy gold for a variety of reasons, including:

1. As a store of value: Gold is often considered a safe-haven asset and a hedge against inflation, economic uncertainty, and geopolitical risks. Many investors view gold as a long-term store of value that can help preserve wealth during times of market volatility.
2. As a portfolio diversifier: Gold has a low correlation with other asset classes, such as stocks and bonds, which makes it a useful portfolio diversifier. By adding gold to their portfolio, investors can potentially reduce their overall portfolio risk and volatility.
3. As a form of jewelry: Gold is widely used in the jewelry industry due to its durability, beauty, and timeless appeal. Many people buy gold jewelry as a fashion accessory or as a gift for special occasions.
4. As an industrial metal: Gold is used in a wide range of industrial applications, including electronics, dentistry, and aerospace. Some investors buy gold as a way to gain exposure to these industries.
5. As a cultural symbol: Gold has played an important role in many cultures throughout history and is often associated with wealth, power, and prestige. Some people buy gold as a way to express their cultural identity or as a status symbol.

Overall, people buy gold for a combination of financial, cultural, and personal reasons.

Who fix gold price in india ?

In India, the price of gold is determined by various factors including global gold prices, currency exchange rates, import duties, local taxes, demand and supply conditions, and other market forces. The price of gold is not fixed by any one entity or organization, but is influenced by a number of different players in the market.

That being said, the Indian Bullion and Jewellers Association (IBJA) is a prominent industry body that provides daily gold rates for various cities across India. The IBJA gold rates are widely used as a benchmark for gold prices in India, and are based on the prevailing market conditions in each city. The rates are updated on a daily basis and are widely used by jewelers, traders, and investors to make buying and selling decisions. However, it is important to note that the actual prices may vary depending on a number of factors such as the purity of the gold, the weight, and the location of the transaction.

How daily gold rates are calculated in India

The daily gold rates in India are calculated based on a number of factors, including the prevailing international gold prices, the currency exchange rates, import duties, local taxes, demand and supply conditions, and other market forces. The actual method for calculating gold rates may vary slightly depending on the source or organization providing the rates.

One of the most widely used methods for calculating gold rates in India is based on the international gold price, which is quoted in US dollars per troy ounce. The price is then converted into Indian rupees based on the prevailing exchange rate. The import duties, taxes, and other charges are added to the price to arrive at the final rate.

For example, if the international gold price is $1,800 per troy ounce and the exchange rate is Rs. 75 per dollar, the basic price of gold in Indian rupees would be Rs. 1,35,000 per 10 grams (1 troy ounce equals 31.1035 grams). However, additional charges such as import duties, local taxes, and other fees may be added to this price to arrive at the final rate.

It’s important to note that gold rates can vary from one city to another in India, and may also vary depending on the purity of the gold and other factors. The actual rates may be higher or lower than the quoted rates depending on the prevailing market conditions at the time of the transaction.

What will be the impact of gold price

The impact of gold price can vary depending on the context and the perspective of different stakeholders. Here are a few potential impacts of gold price:

1. Impact on investors: Changes in the price of gold can have a significant impact on investors who hold gold as an asset. When the price of gold rises, investors may see an increase in the value of their gold holdings. Conversely, when the price of gold falls, investors may experience a decline in the value of their gold holdings.
2. Impact on jewelers and the jewelry industry: Gold is widely used in the jewelry industry, and changes in the price of gold can have a direct impact on the cost of producing and selling gold jewelry. When the price of gold rises, jewelers may have to pay more for their raw materials, which can impact their profit margins. Conversely, when the price of gold falls, jewelers may see lower costs and higher profit margins.
3. Impact on gold producers and mining companies: The price of gold can have a significant impact on gold producers and mining companies, as it directly affects their revenue and profitability. When the price of gold is high, gold producers may see increased revenues and profits, which can lead to higher investment and expansion. Conversely, when the price of gold falls, gold producers may experience lower revenues and profits, which can impact their ability to invest in new projects and expansion.
4. Impact on the economy: Gold is often considered a safe-haven asset and a hedge against inflation and economic uncertainty. Changes in the price of gold can therefore have broader implications for the economy as a whole. When the price of gold is high, it can signal a lack of confidence in the economy and lead to increased demand for gold as a safe-haven asset. Conversely, when the price of gold falls, it can signal greater confidence in the economy and a decreased demand for gold as a safe-haven asset.

