Best way of gold investment
People like to do investment in gold in spite of the continuous increase in gold prices. Some jewelers also offer offers to their customers on festivals. But purchasing of pure gold is not as simple as it sounds. Investors and customers should know some important facts before purchasing or investing in gold so that you get best for value.
What is Hallmarked gold
Gold jewelers adhere to the conditions of hallmarking in organized market to test the quality of gold. In India, the jewelers get the BIS hallmarking certification from Bureau of Indian Standards. BIS hallmarking centers are spread in all towns across the nation. Hallmark bears BIS, initials of jeweler, information about carat of gold and date of hallmarking on it. It also bears information about the gold on the inner side of the ornament.
Hallmarking is not still compulsory in India, thus many jewelers sell gold ornaments without any quality mark. Such jewelers who sell ornaments without any quality mark presents an excuse in front of customers that hallmarking process is very costly which in turn makes ornaments costlier. But this is not true. Hallmarking consumes very minor expenses but it makes you sure about the quality of the gold you are purchasing.
If any jeweler refuses to sell hallmarked ornaments, then you should purchase BIS marked ornaments from some other store.
Why is hallmarking required?
You might want to ask that what is the need of hallmarking. Some jewelers sell 19 carat gold ornaments presenting it as 22 carat gold. Thus you pay more for lower quality gold. You will come to know about this truth when you will go to the market to resell those ornaments. Secondly, most of the jewelers don't make the gold ornaments themselves. They outsource it from cities like Surat or Coimbatore, etc. Thirdly, even a smallest ornament also reaches in the hands of customers after passing from multiple hands. Thus investors and buyers should demand for hallmarked gold only. This will ensure that they are paying appropriate for an appropriate object.
You must also ask the seller for the bill of the item. This bill must contain the information about the date of purchase of bill, carat, and weight of gold and details of making charges. The bill helps you for legal action in case of any fraud.
More articles: Gold Investments