Diwali It is considered a five-day festival. It starts at Dhanteras. This year, the Dhanteras festival will be celebrated on October 29. Buying gold and silver on this day is considered auspicious. On the day of Dhanteras, a huge crowd of customers comes to the jewelry stores. In such a situation, everyone wants to make a quick purchase, but gold is an expensive metal. Rushing into your purchase can be costly to your wallet.
so today necessary news I will talk about the precautions to take before buying gold on Dhanteras. You will also learn that-
How to check the purity of gold jewelry? What is the difference between a real and a fake hallmark?
Expert: Abhishek Soni, jeweler (Gonda, Uttar Pradesh)
Tradition of buying gold on Dhanteras Gold jewelry has been a part of Indian culture since ancient times. Not only is it considered the safest investment method, but it is also a very popular piece of jewelry. This is the reason why the number of people buying gold increases significantly during Dhanteras. Due to the new designs, people are attracted towards gold jewelry and purchase it in large quantities every year.
Question: What things should be kept in mind while buying gold jewelry? answer- When it comes to buying gold jewelry, most of us like to visit stores, compare prices and then make the purchase. But during this time, many important things are ignored. It’s like checking the purity of gold.
24-karat gold is the purest gold, containing 99.9% gold. It is very soft and flexible. We therefore cannot make jewelry from it. Typically, 22, 18, or 14 karat gold is used for jewelry.
But sometimes jewelers can alter the quality of gold. Jewelry sold in 22 carats can be 18 or 14 carats. In such a situation, the customer might have to incur huge losses.
If you are considering buying gold with this Dhanteras, definitely keep in mind the things shown in the chart.
Question- How to check the purity of gold jewelry? answer- To check the purity of gold at the time of purchase, look for the Bureau of Indian Standards (BIS) hallmark symbol on gold jewelry or pieces. Hallmark is a government guarantee. The Government of India has made hallmarking of gold jewelry mandatory in the country from April 1, 2023. According to the Government of India, the hallmark affixed to gold jewelry must have three signatures.
BIS Standard Mark Purity Grade (Carat Number) 6 Digit Alphanumeric Code i.e. HUID Number
Question: How can we determine if the hallmark on gold jewelry is real or fake? answer- Hallmarking is a quality certificate issued by BIS, which guarantees the purity of the gold. Often jewelers, when selling gold jewelry, claim that it is 22 carat gold, even though it is gold with a purity lower than 22 carat. To avoid this type of fraud, you need to be aware of the signs of real hallmarking. If you don’t see the hallmark on gold jewelry or if the hallmark looks suspicious, be careful.
However, just because gold jewelry is hallmarked does not mean it is authentic. Hallmarks may also be fake. It is therefore very important to identify it.
Understand from the graph below how to identify authentic and fake hallmarks.
Question – What important questions should be asked to jewelers while purchasing gold jewelry? answer- As we all know, gold is an expensive metal. A slight manipulation of its quality, weight or price can result in loss of thousands. Therefore, before buying gold jewelry, definitely inquire about these three things from the jeweler.
gold price in the city Most of India’s gold is imported. Therefore, import duties, exchange rates and local taxes affect gold prices. Local taxes and jewelry manufacturing fees imposed by the state and individual cities also affect gold prices. Therefore, before buying a gold coin or jewelry this Dhanteras, definitely find out about the price of gold in your city. There may be slight differences in gold prices in each city.
Be sure to ask about carat Jewelers make jewelry according to different carats. There is a lot of difference in the price of jewelry depending on the carat. Therefore, before buying a piece of jewelry, it is essential to find out its carat from your jeweler. Give its price in carats.
Negotiate taking feesGenerally, jewelers do not find much difference in price when purchasing gold. Therefore, they charge on the jewelry as per their wish and charge an arbitrary amount. Manufacturing costs are determined by the time required to manufacture the jewelry, the labor and the quality of the piece. Therefore, the customer should inquire about manufacturing costs at the time of purchase. You can also haggle depending on the jewelry. This may result in a certain reduction on the price of jewelry.
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