Overall, the impact of gold price can vary depending on the perspective of different stakeholders and the broader economic and market conditions.

How gold price is calculated while buying gold in india

When buying gold in India, the price of gold is calculated based on the prevailing market rates, which include the international gold price, import duties, local taxes, and other charges. The actual price may vary depending on the purity of the gold, the weight, and the location of the transaction.

Here is a general overview of how the gold price is calculated while buying gold in India:

1. Determine the purity and weight of the gold: Gold is typically sold in various forms such as bars, coins, and jewelry. The purity of gold is measured in karats, with 24 karat gold being the purest form. The weight of gold is usually measured in grams.
2. Check the prevailing gold rates: The gold rates in India are determined by a number of factors, including the international gold price, currency exchange rates, import duties, and local taxes. The actual gold rates may vary from one city to another and may be updated on a daily basis.
3. Add the making charges: When buying gold jewelry, the price also includes the making charges, which is the cost of the labor and craftsmanship involved in creating the jewelry piece.
4. Add the applicable taxes: Depending on the state and the type of transaction, local taxes such as GST (Goods and Services Tax) or VAT (Value Added Tax) may be applicable on the purchase of gold. These taxes are added to the final price of gold.

The final price of gold is the sum of the prevailing gold rates, making charges, and applicable taxes. It’s important to note that the actual price may vary depending on the market conditions and the location of the transaction. It’s also recommended to compare prices from multiple vendors and negotiate the price to get the best value for your money.

What is the formula used to calculate final gold price including making charges & gst while buying gold in india

The price of gold in India is calculated based on a variety of factors including the international price of gold, currency exchange rates, making charges, and applicable taxes such as GST. The formula to calculate the final gold price including making charges and GST is as follows:

Final Gold Price = (Price of 22 Karat or 24 Karat Gold per gram + Making Charges per gram) * Total weight of gold purchased + GST (currently 3%)

Here, the price of gold is usually quoted per gram, and making charges are added to cover the cost of designing and manufacturing the jewelry. The making charges can vary depending on the design and complexity of the jewelry. The total weight of gold purchased is calculated based on the weight of the gold jewelry, which includes any stones or other embellishments. Finally, the applicable GST is added to the total cost of the gold purchase.

It’s important to note that the price of gold in India can vary depending on various factors like location, purity of gold, and market demand. It’s always recommended to check the current price of gold and other applicable charges with a trusted jeweler before making a purchase.

What you need to see mainly while buying gold in india

If you are planning to buy gold in India, here are some key factors to consider:

1. Purity of Gold: The purity of gold is measured in Karats, with 24 Karat gold being the purest form. While buying gold, ensure that the jewelry is hallmarked by the Bureau of Indian Standards (BIS). Hallmarked jewelry guarantees the purity of gold in the jewelry.
2. Current Price: The price of gold varies every day due to market fluctuations. Check the current market price of gold to ensure you are paying the right price for your purchase.
3. Making Charges: Making charges are the cost of labor and craftsmanship involved in making the jewelry. It’s important to check the making charges and ensure that they are reasonable and within the range prevalent in the market.
4. Reputation of the Jeweler: Buy gold from a reputable and established jeweler to ensure that you get quality jewelry and a fair deal.
5. Certification and Receipt: Ask for a certificate of authenticity and a proper bill or receipt for the purchase. This will help you in case of any disputes or for future reference.

By keeping these factors in mind, you can make an informed decision while buying gold in India.

What more can be seen apart from above listed items

In addition to the factors listed above, there are a few more things you can consider while buying gold in India:

1. Design and Style: Gold jewelry comes in a variety of designs and styles. You can choose from traditional to contemporary designs based on your preference. While considering the design, also check the durability of the jewelry and the type of clasp or fastening used.
2. Weight and Size: The weight and size of the jewelry affect the price of the gold. Check the weight and size of the jewelry to ensure that you are getting what you paid for.
3. Return and Exchange Policy: Ask the jeweler about their return and exchange policy in case you want to return or exchange the jewelry for any reason.
4. Storage and Security: Gold is a valuable asset, and it’s important to store it securely. Check with the jeweler about the storage options available and any additional security measures that can be taken.

By considering these additional factors, you can make a well-informed decision while buying gold in India.

