Gold, the precious yellow metal can be a very good source for your business. There are many gold business ideas and opportunities that can help you make good profit and earn good money.
Needless to say, before getting into any type of gold business, you should have a sound knowledge of gold. This includes its properties, price and its fluctuations over time, its availability etc.
Gold business ideas are not just limited to making jewelry, coins or bars. Actually, there are many other business ideas related to gold.
Do a good research on the potential and demand of the gold business idea you want to start. This will help you maximize your profits as quickly as possible.
Gold Business Ideas
Are you looking for ideas to invest in gold related business but didn’t get any idea? Then this article is made for you. We’ve researched 29 amazing gold business ideas and opportunities.
List of 27 Gold Business Ideas
Gold Jewelery Shop
Gold jewelry store is a profitable retail business. You can start this business according to your investment potential. Nevertheless, if you do not have enough funds to start the operation, you can opt for a specific level. No matter how small your store is, try to win customers and build a brand. Also, you can choose a franchise to expand your business.
Gold jewelry is always in demand no matter how high its price. So you can open a gold jewelry shop and earn very good profits. Good ideas about jewelry and trending designs are very important for this business.
You will also need a good location, high capital, effective marketing and promotion for your jewelry store. Taking the franchise of a reputed chain is also a good option to start with.
Gold Plated Jewelery
The rising price of gold has made way for gold plated jewelery ornaments, which look like gold jewelery without the high price tag. This type of jewelry is in high demand and selling them is a profitable gold business ideas for you.
Gold is a highly sought-after jewelery and its demand only goes up. Gold is a priceless piece of jewelry which is a favorite among every age group. With modest capital, you can build a small scale manufacturing unit. The process of making gold plated jewelery is quite basic and has a lot of potential in the market.
To be successful in this business, you should have a good knowledge of gold plated jewelery and its prices. Online and offline marketing and social media promotion will help you get more customers. Online business of gold plated jewelery jewelery is a profitable option.
Gold Testing Kit
Gold Testing Kits are an essential item for everyone who deals in gold trading. This kit is used to determine the carat value of gold. This includes a testing board and an acid solution for carat testing. You can make such kits and sell them to jewelers and pawn shops to test gold.
You can also consider starting a gold testing kit business to earn money. A gold testing kit is needed to check which carat gold the customer brings to the shop. You do not need to open a physical storefront in the beginning of your business, you can start working from your home and gradually, as your business grows, you can think of opening a store. To promote your business, you can use pawn shops and other shops that deal in gold. If you are really interested in this profession and have some initial experience, you can start small and handle all phases of the business on your own.
The process is not difficult and selling these kits can be a potential gold business idea for you. Good personal contacts and an online sales network will increase your profit margin.
Gold mining is the business of extracting gold from mines and selling them. This is a capital intensive but highly profitable gold business idea. The business of gold mining has the potential to generate high rates of profit for many years.
Gold mining is considered to be the oldest form of entering the gold business. Gold mining requires a huge amount of capital but is a highly profitable business. So, if you have enough money to start a mining business, then you should go for it.
Pawn shops exchange gold in the form of jewelry, coins etc. It is a lucrative gold business ideas. You can start such a shop and earn good profits by exchanging gold for money. Follow the relevant rules and regulations of the state you are dealing with.
A pawn shop is a type of business where people bring their valuables in exchange for a loan. A person who is in a financial emergency can use any valuable item like gold as collateral. There is a moneylender who deals in a pawn shop. The person has to repay the loan amount with interest within the desired period. If the person fails to pay the amount on time, the moneylender can sell the valuable item to get back the money lent by him.
Pawn shops have a high potential for fraud, which is why many communities have put in place policies to ensure the identity of the person in need of a loan. Pawn shop is a profitable deal for both the moneylender and the customer. The moneylender can earn money by lending his money and the customers can get out of their financial emergency.
Gold flipping is basically buying and selling of gold to make a profit. Gold is a precious physical asset whose value can increase over time. Gold flipping refers to buying gold when its prices are low and selling it when its price rises, giving a person a fair chance to make a profit.
Considering the continuous increase in the price of gold, flipping gold or buying gold after some time and selling it at a higher price is a very profitable gold business. It has been observed that gold coins are the best commodity for flipping. You have to buy them when prices are low and sell them when prices go up.
Online Gold Dealer
Buying and selling gold online is a modern way of business as well as a profitable gold business ideas as more and more people are getting eager to buy online. Digital marketing and publicity are essential for this business.
Online Gold Jewelery Shop
Selling gold jewelry through online shops is now a very profitable gold business idea. Start your own online gold jewelery shop with a nice display system of various items in the shop. A prompt delivery system with authenticity from the local Gold Council or other authorities is very important for the growth of your online jewelry shop. Online marketing and social media promotion is essential for this business.
Gold related blogs
If you are a good writer, then you can start your blog on gold. Write on a variety of topics including gold mining, purification, jewelry making and other uses of gold. Online promotion will get you more readers and a good SEO ranking which will make this gold business idea more profitable.
Gold extracted from mines is in crude form and needs to be purified to make it suitable for use. You can start a gold purification unit where you can purify gold by various methods like burning, using electricity or acid solution. This service requires expertise and has a good demand which makes it a potential gold business idea.
Start a goldsmith shop where you can do many things like casting gold, turning gold into jewelry or other items, and purifying gold, etc. Multiple services under one umbrella will make this Gold Gold Business Idea profitable for you.
