GOLDEN ADVISE

Things to keep in mind while buying gold.

Gold is undoubtedly one of the most precious metals in the world. Ornaments made out of gold have this innate charm that billions around the world love. As an investment it acts as a great hedge against inflation and falling markets and can also be liquidated easily around the world.

As Indians we consider far more than just a valuable investment. It’s is symbol of purity, prosperity and opulence. Buying gold is an integral part of every Indian household. A lot goes into picking and eventually buy gold. So it’s absolutely necessary that the gold you are buying is pure and worth your investment.

Here are few essential things that you should look out for while buying gold.

There are variations in gold that affect its purity, quality and price - the main factors include purity, gram weight and design.

Purity

Pure gold is too soft to use it as jewellery. So it is alloyed with a mixture of metals like silver, copper, nickel, and zinc to give it strength and durability. The most common ‘Carat’ options are 18 K, 22K or 24 K. So the most important marking that you need to look for is Caratage. Higher the ‘Carat’ value, purer is the gold.

Price

The price of gold jewellery is determined by the purity of the gold, which alloy it is combined with, and by the amount of skill and labour that goes into making that piece – the higher the skill and labour, higher is the making charges.

Colour

Combining pure gold with other metals creates a new and diverse colour palette. Mixing in white metals, such as palladium or silver in combination, creates white gold. The inclusion of copper results in the soft pink, and is popularly known as rose gold. But the greatest demand for gold around the world remains for yellow gold - the ultimate in precious metals. It’s purer and therefore worth more.

Identification

In India, by law every item of gold jewellery must have a clear stamp indicating its Caratage. This identification is often controlled through a hallmarking system. ‘BIS’ is the sole hallmarking agency assigned by the Government of India and the BIS hallmarking scheme is directly aligned with the international criteria on hallmarking. So the next time you are buying gold, make sure it is BIS hallmarked.

Jeweller’s Reputation

Buying gold is based on trust and you are building a lifelong relationship with the jeweller. Ensure that brand is well established and has proven reliability and authenticity.