Before you buy gold or silver, it’s important to understand the basics. These tips will help you make smarter, safer, and more confident buying decisions in India.
Purity plays a big role in the value of your purchase. Gold purity is measured in karats (K). 24K gold is almost pure (99.9%) and mainly used for investment, not jewelry. 22K (91.6% pure) is commonly used for making ornaments because it’s slightly stronger. 18K (75% pure) is usually chosen for pieces with diamonds or gemstones.
In India, the Bureau of Indian Standards (BIS) certifies gold purity through hallmarking. Every genuine gold item now carries three things: the BIS logo, the purity mark (like 22K916), and a 6-digit HUID number.. This is your proof that the gold is real and meets quality standards.
The price of gold jewelry is not just about the day’s gold rate. It usually includes:
1. Gold Value: (Rate of gold per gram on that day) x (Weight in grams).
2. Making Charges: This can be a percentage of the gold value or a flat rate per
gram. This is the primary area where you can negotiate with the jeweler.
3. GST: A 3% Goods and Services Tax is applied to the total value of the gold and
the making charges.
Always ask the jeweler to weigh the item in front of you using a proper electronic scale. If you’re buying jewelry with stones, confirm the net gold weight, you should only pay the gold price for the actual gold, not for diamonds or gems.
A detailed bill protects you in the future. It should mention the purity, net weight, gold rate, making charges, GST, and the HUID code. A proper invoice makes resale or exchange easier later.
Before purchasing, understand how the jeweler will handle returns or exchanges. A clear buy-back policy tells you the deductions they’ll make if you decide to sell or exchange your jewelry in the future. Reputable sellers are always transparent about this.
