Gold in Dhanteras, Diwali: Hallmark, BIS logo, 5 things you need to check while buying jewellery
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Gold buying checklist in Dhanteras, 2023: 5 things to check
Dhanteras, which falls two days before Diwali, is considered one of the most auspicious days to buy the yellow metal. It's been a longstanding tradition to buy some gold, even in the form of jewellery, on Dhanteras. While buying jewellery, we often check the gold rates. But, we also need to remember the dos of buying gold jewellery to ensure that we get the worth of our investment.
So, here is a list of things that you need to check while buying gold this Diwali.
So, here is a list of things that you need to check while buying gold this Diwali.
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Check the purity: BIS hallmark
The first step is to check for the purity of gold used to make the jewellery you want to buy. The best method to check for the purity of the gold is to find the hallmarking on the piece of jewellery. A hallmark carries the official proportion of gold used. The Bureau of Indian Standards (BIS) is the official agency responsible for certifying and hallmarking gold jewellery in India. So, when you buy gold, make sure that is BIS-certified gold.
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How to read gold hallmark: Know the basics
Now that you know that you have to check for a BIS hallmark, how will you go about it? Any jewellery with a hallmark comes with a specific number usually engraved with the BIS stamp. It also carries the year of hallmark and a mark to identify the jeweller.
While checking your gold jewellery, find the letter "K". It denotes karat or the percentage of purity.
While checking your gold jewellery, find the letter "K". It denotes karat or the percentage of purity.
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Purity of gold: Keep this in mind
The hallmarking of gold jewellery is permitted in six categories: 14K, 18K, 20K, 22K, 23K, and 24K. The hallmark on gold jewellery will be shown as 22K916, 18K750, 14K585, etc.
If the gold jewellery piece has 22K916 stamped on it, then it means that the particular piece of gold jewellery has 91.6% gold and the balance (8.4%) is other metals such as zinc, etc.
If the gold jewellery piece has 22K916 stamped on it, then it means that the particular piece of gold jewellery has 91.6% gold and the balance (8.4%) is other metals such as zinc, etc.
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Cross-check gold price
Do cross-check the price when you go to the store to buy your gold jewellery. The price of the precious yellow metal changes every day depending on the prevailing market rate. Jewellery stores across India display the daily rates of bullion for their consumers.
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Bargain making charges
Do not forget to negotiate the making charges with the jeweller. The making charge varies as it is generally a percentage of the present gold price. You can bargain with the jeweller to get the best price on your choice of jewellery.