Still more if any like insurance

Yes, insurance is also an important consideration while buying gold in India. Gold jewelry is a valuable asset, and it’s important to insure it against theft or loss. Many jewelers offer insurance options for the jewelry they sell, so it’s a good idea to check with them about the insurance coverage and premiums.

Alternatively, you can also purchase a separate insurance policy for your gold jewelry from an insurance company. The insurance premium would depend on the value of the jewelry and the coverage offered. You can also check if your existing home insurance policy covers your gold jewelry, as some policies may offer coverage for valuables like jewelry.

Having insurance for your gold jewelry provides peace of mind and financial protection in case of any unexpected loss or theft.

Any other things if you remember is required to check while buying gold

Yes, there are a few more things to consider while buying gold in India:

1. Mode of Payment: Check the available modes of payment accepted by the jeweler. It’s always better to use a secure payment mode like credit card, debit card, or online bank transfer, which can be easily traced and provide a record of the transaction.
2. Warranties and Guarantees: Ask the jeweler about any warranties or guarantees that come with the jewelry. Some jewelers offer lifetime warranties or free maintenance services for the jewelry they sell.
3. Market Trends: Keep yourself updated with the current market trends for gold. This can help you make informed decisions about when to buy or sell your gold.
4. Personal Preference: Lastly, consider your personal preference while buying gold jewelry. Buy what you like and what suits your style, rather than just following trends or buying for the sake of investment.

By considering these additional factors, you can ensure that you make a well-informed and satisfactory purchase of gold jewelry in India.

Where you to buy gold from in india

As an AI language model, I don’t have personal preferences, but I can suggest a few options for buying gold in India:

1. Jewelers: You can buy gold jewelry from reputed and established jewelers in your city or town. Some of the well-known jewelers in India include Tanishq, Kalyan Jewellers, Malabar Gold and Diamonds, and Joyalukkas, among others.
2. Online Retailers: You can also buy gold jewelry online from trusted e-commerce platforms like Amazon, Flipkart, and Tata Cliq, among others. Many jewelers also have their own e-commerce websites where you can buy their jewelry online.
3. Banks: Several banks in India also sell gold coins and bars. You can buy gold coins or bars from banks like HDFC Bank, ICICI Bank, and Axis Bank, among others.
4. Government Outlets: The government of India also has its own outlets where you can buy gold coins and bars. These include outlets operated by the State Bank of India (SBI), MMTC, and other government-run organizations.

When buying gold, it’s important to buy from a trusted and established source to ensure that you get authentic and quality jewelry.

When is the better time to exchange the gold for money apart from any emergency in india

The best time to exchange gold for money in India depends on the current market conditions and the price of gold. Gold prices in India are influenced by various factors like global market trends, economic conditions, and currency exchange rates, among others.

It’s always a good idea to keep track of the current gold prices and monitor the market trends to identify the best time to sell your gold. In general, the best time to sell gold is when the market prices are high and the demand for gold is also high.

However, it’s important to keep in mind that gold is a long-term investment and should not be treated as a short-term trading option. It’s advisable to hold on to your gold investments for a longer period to realize their full potential.

In summary, the best time to exchange gold for money in India is when the market prices are high and the demand for gold is high, but it’s important to keep a long-term investment perspective and not treat gold as a short-term trading option.

What are gold coins in india

Gold coins are small discs made of gold that are used as a form of investment or gift in India. They are available in different sizes, ranging from 0.5 grams to 100 grams or more, and are usually made of 24 karat gold, which is considered the purest form of gold.

Gold coins are minted by government-run organizations like the MMTC (Metals and Minerals Trading Corporation of India) and private sector companies like Tanishq, PC Jewellers, and others. They are sold through banks, jewellers, and other authorized dealers across India.

Gold coins are a popular investment option in India, as they are considered a safe investment and can be easily traded or sold in the market. They are also a popular gift option for weddings, festivals, and other occasions.

It’s important to buy gold coins from trusted and authorized dealers to ensure that you get authentic and quality products. It’s also advisable to keep the purchase invoice and other documents safely for future reference.

