Buying gold on Dhanteras is considered auspicious amongst Hindus. It is believed that if you buy gold on this day, you will continue to buy gold in the coming year as well. The result of this belief is that huge quantities of gold are purchased on the day since a long time.
Gold is purchased in India for two purposes – one for ornaments and secondly as a hedge against inflation and falling market. People that buy gold as hedge against inflation often buy and sell the precious metal online and therefore need to care little for the quality as delivery of metal is often not taken. However, for people that want to buy gold for ornamental purposes or want to buy gold jewellery, there are a few things to look before you buy gold jewellery this Dhanteras.
Purity of Gold
Purest form of gold comes as 24 carat which is around 99.9% pure. Gold with this purity is very soft to make jewellery. Therefore, it is mixed with metals like silver, nickel, zinc, copper etc. to provide stability to the jewellery. On mixing other metals, the purity of gold reduces by the amount of impurities which is also denoted as its caratage.
On Dhanteras when you opt to buy gold jewellery check the caratage of gold as mentioned on the jewellery. Today gold can be mixed in so many ways that if you do not check the purity of gold, there are chances that you may be duped by the jeweler to make additional profits.
This is a very important certification that the government has made mandatory for all jewelers throughout the country. It is also an international law that requires every item of gold jewellery to be clearly stamped showing its caratage. Government of India has recognized BIS hallmarking as the only agency aligned with international hallmarking as per Vienna Convention 1972. Government of India has also granted licenses to jewelers under BIS hallmarking scheme and they can get their jewellery hallmarked from any of the BIS recognized Assaying and Hallmarking Centre.
However, many jewelers do not get their products hallmarked as it reduces their chances of making additional profits. Therefore, before buying gold jewellery this Dhanteras stress the jeweler for hallmarked products as it will ensure right quality of material for your price.
Gold comes in many colors apart from the most popular yellow. This is achieved from mixing metals of different colors that give new and diverse palette. Mixing of white metals like palladium or silver in the combination creates white gold while mixing of copper results in the pink complexion of rose colored gold.
You can choose gold of your choice from stores. However insist on checking the quality of gold with the carat meter or any other machine.
Reputation of the Jeweler
It takes many years for any shopkeeper or manufacturer to create a good reputation for his enterprise. Most people that build good reputation try their level best to maintain their reputation even at the cost of their profits.
Jeweler is an expensive purchase and passes on from generation to generation as family assets. Therefore, it is recommended that you do not buy jewellery from a local and unknown store. Try to buy your jewellery from a reputed store that is known to provide quality gold.
Designs play a very important role in gold jewellery. Women love to adorn the latest fashion whether it is clothes, accessories, jewellery or any other thing. You can get the latest and the best designs only at reputed stores located in the heart of the city. Therefore it is better to stay informed well in advance about the best stores in the city before you set your foot out to buy your gold jewellery.
There are two types of gold jewellery in the market. One is the unbranded jewellery manufactured by local jewelers, goldsmiths and small time manufacturers that do not want to brand their jewellery for profits. The other is the branded jewellery belonging to manufacturers that create their jewellery using trained jeweler designers, latest technology and proper inspections. They take due care so that the product that reaches the ultimate consumer matches international standards and offers them the best buying experience.
It is recommended that you buy your Diwali and Dhanteras jewellery from branded stores as they sell only hallmarked jeweler as it ensures you the purity of gold for which you have paid. It also gives you the trust of their brand name behind the jeweler.
Price is an important part of jewellery shopping during festival season. As all the jewelers know that people rush to buy gold and gold jewellery during this time, they generally hike the price of gold or making charges to the cost of the jewellery making it more expensive. Therefore, it is advisable to buy jewellery from a place that exhibits all its prices on the rate board outside so that you can compare it with the market.
Discounts and Offers
Dhanteras is a big time for jewellery manufacturers. Many of them offer different kinds of offers and discounts to lure customers to their retail outlets. You need to check out with these manufacturers and compare their offers before rushing for the purchase. If you make a good evaluation of offers from different manufacturers you could in fact make a decent saving from your purchase.
It is very essential that you ask for the proper invoice when you make a gold jewellery purchase. This invoice is your tool against discrepancy on the part of the jeweler that might have given you a substandard product in the name of high purity gold. It is true that the invoice will have the necessary taxes applicable. However, paying that extra amount of money is far better than getting a substandard product.
Keeping these tips in mind, you can make your Dhanteras purchase safe and secure. Since purchase gold is not an everyday affair, you need to be cautious.