Gold may have increased more than Rs 10,000 in the last two years; but Indians, especially Indian women do love Gold (They buy it as an investment and never muster the courage to mortgage or sell them when needed :). That’s why even at Rs 31k per 10g, the gold retail market doesn’t feel it unwise to offer discounts for gold purchases this festival season.
To inform you, the banks and other financial institutions are selling the precious metal coins at up to 8 per cent lower prices than the prevailing market rates. For online purchases, the top private sector bank ICICI Bank is offering discount of 3-8 per cent on 24-carat gold coins of various denominations under its ‘Pure Gold’ offer. All an exisiting ICICI Bank Customer has to do is log-in to ICICI Bank Net Banking and complete the online formalities for ordering gold. The customer can get the Gold delivery at the selected branch the same day he/she orders the Gold Coin (by producing a valid ID proof).
The World Gold Council in partnership with India Post and Reliance Money is offering customers a special discount of 7 per cent on purchase of gold coins from India Post offices across India in the festive season.
Until December 31, customers can purchase 99.9 per cent pure, Swiss manufactured 24-carat gold coins in different denominations from over 1,100 identified India Post outlets across the country at 7 per cent lower prices.
Public Sector Banks like Punjab National Bank and Oriental Bank of Commerce are also giving 3-6 per cent on single physical purchase of a bunch of coins of any denomination by a single purchaser on a day.