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Tips for Buying Gold Jewellery

Posted by : Siddharth Jalan on | Dec 19,2019

India is known as the land of The Golden Bird; and for a reason. We, as a country, are obsessed with gold and by gold, it means gold jewellery and are one of the highest consumers of it. Apart from being a style statement, it is also a symbol of social class and an investment as well. It is very rare to see an Indian woman without at least one piece of gold jewellery on her. Due to this obsession with gold, there are a number of gold jewellery sellers that have cropped up, both online and offline. We think we have mastered the art of buying gold jewellery, but that may not be the case in reality. The amount of impure gold doing the rounds is a testimony to this. People often get fooled because they are not aware of what is the correct way to buy gold jewellery. To avoid any such issues, read this article for tips on buying gold jewellery and make sure to keep them in mind the next time you go jewellery shopping!

Always check for purity – the first thing that one needs to do while selecting a piece of jewellery for purchase, is to check the purity of the gold that has gone into its making. The fool proof way to do this is to check for the hallmark on the item of jewellery. A hallmark consists a portion of the gold that has gone into making that particular piece. This hallmark is certified by the Bureau of Indian Standards (BIS) which is the official agency responsible for this. So the next time you are buying gold drop earrings wedding gift or anything else, make sure to check for the BIS certification!

Double check the price always – the next crucial thing after checking for the hallmark is, ensuring that you are paying the best possible price and nothing more. The price is determined by the purity of the gold. This price changes on a daily basis depending on the rate that is prevailing in the market. Jewellery stores update these prices everyday and keep it on display for the customers so that they can calculate and make sure they are not paying more than they should be.

Know how to negotiate – what differentiates the price of one item from another and one jeweller from another are the making charges that they take since the price of gold is fixed. Jewellers usually add a share of this labour cost from a percentage of the prevailing market rate. It is not necessary to pay exactly what they are asking for, so make sure you negotiate the making charges and get yourself a good deal in the bargain. Even when you are buying something as small as this rose gold earrings, India stores have a habit of overcharging.

Always ask for the bill – never accept any purchase or make any payment if you are not sure about getting a bill in exchange for it. There is a huge amount of money involved and certain personal details as well. Not asking for a bill will pose to be a cause for concern in case you ever want to exchange the jewellery or resell it. This is why it is best to make sure you are always presented with a bill at the time of purchase.

These are some few and basic tips to keep in mind next time you go jewellery shopping, but a little bit of precaution goes a long way and saves up on a lot of money and trouble!