Buying Gold This Dhanteras on November 6? A Pune Buyer’s Checklist: HUID Hallmark, Making Charges, GST and Jewellery vs Coins vs ETFs

Dhanteras falls on Friday, 6 November this year, and for many Pune families it means a trip to Laxmi Road, Ravivar Peth or the neighbourhood jeweller. Searches for gold as an investment, in English and Marathi, were rising in Maharashtra all through last week. Whether you are buying a coin for the puja or jewellery for a wedding, a few checks can save you a lot of money and trouble.

This article is for general information and is not investment advice. Gold prices change daily. Speak to a qualified financial adviser before making investment decisions.

1. Check the hallmark and HUID

Hallmarking is compulsory for gold jewellery sold in India. Every hallmarked piece should carry three marks:

• The BIS logo
• The purity in carats and fineness, such as 22K916 for 22 carat or 18K750 for 18 carat
• A six-character alphanumeric HUID (Hallmark Unique Identification) code

Download the free BIS Care app and use “Verify HUID” to check the code. It shows the jeweller’s details, the purity and the type of article. If the code does not match, do not buy.

2. Understand making charges

Making charges can turn a good price into a bad one. Jewellers charge them either as a flat amount per gram or as a percentage of the gold value, and they vary widely depending on the design, from simple chains to heavy temple jewellery. Ask for the making charge in writing before you choose, and compare at least two shops. Many Pune jewellers run Dhanteras and Padwa offers that cut making charges, which are often a better deal than a “discount” on the gold rate.

3. Ask for a proper GST bill

GST at 3% applies to gold. Insist on a computer-generated GST invoice that shows the weight, purity, gold rate, making charges, hallmarking charges and tax separately. You will need it if you exchange or sell the jewellery later. For cash purchases of Rs 2 lakh or more, the jeweller must take your PAN, and cash payments above the legal limits are not allowed.

4. Know what you are buying: options compared

Sovereign Gold Bonds, once a popular option, have not seen a fresh issue from the government since February 2024. Existing bonds trade on the stock exchange, but in limited volumes.

5. Old gold exchange

If you are exchanging old jewellery, ask the jeweller to test it in front of you, preferably with a karat-meter, and note the purity and weight on the bill. Expect deductions for impurities and stones. Hallmarked jewellery with a known HUID usually gets a fairer valuation.

Where Pune shops for gold

Laxmi Road and the surrounding peths remain Pune’s traditional gold market, with jewellers who have served families for generations. Large chain stores have showrooms in Kothrud, Aundh, Viman Nagar and Pimpri-Chinchwad. Wherever you go, avoid the rush in the evening of Dhanteras if you can. Read our guide to Diwali shopping in Pune’s markets, and for the stock market’s festive session, see our Muhurat trading 2026 explainer.

Frequently asked questions