Pro & Cons of buying Gold coins

Like any investment option, buying gold coins in India has its pros and cons. Here are some of the pros and cons of buying gold coins:

Pros:

1. Safe Investment: Gold is considered a safe investment option as it is not affected by inflation, currency fluctuations, or economic instability, making it a reliable investment choice.
2. High Liquidity: Gold coins are highly liquid, meaning they can be easily bought or sold in the market without any significant loss in value.
3. Easy to Store: Gold coins are compact and easy to store, which makes them a convenient investment option.
4. Diversification: Gold coins offer diversification to your investment portfolio, which can help mitigate risk and balance out the overall portfolio.
5. Gifting Option: Gold coins are also a popular gifting option for various occasions in India.

Cons:

1. Cost of Making: Gold coins have a cost of making, which is added to the overall price of the coin. This cost can vary based on the size, design, and purity of the gold coin.
2. No Interest: Gold coins do not generate any interest or dividends, which means they are not an income-generating investment option.
3. Price Volatility: The price of gold is volatile and can fluctuate depending on market conditions, which can impact the value of your investment.
4. Security Risk: Gold coins need to be stored safely, which can pose a security risk if not stored properly.

In summary, buying gold coins can be a safe and reliable investment option with high liquidity, easy storage, and diversification benefits. However, they do have a cost of making, no interest earnings, price volatility, and a security risk, which need to be taken into consideration while making an investment decision.

Formula on ROI on Gold coins or Gold biscuit considering making charges & taxes while buying gold

To calculate the return on investment (ROI) on gold coins or gold biscuits in India, the following formula can be used:

ROI = (Selling Price – Buying Price) / Buying Price * 100

Here, the selling price is the current market price of gold, and the buying price is the total cost of buying the gold coin or gold biscuit, which includes the cost of gold, making charges, and applicable taxes (like GST).

To calculate the total cost of buying gold, the following formula can be used:

Total Cost of Buying = (Price of Gold per gram * Weight of Gold) + Making Charges + Applicable Taxes

Making charges and applicable taxes can vary depending on the seller and the state in which the purchase is made. For example, the making charges can range from 5% to 20%, while the GST on gold is currently at 3%.

Once you have calculated the total cost of buying and selling price of the gold, you can use the ROI formula to calculate the return on investment.

It’s important to note that gold investments are a long-term investment, and ROI can vary depending on various factors like market conditions, inflation, and other economic factors.

Formula on ROI on Gold ornaments considering making charges & taxes while buying gold – This can be used to plan purchase & sell

The return on investment (ROI) on gold ornaments is subject to market conditions and fluctuations in gold prices, as well as the making charges and taxes associated with the purchase. However, you can use the following formula to calculate the potential ROI on gold ornaments:

ROI = (Selling Price – Total Buying Cost) / Total Buying Cost * 100

Here, the selling price is the current market price of the gold, and the total buying cost is the total cost of purchasing the gold ornament, including the cost of gold, making charges, and applicable taxes.

For example, if you purchase a gold necklace for Rs. 1,00,000, including making charges and taxes, and sell it when the market price of gold has increased, say to Rs. 1,20,000, your potential ROI would be:

ROI = (1,20,000 – 1,00,000) / 1,00,000 * 100 = 20%

So, in this case, your potential ROI on the gold necklace would be 20%.

It’s important to note that the ROI on gold investments can vary depending on market conditions and other economic factors, and past performance is not a guarantee of future returns.

Give one example on rupees 5000 ROI on Gold ornaments considering making charges & taxes while buying gold

Calculating the ROI on gold ornaments can be a bit tricky as the making charges and taxes can vary depending on various factors such as the type of ornament, the purity of gold, and the jeweler’s pricing policy. However, I can provide an example assuming some hypothetical values for the making charges and taxes.

Let’s assume that you purchase a gold necklace for Rs. 50,000, including making charges of Rs. 5,000 and applicable taxes of Rs. 3,000. So the actual cost of the gold in the necklace is Rs. 42,000 (50,000 – 5,000 – 3,000).

Now, let’s assume that the price of gold increases by 10% after some time, and you decide to sell the necklace. So the market value of the necklace would be Rs. 55,000 (50,000 * 1.1).

