Looking to buy gold this Akshaya Tritiya? Here’s what you should keep in mind

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Check for purity
When buying gold jewellery, it is necessary to check for its purity as it determines its true worth. The Bureau of Indian Standards (BIS) is the authorised agency that hallmarks gold jewellery, and ascertains its purity. Any jewellery that has a hallmark will have a number attached to it, a BIS stamp, mention of the karat, year of hallmarking, which is represented alphabetically,  jeweller’s identification mark, and the assay centre.  The marking is generally found in an inconspicuous place like on the inner side of a ring band.

Before buying any gold jewellery remember to check the hallmark. The value of gold is determined by its purity. One should responsibly check for the carat, weight, and  and consider the price and durability of each piece before making  a purchase. Though 24 carat implies 100 per cent purity, it is advisable to go for 18 carat if you want to wear  that piece of jewellery on a regular basis.

A hallmarked ring with clear explanation of each of the signs. (Source: Rajan Sharma/ Indian Express)

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Look for discounts on making charges
To celebrate the occasion and attract customers, several jewellery brands give huge discounts on making charges for a stipulated period. For instance, jewellery brand ORRA is giving upto 50 per cent off on making charges of gold jewellery, and Tanishq is offering upto 20 per cent off. On the other hand, P.C. Chandra Jewellers are giving assured gold coins on every purchase. There are many such offers available, so make sure you check them all out.

Compare the prices
Price of any piece of gold jewellery varies from one store to another. Before buying, take a quick survey of the prevalent market prices, consider the differing making charges and the discounts provided on them, and make an informed decision.

What to buy and what to avoid
Buying gold jewellery is generally considered a safe investment, but a prudent choice must be made on what to buy and what to avoid. It is advisable that you buy something that will give you optimum returns in the future. Traditional and timeless designs are always a safe bet, and give 100 per cent returns.  “It is prudent to a buy a single diamond solitaire ring as it yields 100 per cent return,” says Santosh Lal, retail officer at Tanishq, Noida.

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Opt for gold coins or biscuits instead

If you’re looking at buying gold purely as an investment, then opting for gold coins or biscuits might be a better idea. “If you are looking to make an investment, always buy gold coins. They incur minimum making charges and have 100 per cent exchange value,” says Vaibhav Pratap, a sales executive at PC Chandra Jewellers, CR Park.

Avoiding stone jewellery

Studded ornaments are generally priced higher than a regular gold piece, and while precious stones do add to the beauty of jewellery, they lower the value of an ornament. They incur high making charges but when they are exchanged or sold, the stones are taken out to determine the value of the gold. Chances are high that you will get an exchange value only of the gold.

If the stone is precious. and you have the receipt, then some stores value it as per its current market price while determining its return. But this practice is restricted only to certain leading jewellery brands. For small-time jewellery shops the stone has no value at all. “We have no use of the stone,” says Pawan Kumar, manager of Hukum Chand Mukesh Kumar Saraf, Karol Bagh.