Shopping tips for Dhanteras 2024: Start with a budget in mind, only buy from reputed jewellers

Dhanteras is a time when jewellers often provide special offers and discounts. Look for discounts, cashback, and loyalty rewards to reduce costs without compromising quality (Image: Canva)

Dhanteras marks the beginning of the Diwali festival. This year, this auspicious festival falls on October 29. The day is dedicated to Lord Dhanvantari, the god of health and well-being. Purchasing precious metals, especially gold and silver, is considered essential on this auspicious day to bring prosperity and good fortune.

While Dhanteras shopping is an integral part of tradition and culture, many might find the rising prices of gold and silver intimidating. If buying these metals is important to you, consider the following points before investing your hard-earned money:

• Know the market price beforehand: Stay informed about the latest gold and silver prices from reliable sources. This knowledge will help you determine whether the prices are justified and assist you in making a wiser purchase while avoiding high costs.

• Plan a budget: Before making any purchases, ensure that you have a clear budget to avoid overspending. Setting a spending limit helps you remain within your financial means, focusing on what you truly want while shopping and making the process intentional and focused.

• Only buy from reputed jewellers: Always purchase from reputable jewellers who provide a certificate of authenticity. This ensures that the metals you buy meet minimum purity standards, which is beneficial for both quality assurance and future resale purposes.

• Make the most of offers: Dhanteras is a time when jewellers often provide special offers and discounts. Look for discounts, cashback, and loyalty rewards to reduce costs without compromising quality. Nevertheless, be cautious of misleading offers.

• Negotiate making charges: During Dhanteras and Diwali, many jewellers are willing to negotiate on making charges. Don't hesitate to ask for discounts or waivers, as sometimes you may end up paying slightly more for the actual metal itself.

• Check for hallmarks: Make sure that the gold or silver you purchase is hallmarked. A hallmark verifies that the products meet official purity standards. This provides quality and also increases the resale value, as a hallmark signifies trust in the market.

• Consider the resale value: Before buying costly metals, always evaluate how easy it would be to resell the item and what its future value may be. Understanding market trends and the demand for certain types of jewellery will help you make a sound investment.

• Make small purchases: Buying smaller pieces provides investment flexibility and helps reduce costs. It also allows you to diversify your holdings, making it easier to sell individual pieces in the future, if necessary.

• Avoid rushing: Do not rush to make purchases in a hurry, especially when the environment is chaotic. Take your time to compare options, ensuring you're within budget and that you’ve acquired exactly what you wanted.