Design Your Jewellery
19 Oct 2020

7 Things to Consider while purchasing GOLD

7 Things to Consider while purchasing GOLD

Gold is undoubtedly an invaluable asset that one can invest on. Being one of the most precious metals, Gold offers itself as a popular commodity of investment to investors which help diversify risks through the use of futures contract and derivatives. Needless to say, Gold has a very less inflation risk and credit risks. Moreover, you can cash them immediately whenever you need.

 

And in a country like Nepal, investing in Gold is even more popular because it is an important aspect of Weddings. People purchase Gold for future which is also a good strategy because the price of Gold is ever-rising; at least the latest data say so.

 

So, should you just invest your hard-earned money on Gold just like that? Of course not!

 

  1. Price per gram or Tola

The first thing that comes into mind while purchasing something valuable is the price. The jeweller will tell you the Gold Rate of the Day if you ask but it is advised to be aware of the price per gram or tola before visiting the store. Being aware of one’s side is such a handy thing.

While checking the price over the Internet, you may find the Rate per Grams. If you wish to check the price in Tola, here is the simple calculation:

1 Tola= 11.664gms

Price of 1 Tola= Price of 1 gram * 11.664

 

If Rate per 10 Grams is Rs. 80,000/-

Price of 1 Tola = (80000/10)*11.664

                           = 93,312/-

 

  1. Purity of Gold

Gold is precious and soft and malleable. The purest form of Gold is too soft that it is good only to store. That is the reason why Gold is blended with other alloys to produce different designs of jewellery. The ratio in which the alloy is mixed with the Gold determines the purity of the Gold making it 24 Karats, 22 karats, 18 karats and so on.


Just so you know:

24 Karats = 99.99% Gold

22 Karats = 91.6% Gold + 9.4% Other Alloy

18 Karats = 75% Gold +25% Other Alloy

14 Karats = 58.5% Gold + 41.5% Other Alloy

 

  1. Hallmark Certification

In order to protect consumers from fraud or purchasing impure Gold from sellers, it is required that the Gold are Hallmark Certified from the Concerned Authority. Hallmarking system is the system under which a mark or number of marks are made on gold, silver and other precious metals to confirm that their qualifications are up to the correct standard.

So, before you purchase Gold or Silver from any jeweller, make sure you check for the Hallmark that certifies that whatever you are purchasing is pure.

 

  1. Manufacturing Charges

Another factor to be considered while purchasing Gold and Silver is the extra charges associated with it. Normally, we only consider the Price of the material but, in most big Jewellery Houses, manufacturing costs form a big sum. Additionally, the consumers are urged to pay for Jarti (the waste gold during the carving of Jewellery Design). Therefore, make sure you are aware of the manufacturing charge of the jeweller and the percentage of Jarti that is required for crafting your desired design.

 

  1. Buy Back Terms

Nothing is certain. Sometimes, we might run out of cash. Gold will surely come to the rescue during the time of liquidity crisis. So, while purchasing the Gold from any jeweller, make sure you know about their buyback policies. Most of the Jewellers deduct a certain price while purchasing back from the customers but some like Aakrisha Gold Palace do not deduct even a single percentage while buying back their own ornaments. So, the customers are advised to choose their jeweller very carefully.

 

  1. The Reputation of the Jeweller

Since buying Gold is a type of investment and requires a good sum of money, it is necessary to check from whom we are buying. Unlike daily groceries and essential goods, Gold is a precious and valuable asset. So, be aware of the reputation of the Jeweller that you are purchasing from. This not only secures the amount you have invested but also assures that you are not being cheated.

 

  1. Receipt of Jewellery

The receipt that you take from your jeweller serves as a legal document of transaction. It includes all the details of the ornaments, being the weight, purity, manufacturing charge and other charges if applicable. It is a must if you wish to sell your ornaments in future. Ornaments without invoices may fall in the area of doubt and suspicion. So, always ask for invoices, even for the smallest of ornament. After all, Gold is an expensive material that costs a good amount of money.

 

These are some basic things to be considered while purchasing Gold, Silver or Diamond Jewellery.

 

Aakrisha Gold Palace and Handicrafts is dedicated to serving customers who admire ornaments and who want to invest in Gold with the best deals.

 

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silver rate 1140/tola 98/gm