Check-List For Buying Gold Jewellery
There is no denying that Indians adore gold. Our fascination with gold extends beyond realms, and we believe we have mastered the art of purchasing it. For most Indians, buying gold means purchasing jewellery. Purchasing gold jewellery serves two functions: it is an investment and a great fashion accessory. It is a well-known fact that Indians enjoy dressing up, and gold jewellery is the ideal accompaniment for any occasion. We see a variety of gold jewellery on display in our great country, be it at birthday parties, weddings, anniversaries, or get-togethers.
The mere mention of this precious metal and the gold jewellery rate draws our attention, drawing our attention away from everything else around us. This is all that is required to turn a once-dream gold purchase into a nightmare. On average, Indians buy the most gold jewellery across the globe, with jewellery stores across the country seeing a steady flow of customers. It is common for people to make mistakes when purchasing gold in this frenetic rush, but remembering a few simple steps could ensure that one gets the most bang for their buck.
1. Knowledge About Purity.
The purity of gold is measured in karats, with 24 karat gold being 99.9% pure and 22 karat gold is 92 per cent pure. Every karat of gold is equivalent to 4.2 per cent pure gold, so 14 and 18 karats of gold contain only 58.33 per cent and 75 per cent pure gold, respectively. Because 24 karat gold is unsuitable for making jewellery, jewellers prefer 14 karats, 18 karats, or 22 karat gold. Buying gold jewellery without first checking its purity is a no-no, and it is always a good idea to check purity before parting with your money. Hallmarking is an indication of gold purity, and it is recommended to buy hallmarked jewellery because these pieces have been tested by competent agencies.
2. Making Charges.
Every piece of gold jewellery comes with a making charge, which is essentially the labour charge involved in creating it. The making charges are a reflection of current gold rates, and one may be duped into paying higher than necessary making charges. Insisting on fixed making charges could make gold purchases less expensive and would undoubtedly be the wiser course of action.
3. Difference Between Hand-Made and Machine-Made Jewellery.
In this day and age of mass production, it is common to come across machine-made jewellery. Machine-made artefacts have lower production costs than hand-made artefacts, making mass-produced ornaments more affordable. A buyer may be able to save money by discussing the origin of a specific piece. Understand the gold jewellery rate by knowing the difference in origin.
In India, most gold jewellery is sold according to weight. The heavier the weight, the greater the cost. Precious stones such as diamonds and emeralds are frequently added to gold jewellery, making it heavier by weight. Jewellers weigh a piece in its entirety, which means that one may end up paying for gold that is not present, and this is critical to remember when purchasing studded jewellery.
Gold purchases peak at certain times of the year, causing gold prices to rise. Most people purchase gold during the off-season. This is when the prices are lower when compared to the wedding season. Also, one can benefit from discount offers during the sale season.
6. Buy-Back Programmes.
Most jewellers offer a buyback programme in which customers can exchange their old jewellery set for a new one. While designs and trends come and go, the value of gold remains constant, and discussing buybacks during a purchase can help one in the future if they become bored with their jewellery.
7. Trusted Sellers.
There are countless gold jewellery stores in India, which are plenty to serve the large population of our country. In the market, there are both big and small stores available. Purchasing gold jewellery from small stores may pose a risk because they may pass off impure gold as pure gold or sell stolen items. It is advantageous to buy gold from a reputable jeweller because such purchases are guaranteed.
The gold jewellery rate will differ between cities and it is important to note that along with purity, the local trading conditions and economic factors can play a large role in the gold you are able to buy.
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