5 Things To Know While Buying Gold
According to Indian traditions, buying gold brings prosperity and wealth. While gold is a great fashion accessory, it is an even better option for investment. For many Indians, gold purchase directly means jewellery. But, this is not the case when you buy gold.
Gold investing is surely a more trusted option as compared to many others. It is among the most precious metals in the world with a high valuation. Whether it be inflation or financial uncertainty, gold holds its value. However, this even increases the chances of getting confused in the originality when you buy gold commodities.
Even if it is gold investing or jewellery purchase, here are some things you must before you buy it:
Gold purity: When you buy gold, you must know how pure it is. Impurity is basically the addition of other metals to craft the gold into jewellery. Never purchase gold without having information about its purity. It is measured in karats. While 24 karat gold is completely pure, 14, 18 and 22 karat gold contains some impurities. 14, 18 and 22 karats are usually purchased for jewellery. If you want to purchase gold for investment purposes, opt for 24 karat gold.
Genuine certification: It is advisable to look for the hallmark sign to check its purity. The Bureau of Indian Standards (BIS) has set the hallmark as the standard to sell gold. When you buy gold, check for the four signs:
- BIS logo
- Logo of hallmarking centre
- Jeweller’s identification mark
- Fineness and purity of gold (in karat)
Making charges:
If you are planning to opt for gold investing, it is a good idea to purchase it in the form of coins. This eliminates leveraging of making charges, which happens when you buy jewellery. In fact, the more intricate designs you choose, the higher will be the charges based on craftsmanship.
Check the weight and tally the price:
Before you make the big gold purchase, it is smart to check the current market price of gold. You can either check it on various jewellery stores or trustworthy online platforms. There are instances when gold comes from different associations and prices can have small deflections. Also, if you are purchasing studded jewellery, make sure that you check the weight properly. The precious stones increase the weight of the commodity, and you might end up paying a higher price.
Buyback and bills:
For the purpose of gold investing, it is essential to check the buy-back option for gold. Most jewellers provide the option of exchanging old jewellery. This is a great way to exchange your old pieces with trendy ones. Alongside, never forget to take a bill for your purchase to maintain the transparency of the process.
Conclusion:
At Srinath jewellers, we provide you with fine-quality gold and help you make the best purchase. Why splurge extra amounts when you can make a wise purchase? Come visit our store and get the most intricate and beautiful jewellery designs.