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:
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.
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.
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.
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.
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.