Saturday, 26 November 2011
The smart way to buy gold
Here are some tips to keep in mind while buying gold.
1 Buy gold from a reputed jeweller: As gold is a precious and expensive product, be updated with the latest trends. Also, buy from an authorised jeweller. Don’t fall for the ‘small shops are cheap’ philosophy as they can
also sell unadulterated gold.
2 Check for the hallmark sign: Hallmarks are official marks used as a guarantee of the purity of gold jewellery. It involves testing the articles for their purity and marking them to indicate that they are made with a minimum standard of purity. The Bureau of Indian Standards (BSI) mandates that certain visible marks be placed on jewellery identified as Hallmarked jewellery. Always look for those marks before buying gold.
3 Avoid intricate designs: Do not always buy intricate designs while buying gold because if you are looking for an investment, the labour charges levied on the purchase wouldn’t get you the same returns in future.
4 Take a receipt on purchase: Do not forget to take receipt from the purchaser. In case the item turns out faulty, you can go back or even lodge a complaint. But without the receipt, you will find it difficult to do so.
5 Guarantee card: Another thing to keep in mind while buying gold jewellery is to ask for the guarantee card from the jeweller. For eg, if the precious stones embedded in the neck piece are not of good quality, they can easily be replaced without an additional cost if you have a guarantee card.