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A checklist before buying gold jewellery

assorted jewelries hanged on mirror

Wisdom and awareness will make your gold more valuable..

With the advent of the wedding season in India, there is a steep rise in the number of people who buy gold. Buying gold is a very pleasant experience, as gold jewellery not only enhances the beauty of the individual, but is also a good investment. However, this pleasant experience can easily turn into a nightmare as the market is abounding with fraudsters and scammers.

Gold comes in different forms

The first thing that one should know about buying gold is that the price of gold varies greatly according to weight, karat and the place from where the purchase is made. Gold is measured in karats, where 24 karat gold is the purest form of gold. Since pure gold is extremely malleable, it is often mixed with base metals like copper, zinc and nickel in order to make jewellery. Most of the gold jewellery in India is made of 22 karat gold, which consists of 22 parts gold and 2 parts base metal.

Check the mark

Most pieces of gold jewelry are stamped with the specific karat quality, called a hallmark, usually found on the inside part of each piece. The government of India recognizes the ‘BIS’ as the sole agency for granting hallmarks, which is aligned with the international criteria of hallmarking. According to this scheme, licences are granted to jewellers by BIS under the hallmarking scheme. Always check these stamps before making a purchase.

Gold or gold-plated: know the difference

Gold jewellery may also be plated or filled. Keep in mind that this is not a solid gold article, but a coating of gold over a base metal. There is a significant difference between the price of jewellery that is plated and jewellery that is solid. It is important to study the item in detail before purchase.

While buying gold, make provisions for selling it too!

Last but not the least, one should always ask about the return policies and certificates of authenticity while buying gold jewellery. While a thorough knowledge of the return policies ensure that the item may be returned in case of any discrepancies, the certificate of authenticity ensures that you would get the proper value for the gold if you ever decide on a resale.

Happy shopping!

AS A CONSUMER – let us know what precautions and measures you took before buying gold by commenting below.

Disclaimer: The views and opinions expressed therein and all data and information so provided is solely for informational purposes, to be used at the sole discretion of the reader. If you disagree with any article or any part thereof, please contact us and we will resolve the issue at the earliest. Kyabae makes no representations as to accuracy, completeness, currentness, suitability, or validity of any information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

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