To calculate the ROI on the gold necklace, we can use the following formula:

ROI = (Market Value of Gold – Actual Cost of Gold) / Actual Cost of Gold * 100

Applying this formula to our example, we get:

ROI = (55,000 – 42,000) / 42,000 * 100 ROI = 30.95%

So, in this example, the ROI on the gold necklace would be approximately 30.95%. This means that you would earn a profit of approximately Rs. 5,000 (30.95% of Rs. 42,000) if you sell the necklace at the market value of Rs. 55,000 after the price of gold increases by 10%.

Here are some unique business ideas related to physical gold that you can consider:

Gold buying and selling: You can start a business of buying and selling physical gold. This can include buying gold coins, bars, and jewelry from individuals or wholesalers and selling them to interested buyers. You can set up a physical store or an online platform to sell your products.

Gold storage services: You can start a business of providing safe and secure storage solutions for physical gold. This can include offering storage lockers or vaults for individuals or businesses who want to store their gold securely.

More details on this business idea Gold buying and selling

The business of buying and selling physical gold involves buying gold in various forms such as coins, bars, or jewelry, and then selling it to interested buyers at a higher price. Here are some more details on this business idea:

1. Sourcing gold: You can source gold from a variety of sources such as wholesalers, pawnshops, or individuals. You can buy gold in various forms such as coins, bars, and jewelry. It is important to ensure that the gold you buy is genuine and of good quality.
2. Setting up a store: You can set up a physical store where you can display your gold products and sell them to interested buyers. It is important to ensure that your store is secure and has the necessary equipment to test the purity of gold.
3. Online selling: You can also set up an online platform to sell your gold products. This can include setting up a website or listing your products on popular online marketplaces such as Amazon or eBay.
4. Pricing: The price at which you sell gold can vary depending on various factors such as the current market price of gold, the purity of gold, and the demand for gold in your area. It is important to keep track of the market prices and set prices that are competitive and fair.
5. Marketing: Marketing your gold buying and selling business is crucial to attract customers. You can use various marketing techniques such as social media marketing, email marketing, and offline advertising to promote your business.
6. Compliance: It is important to comply with all the necessary regulations and laws related to buying and selling gold in your area. This can include obtaining the necessary licenses and permits and following the necessary reporting and record-keeping requirements.

Overall, the business of buying and selling physical gold can be profitable if done correctly. It is important to have a good understanding of the market, the products, and the regulations related to this business.

More details on business idea Gold storage services – Getting locker in bank is bit challenging now a days

The business of providing safe and secure storage solutions for physical gold involves offering storage lockers or vaults for individuals or businesses who want to store their gold securely. Here are some more details on this business idea:

1. Facility setup: You would need to set up a facility that can provide safe and secure storage solutions for physical gold. This can include setting up a vault or lockers that are equipped with advanced security features such as surveillance cameras, alarms, and biometric access controls.
2. Insurance and compliance: It is important to obtain the necessary insurance coverage to protect the stored gold against theft, damage, or loss. You would also need to comply with all the necessary regulations and laws related to storing gold in your area.
3. Marketing: Marketing your gold storage services is crucial to attract customers. You can use various marketing techniques such as social media marketing, email marketing, and offline advertising to promote your business.
4. Pricing: The price at which you offer your storage services can vary depending on various factors such as the amount of gold stored, the duration of storage, and the security features offered. It is important to set prices that are competitive and fair.
5. Customer service: Providing excellent customer service is crucial to retain customers and build a good reputation for your business. This can include providing 24/7 access to the storage facility, prompt response to customer queries, and regular updates on the security of the stored gold.
6. Partnership with other businesses: You can also consider partnering with other businesses such as jewelry stores or gold dealers to offer storage services for their customers. This can help you reach a wider customer base and generate more revenue.

Overall, the business of providing safe and secure storage solutions for physical gold can be a lucrative opportunity if done correctly. It is important to have a good understanding of the security features, regulations, and customer needs related to this business.

