Buying Gold Jewellery - 5 Questions you must ask

Gold Jewellery in India goes beyond aesthetics and value. It is a deep seated relationship that has developed into a booming industry making India the second largest gold market in the world. So it is important to cover the basics when it comes to buying gold jewellery and ask the right questions so that we know our investment is a sound one.

Here are 5 questions that will do the job:

1. How many Karats?

A karat means 4.2% purity of the gold. 24 karat gold is not easy to process for jewellery making, so what you get will be either 14, 18 or 22 karat. Meaning 58.8, 75.6 or 92.4% respectively.

2.What’s the Production Charge?

Machine made jewellery is common today thanks to vast advancements in technology. This makes mass produced jewellery easy to come by. Make sure you ask for hand made jewellery from a reputed jeweller. The production charge will be higher, but it is a moderate price to pay for surety.

3.Can you weigh it for me?

Ensure your jeweller weighs the piece for you to see, and do not go by the marked weight on the product tag. Keep in mind, the stones added to the piece increase its weight drastically. If possible, weigh the stone separately and do the math.

4.What’s the off-season price?

The season makes a big impact on Gold sales and prices. During several festivals and wedding seasons, the prices of gold jewellery are much higher. It is advisable to buy gold during other times of the year.

5.Is there a buy-back option?

Many reputed jewellers provide highly beneficial buy-back options, exchange offers and other schemes that allow you to exchange old jewellery for newer pieces. Be on the lookout for such schemes because they make the process easier and financially more liable.