Diwali is considered a five-day festival. It begins with Dhanteras. This year Dhanteras festival will be celebrated on October 29 i.e. today. Buying gold and silver on this day is considered auspicious. On the day of Dhanteras, there is a huge rush of customers at jewellers' shops. In such a situation, everyone wants to buy quickly, but gold is an expensive metal. Rushing to buy it can be heavy on your pocket.
So, today In work news We will talk about what precautions should be taken before buying gold on Dhanteras. You will also learn that-
- How to check purity of gold jewelry?
- What is the difference between real and fake hallmarks?
Expert: Abhishek Soni, Jeweler (Gonda, Uttar Pradesh)
Tradition of buying gold on Dhanteras Gold ornaments have been a part of Indian culture since ancient times. It is not only considered to be the safest form of investment, but is also a very popular piece of jewellery. This is the reason why the number of people buying gold increases manifold during Dhanteras. People are attracted to gold jewelery due to new designs and buy it in large quantities every year.
Question- What should be considered while buying gold jewelry? Answer- When it comes to buying gold jewellery, most of us prefer to go to a shop, compare prices and then buy. But in the meantime many important things are overlooked. Like checking the purity of gold.
24 karat gold is the purest gold, containing 99.9% gold. It is very soft and flexible. So jewelery cannot be made from it. Usually 22, 18 or 14 carat gold is used for jewellery. But sometimes jewelers can compromise the quality of gold. Jewelry sold as 22 carats may actually be 18 or 14 carats. In such a situation, the customer may have to suffer a huge loss.
If you are planning to buy gold this Dhanteras, definitely keep these points in mind given in the graphic.
Question- How to check purity of gold jewellery? Answer: To check the purity of gold while buying, look for the hallmark symbol of the Bureau of Indian Standards (BIS) on gold ornaments or coins. Hallmark is a government guarantee. The Government of India has made hallmarking of gold jewelery mandatory in the country from April 1, 2023. According to the Government of India, hallmarks made on gold jewelery should bear three signatures.
- BIS Standard Mark
- Purity Grade (Carat Number)
- 6 digit alpha numeric code ie HUID number
Question- How can we recognize whether the hallmark written on gold jewelry is genuine or fake? Answer- Hallmarking is a quality certificate issued by BIS, which guarantees the purity of gold. Many times jewelers while selling gold jewelery claim that it is 22 carat gold, even if it is gold of less than 22 carat purity. To avoid this type of scam, you should be aware of the signs of genuine hallmarking. If you don't see a hallmark on any gold jewelry or the hallmark looks suspicious, be careful.
However, the fact that gold jewelery is hallmarked does not mean that it is genuine. Hallmarks can also be fake. So it is very important to identify it.
Understand from the graphic below how to identify genuine and fake hallmarks.
Q- What are the important questions a jeweler should ask while buying gold jewellery? Answer- We all know that gold is an expensive metal. A slight manipulation of its quality, weight or price can result in loss of thousands. So, before buying gold jewelry, definitely inquire about these three things from the jeweler.
Gold rate in the city Most of the gold in India is imported. Hence import duties, exchange rates and local taxes affect the price of gold. Local taxes and jewelery making charges of the state and various cities also affect the price of gold. So, before buying gold coins or ornaments this Dhanteras, definitely know the price of gold in your city. Gold prices may vary slightly from city to city.
Be sure to ask about the carat Jewelers make jewelery according to different carats. There is a lot of variation in jewelery rates as per carat. So, before buying jewellery, definitely ask your jeweler about its carat. Give its value by carat.
Price difference in making charges Do generally jewelers do not see much price difference when buying gold. So, they impose making charges on jewelery as per their wish and charge arbitrary amount. The making charge is determined by the time, labor and quality of the piece taken to make the jewellery. Therefore, the customer must ask about the making charge at the time of purchase. You can also price according to the jewellery. It can give some discount in the rate of jewellery.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
