Ms. SMITA JEWELLERS PEN Claim

As a gold-loving nation, the mention of the yellow metal catches our attention. This often also distracts from doing the due diligence required to buy gold jewellery. In the rush to buy gold at the best rates, it’s quite common to make mistakes. However, remembering the dos of buying gold jewellery can ensure that you get the worth of your investment.

Check the purity: The first step is to check for the purity of gold used to make the jewellery you have your eyes on. The best method to check for the purity of gold is to find the hallmarking on the piece of jewellery. A hallmark carries the official proportion of gold used. The official agency responsible for certifying and hallmarking gold jewellery in India is the Bureau of Indian Standards (BIS). So, when you buy gold, always go for BIS-certified gold.

Know the Basics: Now that you know you have to check for a BIS hallmark, how do you go about reading it? Any jewellery with a hallmark comes with a specific number usually engraved with the BIS stamp. It also carries the year of hallmark and a mark to identify the jeweller. To understand what the caratage is, find the letter “K”. This denotes karat or the percentage of purity. For example, if you are buying 22kt gold rings, it means they contain 91.6 % pure gold. You will often find 916 engraved in jewellery featuring this caratage. Stone-studded ornaments and white gold and rose gold ornaments typically come in 18kt gold, which contains 75% pure gold.

Cross-check the price: As important as checking the hallmarking is cross-checking the pricing. The purity of gold determines its price. The price of the precious yellow metal changes every day depending on the prevailing market rate. Jewellery stores across India display the daily rates of bullion for their consumers. To give you an idea about how to calculate the price of gold, discount the purity of gold from the price of the bullion.

Negotiate the Making Charges: Another important step while buying gold jewellery is to negotiate the making charges. Making jewellery involves a labor cost, which jewellers pass on to the buyers. The making charge varies as it’s generally a percentage of the present gold price. You have all the rights to bargain to get the best price on your choice of jewellery.