Types of physical gold investments in india

There are several types of physical gold investments that one can make in India. Here are some of the most common types:

1. Gold coins and bars: One can purchase gold coins or bars of various weights from banks, jewelers, or bullion dealers. These can be bought as an investment or as a gift. The purity of gold coins and bars is generally 24 karats.
2. Gold jewelry: Gold jewelry is a popular investment choice in India, as it can be used for both adornment and as an investment. Gold jewelry is available in various karats, ranging from 18 karat to 22 karat.
3. Gold ETFs: Gold Exchange Traded Funds (ETFs) are a type of mutual fund that invests in physical gold. These can be traded on the stock exchange and provide an easy way to invest in gold without having to take physical delivery of the metal.
4. Sovereign Gold Bonds (SGBs): SGBs are issued by the government of India and are denominated in grams of gold. These bonds are backed by physical gold and offer a fixed rate of interest. SGBs can be purchased through banks or designated post offices.
5. Gold futures: Gold futures are contracts that allow investors to buy or sell a specified quantity of gold at a future date. These contracts are traded on commodity exchanges and can be used for hedging or speculation purposes.
6. Gold deposit schemes: Banks in India offer gold deposit schemes where customers can deposit their gold in exchange for a fixed interest rate. These schemes are similar to fixed deposits and provide a way to earn interest on gold investments.

Overall, there are several types of physical gold investments available in India, each with its own advantages and risks. It is important to understand the pros and cons of each type and choose the one that best fits your investment goals and risk appetite.

Here is a financial plan for gold investment:

1. Set a budget: Determine how much you can afford to invest in gold. This can be a lump sum amount or a monthly budget for regular investments.
2. Choose the type of gold investment: Decide which type of gold investment you want to make, such as physical gold (coins, bars, jewelry), gold ETFs, gold futures, or sovereign gold bonds.
3. Research: Conduct thorough research on the chosen investment option to understand the risks, benefits, and historical performance.
4. Determine investment duration: Decide on the duration of the investment, whether it is short-term (less than a year), medium-term (1-3 years), or long-term (more than 3 years).
5. Decide on the investment amount: Based on the budget and investment duration, decide on the amount to be invested. It is recommended to start with a small amount and gradually increase the investment as you gain more knowledge and experience.
6. Choose a reliable provider: Select a reliable provider for the chosen investment option, such as a trusted jeweler, bank, or brokerage firm.
7. Monitor the investment: Keep track of the performance of the investment and make necessary adjustments based on the market conditions and investment goals.
8. Rebalance the portfolio: If you have multiple investments in your portfolio, periodically rebalance it to ensure that the allocation is aligned with your investment goals and risk tolerance.
9. Review the plan periodically: Review the financial plan periodically to ensure that it is aligned with your changing financial goals and circumstances.

Remember that investing in gold carries risks, and it is important to diversify your portfolio and seek professional advice before making any investment decisions.

Which business provide dealership to sell gold in india

There are several businesses in India that provide dealership opportunities to sell gold. Some of the popular options include:

1. Jewellery manufacturers: Many jewellery manufacturers in India offer dealership opportunities for their gold jewellery products. These manufacturers often have their own retail outlets and also supply to other jewellery stores.
2. Bullion dealers: Bullion dealers specialize in selling gold coins and bars, and often provide dealership opportunities to interested individuals or businesses. These dealers may offer branded or non-branded gold products.
3. Banks: Some banks in India, such as HDFC Bank and ICICI Bank, offer gold dealership opportunities to individuals or businesses. These banks typically provide gold coins or bars for sale, along with the necessary support services.
4. Online platforms: Several online platforms, such as Amazon, Flipkart, and Paytm, offer gold dealership opportunities to interested individuals or businesses. These platforms provide a wide range of gold products and also handle the logistics of delivering the products to customers.

When considering a dealership opportunity, it is important to carefully evaluate the terms and conditions, such as the initial investment required, the profit margins, and the marketing support provided. It is also recommended to conduct thorough research on the reputation and track record of the business provider before making any commitments.

More dealership option from retail brands

Yes, many retail brands in India also offer dealership opportunities for selling gold jewellery. Some of the popular retail brands in India that provide such opportunities include Tanishq, Kalyan Jewellers, Malabar Gold & Diamonds, Joyalukkas, and Senco Gold & Diamonds, among others.

To become a dealer for these brands, you will typically need to meet certain requirements, such as having a physical store, meeting certain financial criteria, and having experience in the jewellery or retail industry. The process for becoming a dealer may vary depending on the brand and location, and may involve submitting an application, undergoing a selection process, and signing a dealership agreement.

As with any dealership opportunity, it is important to carefully evaluate the terms and conditions, such as the investment required, the profit margins, and the support provided by the brand. It is also recommended to conduct thorough research on the reputation and track record of the brand before making any commitments.

