7 Akshaya Tritiya Gold Buying Mistakes That Cost Lakhs

Every Akshaya Tritiya, Indian households leak around ₹4,000–20,000 per lakh spent, often without realizing it. Here are the seven mistakes I see every year.

1. Falling for "zero making charge" on old-stock jewelry. The discount is usually recovered via inflated wastage (6–10%) or by slotting a higher per-gram rate on the bill. Always verify per-gram rate matches the day's published city rate.

2. Not asking for the rate in writing before billing. Gold rate can be quoted orally, then a different rate printed on the final bill. Get the per-gram rate in writing before you commit.

3. Buying 22K as "investment". 22K designer jewelry at 18% making charge means ₹18,000 per lakh evaporates the moment you leave the store. For pure investment, buy 24K coins or SGB.

4. Ignoring HUID. Since April 2023 every hallmarked item in India must carry a 6-digit alphanumeric HUID. No HUID = not hallmarked = do not buy.

5. Skipping the purity test at buyback. Jewelers may claim your own gold is "20K" when you return to upgrade, knocking 10% off resale value. Ask for the XRF test in front of you.

6. Buying during peak hours on Akshaya Tritiya itself. Retailers have the weakest bargaining posture 2–5 days before the day, not on it. Advance booking at a pre-fixed rate is a legal workaround.

7. Overlooking GST on making charges. Many customers expect 3% GST on gold only. GST actually applies to the total invoice including making charges, always include this in your budget math. The planner on this site factors this in.

One more bonus: never buy gold on credit card for points. The 1.5–2% cashback doesn't cover the ₹1,000+ fee most card networks charge on gold/bullion transactions.