Buying Gold jewellery

August 16, 2023
DD Planet

Buying gold jewellery is quite common, especially in the Indian market. It is an age-old form of creating assets as well. Therefore, it is important that proper diligence is carried out while purchasing it.

Here are the tips and advice to help you buy gold jewellery:

1. You need to first understand gold’s purity. A pure gold is 24 carats; however, it cannot be used in jewellery. The most common purity used in ornaments is of 22 carats, although 18 carats is also common.
2. Know your style and choose the right design that is timeless, modern and attractive, and at the same time fits your budget.
3. Find the prevailing gold rate. The gold rate fluctuates every day. Therefore, search the rate as is on date and don’t forget to know the rate of the exact carats of the gold you’re buying. Don’t get your calculations based on the 24 carats gold price.
4. Visit a reputable jeweller only. If buying online, ensure that the seller is authentic and provides all the necessary certificates.
5. Do not pay for stones (including American diamonds) at the rate of gold. Such things should have a separate weight measurement and price.
6. If the ornament has diamonds, the gold weight should be of the gold only.
7. Understand that you need not pay higher for rose or white gold. They also come at the same price as that of the popular yellow gold.
8. Do not guess your size. Get it measured accurately before buying online.
9. Do not overpay for making charges. Some designs may cost higher but there is no need to spend too much on it. Do not visit a jeweller that charges too high for craftsmanship.
10. Negotiate the best price for making charges and avail all the discount offers.
11. Judge the resale value of the ornament you’ve finalised. It’s also good if the seller has a buyback and exchange/return policy.
12. While making the actual purchase, check the hallmark stamp (a triangular mark followed by purity indicator and a 6-digit HUID number) and the weight of the jewellery in the measuring machine.
13. Take a proper invoice of the purchase that shows the amount of GST paid and all your details correctly.
14. Do not forget to take the purity certificate if the jeweller provides it.
15. Store the invoice and certificate properly.