Buying gold jewellery? Don’t forget to do this, else you may invite trouble – All details here

Buying gold jewellery? Don’t forget to do this, else you may invite trouble – All details here

It’s a very important news for those buying or planning to buy gold jewellery in future! According to a latest development, if you are buying gold jewellery, don’t forget take PAN card with you for KYC purposes, else you may invite trouble. As per details available, jewellery shop owners will ask you for photo id proof and PAN card details, if you are buying gold jewellery.

Earlier, the KYC, PAN and photo ID rule was applicable to jewellery over Rs 2 lakhs only. 

Giving PAN details for gold purchase was made mandatory by Centre for transactions valued at Rs.2 lakhs and above.

Meanwhile, Gold in the national capital plunged Rs 714 to Rs 50,335 per 10 gram on Thursday, reflecting a decline in global precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 51,049 per 10 gram.

Silver also dipped by Rs 386 to Rs 69,708 per kilogram from Rs 70,094 per kilogram in the previous trade.

In the international market, gold was quoting lower at USD 1,916 per ounce, and silver was flat at USD 27.07 per ounce.

In another development related to the yellow metal, Gold worth Rs 67 lakh was seized from two passengers at the Mangaluru international airport, officials of the Directorate of Revenue Intelligence (DRI) said on Wednesday. The two passengers, who had arrived here from Dubai on Tuesday, were stopped and checked based on a tip-off, a DRI press release said. One of the passengers from Bhatkal in Karnataka had concealed five balls containing gold paste wrapped in adhesive tape in his rectum, the release said. The balls yielded 641.41 gm of gold, it said. The other passenger belonging to Kasaragod in Kerala was found concealing gold in paste form in his underwear with a special pouch, the release said.

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