If you are a goldsmith, you can start a training school for goldsmiths. Since it is in constant demand, your training business will give you a decent income. This Gold Business Idea needs a good marketing and promotional network to attract more students.
Selling Raw Gold
Selling raw gold to purification centers is a profitable gold business. To be successful in this business you need to keep track of raw gold and have a good network with mines as well as purification centres.
Keeping Gold Safe
If you are a gold trader then you can do the business of gold security in which you will keep the gold in the vault for the traders and give it to them whenever they want. In this gold business idea you will get paid for keeping the gold in safe custody. Increasing the amount of gold in your vault will increase your income.
Invest in Gold Mutual Funds
Gold mutual fund investment has gained popularity as a gold business idea. There are many owners of large amount of gold in this business and when the price rises, you will get profit according to your share of gold. Before investing in this fund, get a complete understanding of gold prices and their changes.
Gold Exchange Traded Funds
A gold exchange-traded fund is a type of mutual fund where the investment is in the form of gold, though not physical gold. Investing in this type of fund is a very profitable gold business which will give you good returns with rising gold price.
Similar to company funds, gold exchange funds are exchanged in the BSE cash market. This mechanism brings about uniformity and transparency in investment approach. The exchange took place with the help of gold bullion and was dependent on the gold prices in the market. Before investing in gold bullion, an investor should examine the gold and ensure that the gold is pure and does not contain any impurities. The exchange of gold investments takes place in electronic form.
Thus it ensures safety and security. You need to have a demat account and a trading account to invest in gold exchange traded funds.
Gold ETFs provide investors with the flexibility to track gold price volatility and get disclosures about gold. It allows investors to profit from changes in the price of gold without owning physical assets. So you can invest in Gold Exchange Traded Funds to make money.
Create an online gold forum where the interested community will interact with each other on gold, buy and sell online and also hold discussions, question-answer sessions etc. As the host of the website, you will earn good income through advertisements, more views, trading, etc. If you are a gold expert, then this gold business idea is very suitable for you.
Gold speculation is about investing in gold, with the speculation of a rise in prices within a short period of time. You need a good knowledge of the market to anticipate quick growth to earn high profits in this potential gold business idea. You can do this business for yourself or on behalf of others and get commission.
If you have complete knowledge about gold, its properties and its uses, then you can become a gold researcher.
The gold market can be highly volatile in nature. There are countless factors that can change at any time. With so many uncertainties, becoming a gold researcher can be a better opportunity. You can provide your clients with in-depth knowledge of the gold market. You can advise them when to buy and sell gold to make good profit. You can also write blogs and newsletters to advertise your skills.
Your research will give information to many businesses like miners, gold refining centers, or merchants, from which you will get good income from this gold business idea. Findings or research papers can also be published on your blog or in other publications.
Gold powder is used for various purposes like arts and crafts or jewelry repair etc. You can start a manufacturing unit of Gold Powder and sell them to various buyers. Selling items online through various portals like Amazon is a profitable gold business idea. Both offline and online marketing and promotion are essential for this business.
Gold Jewelery Designing
Gold Jewellery Designing – Gold Business Ideas in Hindi
Gold jewelery designing is a lucrative gold business idea. If you are a trained designer, you can start this type of jewelery design business and sell your idea to jewelers or build your own brand. Innovative designs and designs for all budgets and age groups are key factors for the success of this business.
Authorized Gold Buyer
Becoming an authorized buyer of gold with the Government Mint gives the businessman a valuable seal of authenticity. If you have investment and you are confident about your business volume, then you can choose this gold business idea which is quite profitable.
Gold Teeth Business
Buying and selling gold teeth is an unusual gold business idea which gives you good profit. Since a large number of people use gold teeth as replacement teeth, there is a good demand for it. To be successful in this business you need to have good knowledge of buyers as well as sellers.
Casting liquid gold into various forms using molds is a profitable business. If you have the knowledge and expertise of gold foundry, then you can earn high profit from this gold business idea.
Mold Making of Gold Jewelry
Gold casting is done through different types of moulds. So making gold jewelry molds can be a profitable gold business idea for you. You must have creative and manufacturing skills to make molds. A personal network is very important for this business to get more customers.
FAQ on Gold Business Ideas
Is gold trading profitable in India?
Gold has been a long-term center stage player, so profitability never lacks an upward curve in gold trading or gold investing. Due to this there is a lot of demand for this commodity and due to this business opportunities are increasing in the gold sector.
Do I have to pay tax if I sell gold?
In general, if you make a profit, you have to pay tax on selling the gold. According to the IRS, precious metals such as gold and silver are considered capital assets, with financial gains from the sale of which are treated as taxable income.
How can I start gold business in India?
Starting a Retail Jewelery Shop
Import Export Code
BIS License for Selling Hallmark Jewelery
What business can I do with gold?
Gold Jewelry Shop
Gold Plated Jewelery
Gold Testing Kit
Where can I invest in gold?
Gold can be invested in many forms like buying jewellery, coins, bars, gold exchange-traded funds, gold funds, sovereign gold bond schemes etc.
Some of the Top Gold Funds in India
Axis Gold Fund.
Aditya Birla Sun Life Gold Fund.
Canara Robeco Gold Savings Fund.
HDFC Gold Fund
ICICI Pru Regular Gold Savings Fund.