How to apply for dealership from Tanishq and malabar golds

To apply for a dealership from Tanishq or Malabar Gold & Diamonds, you can follow these general steps:

1. Visit the official website of the brand you are interested in and look for the “Franchise” or “Dealership” section. You may also find information about dealership opportunities on their social media pages or by contacting their customer service.
2. Fill out the dealership application form provided by the brand. You may need to provide information about your business, financial background, and experience in the jewellery or retail industry.
3. Submit the application form along with any supporting documents requested by the brand, such as your business license, tax registration, and financial statements.
4. Wait for a response from the brand. The response time may vary depending on the brand and location, but it typically takes a few weeks to a few months to hear back.
5. If your application is approved, the brand will provide you with the dealership agreement and any other relevant documents. You may need to pay an initial fee and provide a security deposit.
6. Once you sign the dealership agreement and complete any training or orientation provided by the brand, you can start selling their products through your store or outlet.

It is important to note that the application process and requirements may vary depending on the brand and location. It is recommended to carefully review the terms and conditions of the dealership agreement before signing it, and to seek legal and financial advice if necessary.

What licence is required to sell gold in india

To sell gold in India, you will typically need to obtain a few licenses and registrations depending on the type of business you plan to run. Here are some of the commonly required licenses:

1. Business Registration: You will need to register your business with the Registrar of Companies (ROC) or the Registrar of Firms and Societies, depending on the type of business entity you plan to operate.
2. GST Registration: If your annual turnover is above the threshold limit set by the government, you will need to register for Goods and Services Tax (GST).
3. PAN Card: You will need to obtain a Permanent Account Number (PAN) card from the Income Tax Department.
4. Import-Export License: If you plan to import or export gold, you will need to obtain an Import-Export Code (IEC) from the Directorate General of Foreign Trade (DGFT).
5. BIS Certification: If you plan to sell gold jewellery, you will need to obtain a certification from the Bureau of Indian Standards (BIS).
6. Shop and Establishment Registration: If you plan to open a physical store, you will need to register your shop or establishment with the local municipal corporation.

It is important to note that the specific licenses and registrations required may vary depending on the state and city where you plan to operate your business. It is recommended to consult with a local business consultant or legal advisor to ensure that you have obtained all the necessary licenses and registrations to sell gold in India.

Is buying gold good investment

Whether buying gold is a good investment or not depends on various factors such as the current market conditions, individual financial goals, and risk appetite. Here are some potential benefits and drawbacks of investing in gold:

Benefits:

• Historically, gold has been considered a safe-haven asset that can act as a hedge against inflation and market volatility.
• Gold has a universal value and is accepted globally, making it a liquid asset.
• Gold is a tangible asset that can be held physically, unlike other financial assets like stocks or bonds.
• Gold investments can diversify a portfolio and reduce overall risk.

Drawbacks:

• The price of gold is subject to market fluctuations and can be volatile.
• Unlike stocks or bonds, gold does not generate any income or dividends.
• The cost of storing and insuring physical gold can add to the overall investment costs.
• Gold may not provide significant returns over the long-term, compared to other investments like stocks or real estate.

Overall, buying gold can be a good investment option for some investors, especially as a part of a diversified portfolio. However, it is important to carefully consider the potential benefits and drawbacks of investing in gold, and to consult with a financial advisor before making any investment decisions.

Can I trade gold to foreign countries from india

Yes, you can trade gold to foreign countries from India, subject to certain rules and regulations. The Reserve Bank of India (RBI) regulates the import and export of gold in India, and there are specific guidelines that need to be followed.

If you want to export gold from India, you will need to obtain a license from the Directorate General of Foreign Trade (DGFT) and follow the guidelines and regulations set by the RBI. The exported gold needs to be in the form of bullion, coins, or medallions, and the exporter needs to comply with the restrictions on the quantity of gold that can be exported.

Similarly, if you want to import gold into India, you will need to obtain an import license from the DGFT and comply with the RBI’s guidelines and regulations. The imported gold needs to be in the form of bullion or coins and needs to be accompanied by a certificate of origin.

It is important to note that the rules and regulations related to the import and export of gold can change, and it is recommended to consult with a customs broker or an import-export consultant to ensure that you are complying with all the applicable regulations.

