Common Mistakes Which People Make While Buying Gold

The Common Mistakes Which People Make While Buying Gold

Shopping

There are a few common mistakes which people generally do while buying gold for a wedding. As we all know jewelry comprises of a big sum of the budget for the wedding. Most of us would set aside a specific budget for this before we even buy. Here are some of the mistakes you can avoid as these will be costly to make:

  1. Not doing any research is more like a blind spot and it will hurt us a lot when it comes to quality and price. You should start by looking at the last way designs, price patterns across shops and online retailers, and even the trends in price, styles, and certifications. If it’s for investment purpose you needn’t break your head by doing a lot of research but for the purpose of a wedding, it is given by default you need to splurge!
  2. Break the price perception. Not all costly items are better. We Indians have a common belief that higher the price better is the gold. Gold rate is set by the market and if we taking off the making charges every retailer should sell us gold at the same price. But making charges accounts to 10% to 40% of the total charges.
  3. As you know the purity of gold is measured in karats. When it comes to gold 22 and 23 karats gold is suitable for jewelry which is 95.8% pure. The purity is determined by the Bureau of Indian standards only and no one else can determine it. For diamond jewelry is also measured in karats.
  4. There is something called as hallmark signs. They should be present in the jewelry. They are logo of BIS, grade of purity, jeweler’s logo, year of manufacture or making and the hallmarking center mark.
  5. Converting old gold into new ones is a trend which is picking up and you might lose a lot of money when this happens to you. In these cases, the jewelry might give you at a much lesser cost but you need to be careful and check for the hallmark signs as said in the previous point.
  6. Keep your bill very carefully. Even after years of buying the gold jewelry, it will be helpful to you in replacing it or exchanging or even selling as it gives the exact valuation of the gold at the time of purchase.
  7. Do not pick sometime because the design is good. You need to look at the wear and tear of the piece. Look at whether it will match the outfit as well.
  8. Gold suiting for the skin is very important. Gold can vary from piece to piece and sometimes it can cause skin irritation and hence it is important to check for metal allergies. A gold ring price may vary from shop to shop.

Keep in mind the above points during your gold purchase and make an informed decision. Keeping the jewel clean will increase the lifetime of the gold jewel. You can clean it in your hours or even call a gold cleansing expert to do the work for you.

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