Things to Know if You are Buying Gold

By First Posted: Oct 25, 2019 Fri 8:59 AM
Things to Know if You are Buying Gold
Image Credit: NDTV

Dhanteras is a big day for women. It is believed that buying gold (or metal) is auspicious on this day. So we buy nice jewelery on Dhanteras and get to show it off on Diwali! Buying gold is a big deal for us. We do not just buy gold to wear. We buy it so that we can pass it on to the next generation. We buy it as an investment and also as a security for the future of our family. This is why it is important for every Indian woman to know how to buy gold.

The first thing to know is the price of gold. It varies from day to day, and you should know the price when you go shopping.

The next thing to know is about purity. 24 carat gold is the purest. But you will not find jewelery in 24 carats. You may buy a block of solid gold if you wish to invest in pure gold. If you prefer buying jewelery, look for 22 carat. This will be the purest type of jewelery available.

Spectometer is an instrument that measures purity. Most big jewelery stores will let you test the purity on a spectometer before you make a purchase. Buying from a big store is no guarantee of purity. But chances of being cheated in purity are higher at smaller stores.

Gems and stones in jewelery are also counted when a gold item is weighed. But when you sell the same item, you will not get anything for the weight of gems and stones. So from a purely investment point of view, it is better to buy gold jewlery that has few or bo gems and stones.

Check the making charges or labour charges before you make a purchase. Making charges also vary from store to store and you can save quite a bit of money if you research and compare before buying.

Lastly, invest in a safe or get a bank locker to store your jewelery!

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