Things to consider before investing into physical gold

Before investing in physical gold, here are some important things to consider:

1. Purpose: Determine the purpose of investing in gold. Is it for long-term investment, short-term gain, or as a hedge against inflation?
2. Budget: Decide on the budget for investing in gold. The budget will determine the amount of gold that can be purchased.
3. Form of gold: Decide on the form of gold to invest in, such as coins, bars, or jewelry. Each form has its pros and cons, and the choice may depend on personal preference, budget, and investment objectives.
4. Purity: Ensure that the gold purchased is of high purity, ideally 24 karat, to ensure that it is a good store of value.
5. Making charges: Consider the making charges when buying gold jewelry. Making charges are the costs of making the jewelry and can add significantly to the price of gold.
6. Taxes: Understand the taxes and duties applicable when buying and selling gold in India. Taxes can significantly impact the return on investment.
7. Storage: Decide on how and where to store the physical gold. Gold needs to be stored securely to protect it from theft or damage.
8. Liquidity: Consider the liquidity of the investment. Physical gold can be less liquid than other investments like stocks or bonds, and it may take longer to sell and realize the investment.

By considering these factors, investors can make informed decisions when investing in physical gold. It is important to consult with a financial advisor before making any investment decisions.

How to daily earn something from gold investment

It is not possible to earn daily returns from gold investment, as gold is a long-term investment asset. Gold prices can fluctuate on a daily basis based on various factors such as geopolitical events, economic data, and currency fluctuations. However, there are a few ways to potentially earn returns from gold investment over the long term:

1. Buy and hold: Buy physical gold in the form of coins, bars, or jewelry and hold on to it for the long term. Over the years, the value of gold has historically appreciated, providing long-term returns.
2. Gold ETFs: Invest in gold exchange-traded funds (ETFs) that track the price of gold. These funds can be bought and sold on the stock exchange and provide an opportunity to invest in gold with lower transaction costs and ease of liquidity.
3. Gold mutual funds: Invest in gold mutual funds that invest in the shares of companies engaged in the gold mining industry. These funds provide exposure to the gold industry without having to invest directly in physical gold.

It is important to note that any investment involves risks, and investors should consult with a financial advisor before making any investment decisions.

What are gold startup competition who are looking for startups with respect to god

There are several gold startup competitions that are open to startups in the gold industry. Some of them include:

1. Dubai Gold & Jewellery Group Startup Competition: This competition is aimed at startups that are developing innovative products or services in the gold and jewelry industry. The competition provides startups with a platform to showcase their ideas and get feedback from industry experts.
2. Gold Rush Challenge: This is a startup competition organized by the World Gold Council. The competition is aimed at startups that are developing new and innovative uses for gold, beyond its traditional uses in jewelry and investment.
3. Perth Mint Startup Challenge: This competition is aimed at startups that are developing new and innovative products or services in the precious metals industry. The competition provides startups with access to funding, mentorship, and business support services.
4. London Bullion Market Association (LBMA) Innovation Challenge: This is a startup competition organized by the LBMA. The competition is aimed at startups that are developing new and innovative products or services in the precious metals industry.
5. Goldcorp Challenge: This competition is aimed at startups that are developing innovative solutions to address some of the challenges faced by the mining industry. While it is not specifically focused on gold, many of the solutions developed by startups could have applications in the gold mining industry.

These competitions provide startups with a platform to showcase their ideas, get feedback from industry experts, and potentially access funding and business support services

What are gold startup competition who are looking for startups with specific to gold industry in india

There are several startup competitions in India that focus on the gold industry. Here are a few examples:

1. Gold Spot: This is a startup accelerator program for startups focused on gold-related technology and innovation. The program provides mentorship, funding, and access to industry partners.
2. World Gold Council India: The World Gold Council India runs an innovation challenge called “Re-Imagine Gold.” This competition invites startups to submit innovative ideas that address the challenges faced by the gold industry.
3. Gems and Jewellery Export Promotion Council (GJEPC): The GJEPC runs an annual startup competition called “Jewellery Startup Summit.” This competition is aimed at promoting innovation in the jewelry industry, including the use of new technologies and business models.
4. Indian Angel Network (IAN): The IAN is a network of angel investors that provides funding and mentorship to early-stage startups. The network has invested in several startups focused on the gold industry.

These are just a few examples of startup competitions in India focused on the gold industry. There may be other competitions and accelerator programs available as well.