Gold is one of the costliest metal available in the market today. It is one of the most useful metal not only in jewellery making but also in the field of medicine, science and technology.
Gold jewellery is the most widely bought category of jewellery in India. India’s gems and jewellery Noida sector 18 contributes to 29% to the global jewellery consumption and is one of the largest in the world.
The jewellery industry, gold jewellery industry to be precise is a flourishing industry in India with more than 2.5 million jewellery shops in India. The jewellery markets are vastly spread in some cities like Gurgaon and Delhi because of the gold buyers in Gurgaon and Gold Buyers in Delhi.
Not only Gurgaon and Delhi but other metro cities like Kolkata, Bengaluru, Chennai, Mumbai, Ahmedabad constitute largely to the booming jewellery market in India. These cities, as well as towns, have high demands of this precious metal jewellery.
India is a country of customs and traditions, and the yellow metal being an auspicious metal for Indians, is an integral part of every special occasion like marriages, childbirth, anniversaries, pujas and so on.
Buying gold can be complicated a lot of times, and the customer can get cheated easily. So, it is very important to remember a few vital points before buying the yellow metal.
The Purity Check
Hallmark is the easiest way to find the purity of the jewellery. The Bureau of Indian Standards or BIS hallmarking certifies that the particular sell Gold jewellery piece obeys with the standards laid by the earlier said national standards body.
Gold’s purity is measured in karats with 24 karats being the purest form with 99.9% pure gold. The other varieties include 22 karats, 18 karats and 14 karats with 92%, 75% and 58.3% purity respectively.
22 karats is mostly used in jewellery making, and if a piece of jewellery is BIS hallmarked with “22K” on it, it means that the jewellery is made with authentic 22 karats gold.
The Market Rate of Gold
The precious metal market rate changes every day in the international market, and hence it also changes in India. So, it is very important to check the Cash For Gold price on that day itself when you are going to buy the jewellery.
The daily rates are always available on trustworthy websites and newspapers. Many shops display the current day prices in their shops while many don’t. So, it is better to be safe and check the prices on our own beforehand.
The Extra Charges
These extra charges include the taxes, making charges and the wastage charges. The tariffs are levied by the Indian government, which are fixed and has to be paid by the customers.
The wastage charge is the price of the metal wasted in making the design of the jewellery. It is very less but can increase with more intricate designs. Now the making charges are calculated on the metal price. It generally ranges from 5% to 15% and depends on the shop and the design of the jewellery.
The more the design is complicated and intricate, more is the making charge. It also depends on whether a piece is a machine made or hand made. It can be bargained and sometimes reduced depending on the shopkeeper, and the amount of gold purchased.
Choosing the Right Design
Though jewellery pieces studded with diamonds and other eye-catching stones may seem attractive, they actually cause the customer to pay more than a simple piece of gold jewellery. This is because the weight of the stone is also considered while measuring the gold.
Also, we can not determine the authenticity of the stones attached to the piece. So, it is advisable to go for simple and minimal pieces when it comes to Gold jewellery Buyer.
Buyback Policy
The yellow metal is not only a fashion accessory but also a reliable investment option. And so, it is a source of money in case of emergencies. Many stores have this buyback policy where the customer can get the total value of the gold for cash of an exchange or selling the product.
The other charges, however, are not returned, but stores with 100% buyback policy can return the total gold value. So, it is advised to go to the same shop from where the jewellery is purchased for an exchange or selling the piece.
Sales Invoice
Always ask for a sales invoice from the shop no matter how small the purchase is. Proper documentation that lists and records the transactions between the seller and the Gold Buyer Near Me with all the necessary details is very much essential nowadays.
This not only helps in case of any discrepancy or fraud but also proves that the jewellery piece is of that customer only and not a theft product.
Keeping all these factors in mind saves the buyer from being cheated or scammed and saves him his hard-earned money.
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