Why purchase hallmarked gold jewellery?
The Indian gold market is not only one of the largest in the world; it is also responsible for creating some of the most beautiful, intricate and handmade jewellery. The purchase of precious gold jewellery has always excited us but in all our excitement, we should not forget that gold jewellery is prone to adulteration of lower karatage and the industry has long been hampered by concerns around quality control. To combat purity concerns for consumers, the Bureau of Indian Standards (BIS) introduced hallmarking standards and policies in 2000.
Why buy BIS hallmarked gold jewellery?
A hallmark indicates that the gold content in the jewellery has been evaluated and that the gold adheres to international standards of purity. That is to say, you can take the gold quality as claimed by the jeweller to be genuine. When you spend a significant amount to buy precious gold jewellery, you cannot afford to rely on determining the authenticity by way of touch or looks. You must remember that while purchasing the precious yellow metal, simple self-certification by the jeweller will not suffice in cases where you present the jewellery during buy-back since you may exchange your gold jewellery at another jeweller.
4 Marks of BIS hallmark on gold jewellery:
All these hallmarks can be clearly found stamped on the jewellery that you purchase.
Important points to keep in mind while purchasing gold jewellery
Look for: Jewellery showroom selling BIS Hallmark Gold Jewellery.
Buy: Hallmarked gold Jewellery only. It assures the mark of purity/fineness.
Ask for: Invoice which will help BIS to resolve complaints (if any).
All that glitters may not be gold. Be sure it is pure gold which is properly hallmarked.
Gold loans are secured loans where gold jewellery is used as collateral. You pledge your gold jewellery with the lender and get a loan. The loan amount is usually a percentage of the gold’s value. You can repay the loan through monthly instalments. After the repayment, you get back your gold jewellery. Nationalised banks, private banks, and other financial institutions offer these loans at affordable interest rates.
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