Finance

Buying Gold Jewellery: Things to remember before buying gold jewellery

Buying Gold Jewellery

Obsession with luxurious and shiny metal is not new in India. Our desire for gold goes beyond imagination and mostly, buying gold means one thing i.e., jewellery. Worldwide, Indians are among the top consumers of jewellery made out of precious gold. It not just acts as an accessory for a woman but also become a substance to flaunt during special occasions. Be it a party or a wedding, wearing gold jewellery is a must for us.

Another thing which makes buying gold jewellery a common practice in India is for making financial investments for the future. As a lover of gold, we believe that we are the masters of gold buyers. However, is it actually true? Be it any golden piece of jewellery, we need to check out a few things so that buying a genuine gold and at an effective price is ensured. Let us check out what are the few things to remember before buying gold jewellery.

Know the cost per gram before buying gold jewellery

Before buying gold jewellery or while investing in gold, make sure that you are using a genuine platform which follows standard norms of government regulations. Next thing to remember is checking the current price of gold per gram. This must be done before visiting a physical store besides checking multiple websites that can reveal the exact price of gold per gram.

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Check the weight before buying gold jewellery

After you have ascertained the price of gold per gram, you need to double-check the weight of your jewellery. Gold jewellery is mostly weighted according to grams which means, higher the value, more will be the price. Also, gold jewellery is usually heavier and thicker because of additional stones added to the jewellery designs. Make sure that your gold jewellery is weighted and calculated after deducting the entire weight of studded gemstones. The cost of gems and diamonds must be calculated separately.

Check the purity before buying gold jewellery

After checking the weight and price per gram, the purity of gold must be checked properly. One of the best ways to find pure gold is checking hallmark on your jewellery piece. A hallmark not just defines the purity of the gold but also clarify what is the ratio of pure gold in the golden piece. Indian government follows the hallmark provided by the Bureau of Indian Standards. So, ask for a BIS certificate every time you consider buying gold jewellery.

Look for discounts and offers when buying gold jewellery

Although gold rate changes every day, buying gold at few seasons prove to be a good option. There are many occasions in India when gold sellers offer various discounts and offer to attract consumers. Also, many pieces of jewellery store available online that offer discounts on occasions such as Akshaya Tritiya and Diwali.

Special charges

Although you have calculated the exact amount of gold used in your gold jewellery besides store making charges, few other charges get added to the final bill. The additional charges may include taxes, GST and wastage charges apart from another form of making changes such as purity marking and BIS certificate charges.

Check the buyback policy before buying gold jewellery

Since gold jewellery design trends come and go with time, it is feasible that you might consider to swap it with new and trendy looks. Most of the jewellers will offer you a choice to buy new jewellery in exchange for the old ones. Therefore, never forget to ask for the buyback option while making purchases. Also, you should buy new ones from the old store whom jewellery you are exchanging. This saves a lot of money. For gold coins, making charges and buyback terms are entirely different and do not matter from where you have brought.

Other things to remember before buying gold jewellery

Never buy gold jewellery without a bill. Ask for a proper invoice which includes all the breakdowns along with various charges included in your golden piece of ornament. Never visit a store that does not follow hallmark and BIS rules. Such stores usually try to attract consumers with heavy discounts and offers. When buying gold jewellery, purity comes first as you will never like to invest in something which is not real.

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