HAPPY DIWALI 2022: Deepavali is India’s biggest festival and the 5-day festivities will begin on October 22 with Dhanteras or Dhantrayodashi, this year. Dhanteras is considered to be an auspicious occasion to buy gold and other precious metals as it is believed to bring prosperity and happiness to the family. To mark the occasion, people purchase new clothes, gadgets, home decor items, and precious metals like gold, silver, diamond, etc.
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As Dhanteras is right around the corner, many of you must be planning to buy gold coins and bars or jewellery. Gold has always been considered an important investment option for many Indians as its value increases over a period of time and is helpful in times of financial uncertainties.
However, before you set off to buy the yellow metal, it is important to remember a few things:
Buy hallmarked jewellery
It is extremely important and safe to buy any jewellery with hallmarks. The Bureau of Indian Standards (BIS) hallmark ensures the purity of gold. Gold’s weight or purity is measured in Karat and comes in different forms- 24-karat gold is usually 99.9% pure, and 22-karat gold is 92% pure. A piece of hallmarked jewellery will ensure the purity of the metal.
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Request for a reduction on making charges
Basically, making changes are labour charges applied in making a piece of gold jewellery, depending on the type and design and if it’s made by machine or hand-made. Jewellery made by machine will have cheaper making charges than hand-made ones. Remember to check offers at the jewellery store and request a reduction in the making charges.
Check the price of Gold
Before buying any jewellery, always check the price of the gold. Although it is difficult to judge the price of gold on a prior date, you can make an inquiry with the jewellery house to check for the price and what offers you can avail from them.
Check the weight
Most gold jewellery is sold by weight, however stones like diamonds, rubies, and emeralds make it weigh heavier. Hence, it is essential that you check the weight of the gold. The exact weight of the gold should not be confused with that of the whole piece of jewellery.
Always ask for an invoice
An invoice is extremely important when buying gold. It is helpful if a dispute arises in the near future. You should also maintain it for your own record. The invoice will also be beneficial later when you sell the gold and would want to check the profit you made.
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