These days buying gold online has become increasingly popular. It is highly convenient and customers have a wide range of options available in the comfort of their homes.
Are you too planning to buy some gold online but your head is buzzing with questions? How to get started, which is the best platform, can I trust the seller or the gold quality?
Whether you are a seasoned investor or a first-time buyer, this guide is for you. Here we have answered all your questions on how to buy gold online in 2024 and addressed the complexities of gold investment to ensure you secure a valuable investment. Plus we have shared expert gold buying tips for you.
How Can You Trust the Seller? Reputation of the Seller Matters
The first step to buying gold online is to make sure your seller is authentic and will deliver good quality. Finding a reputable and trustworthy seller is paramount. To evaluate a seller’s reputation, start by researching their history. Look for information on how long they have been in the business, their market reviews and ratings. Also, ensure that their transactions are secure and safe.
Generally, a company with many years of experience is likely to be more reliable. A gold seller with good reviews and positive ratings from customers gives you the confidence to move ahead. We cannot just trust any reviewer, try to find independent review sites and forums. Consider the feedback regarding the quality of the gold, customer service, delivery times, and overall satisfaction before making any purchase.
Authenticity and Gold Purity- Understanding the Gold Purity Chart
Do you have a basic idea about the purity of gold? It is a must-to-know gold purity chart before making the purchase.
Gold purity is usually measured in karats, with 24-karat (24K) gold being the purest form of gold. But pure gold is often too soft for practical use, so it is alloyed with other metals to increase its strength. Other common gold purities include 22K, 18K, and 14K.
Why is 24K Gold the Best Choice?
24K gold is the closest you can get to pure gold, offering a vibrant colour. And due to its high purity, 24K gold typically retains its value better than lower-karat gold. Investors often prefer 24K gold for their long term investment plans.
To make informed decisions, refer to the gold purity chart we have curated for you. It illustrates different gold grades and displays the percentage of gold in various karat levels, helping you understand how pure your gold is.
Want to learn more about gold purity? Find a detailed guide on how to measure purity of gold here.
How to verify gold authenticity?
The reputable sellers provide certifications that verify the purity and authenticity of their gold. Look for these certifications from recognized authorities, such as the London Bullion Market Association (LBMA) or other respected certification bodies like the PAMP (Produits Artistiques Métaux Précieux) certificate.
It is a well-known Swiss refiner renowned for its high standards of quality. Gold bars and coins from PAMP come with certificates verifying their authenticity and purity. Also, there is a system called Hallmarking. When buying gold online, ensure that your gold comes with proper hallmarking and certifications.
You can learn more about PAMP-certified gold bars at Kanak Bullion here.
Seller Buy-Back Option as Part of Gold Saving Scheme
A buy-back option is an agreement where the seller commits to buy back the gold from you at a predetermined price or market value. This option provides liquidity and peace of mind. As you have an easy exit strategy ready when you need to sell your gold.
So, while buying gold it is advised to evaluate the seller’s buy-back policies and consider the terms and conditions. Go with the sellers who offer transparent and fair buy-back prices.
Some online sellers, like Kanak House Bullion, go a step further. They offer to buy back your gold bars at the same value you purchased them for, even if the market value drops. This means you won’t incur any loss if gold prices fall. It’s a part of their gold saving scheme designed to protect your investment*.
Transparent Pricing- Avoiding the Hidden Charges
Is your online gold seller transparent regarding prices? To get a fair deal watch out for any hidden costs and markups. A reputable seller will provide clear and detailed pricing information, including the price per gram or ounce, any applicable taxes, and additional fees. Read the fine print and understand all the costs including the shipping charges, insurance fees, and processing fees.
How to know if I am getting fair prices?
The best way to find out if you are making a fair deal is by comparing live gold prices. Start by checking the current market price of gold. Use this as a benchmark to evaluate the prices offered by different sellers. Be wary if some sellers are selling at significantly lower or higher prices than the market rate, they might have poor quality or hidden costs.
Sometimes, sellers may charge a premium above the market price. It’s important to determine whether this premium is justified. Check what additional benefits or services you receive in return for the higher cost. This could include enhanced customer support, better delivery options, or added value services like secure storage.
Quick and Secure Delivery Options
Delivery speed is a crucial factor to consider when buying gold online. Fast delivery not only ensures that you receive your gold promptly and securely but also puts our minds at ease about reliability.
When buying, carefully look for the following delivery options and policies:
- Trust the sellers who offer fast and reliable delivery, ideally within a few days.
- Ensure that the seller uses secure and insured shipping methods to protect your purchase.
- Opt for sellers who provide tracking information so you can monitor the status of your delivery.
- Is your seller providing insurance coverage for your shipment? In an online gold investment, make sure that you are compensated in case of loss or damage.
Long-Term Investment Strategies in Gold
Investing in gold online offers plenty of long-term investment strategies. These include purchasing physical gold, investing in gold ETFs (Exchange Traded Funds), or participating in gold saving schemes. Choose the one that suits your financial goals.
Some sellers also offer monthly gold saving schemes that allow investors to contribute a fixed amount each month. Wish to accumulate gold over time?– Pick any of these schemes. They are ideal for long-term investors.
Are you confused which is the best online gold selling company, as there are many choices available in the market? – Kanak House Bullion is #1 choice for online gold buyers across the world.
Why Buy Gold Online with Kanak House Bullion?
Our 12 Years of Expertise
Kanak House Bullion has been providing trustworthy gold investment options for the last 12 years. Our commitment to quality and service has earned us positive reviews and loyal customers.
A Wide Range of Gold Products
Whether you’re interested in gold bars, gold bullions, or gold cast bars, we have something for everyone. We offer gold products in various quantities, from 1 gram to 10 grams and even ounces, all with 999.9 purity.
The same variety applies to silver, platinum, and palladium. All these precious metals can be purchased with KHB, ensuring you find the perfect fit for your investment needs.
Guaranteed Purity and Authenticity
At Kanak House Bullion, we guarantee the purity and authenticity of our gold. All our products come with proper certifications and hallmarking. We offer a seller buy-back option for your convenience.
UAE-Based with a Solid Reputation Across All Emirates
We are a UAE-based company and have built a solid reputation for customer satisfaction over the years. Our monthly gold saving schemes in the UAE are particularly popular.
Safety and Insurance for Your Investment
When you buy gold from Kanak House Bullion, your gold comes with Insurance. We offer complete safety for your online payments. Your gold will be delivered at your doorstep with the fastest delivery channels with insurance.
Flexible Gold Saving Schemes
Do you know what a Gold Saving Scheme is? It is a systematic investment plan where you make regular monthly payments to purchase gold. Instead of buying a large amount of gold at once, you invest small amounts periodically. Over time, these contributions add up, and you receive gold in the form of bars or other products.
Our gold-saving plan starts from AED 445 per month only. We understand every investor is different and so are their demands and we have a good saving plan for all of you.
The Final Thoughts
Buying gold online is a highly rewarding investment option available at ease. You need to be aware of the complete procedure from evaluating the reputation of the seller to understanding gold purity, ensuring transparent pricing, and opting for reliable delivery options.
After going through our guide, now you are well equipped to choose a good online gold investment plan for yourself.
