Gold Buying: There is a tradition of buying gold in our country. Apart from festivals, there is a tradition of giving gold gifts in weddings. In such a situation, the biggest problem when buying gold is that what precautions should be taken while buying it because due to inadvertence on this precious metal, a lot of damage can be done. Let us know here what precautions should be taken while buying gold jewelry or gold.
Coins purchased from the bank cannot be sold back
Most people buy gold coins as an investment. Some people buy these coins from shops around them and some people buy them from common banks or post offices. Although there is a problem here that banks sell coins, but according to the rules of the central bank, they cannot withdraw the coins. So keep this in mind when buying coins.
Buy hallmark gold only
While shopping for gold, go to the shop you trust. Apart from this, one option is to buy hallmarked gold. Hallmark is a government guarantee of gold purity. It has a hallmark of 999 on 24-carat gold and 916 on 22-carat. Through these numbers you can understand how pure the gold you have purchased.
The hallmark is the triangular mark of the Bureau of Indian Standards (BIS). The BIS logo, along with the gold number (purity, such as 999 for 24 carat), assesi center, jewellery identification mark with the hallmarking year is also written. Looking at all these carefully, you can prove yourself how gold is.
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Pay attention to making charge
The price of gold jewelry can vary from market to market. Sometimes, even with different goldsmiths in the same market, it can be different. The reason for this was told by Vinod Mutha of Mutha Jewelers to Making Charges. They say that the price of gold is almost the same, but the cost of labor charge and transport cost in the making charge. There is no government guidelines on making charges and the goldsmith sets it at 2% to 20% according to its cost. It is also decided according to the design of the jewelry.