Gold will always be in fashion as it’s signifies the symbol of luxury. In fact, the gold jewellery is a purchase that you will be able to enjoy for your entire life, even for generations. Therefore, when you make a purchase it is wise to acknowledge yourself on the different standards of gold available in the market.
Well, let us face the reality! We all buy gold with an investment point of view. One of the main reasons why people buy gold is for instant liquidity because gold is a precious metal, which can be sold anytime to get instant cash. Before you get cash for gold by selling it or buy any gold jewellery, it’s important to know its actual value. Relax – you don’t need to be an expert for that.
The following tips will guide you the best way to buy your gold jewellery :
1. Know the Karats!
When buying a ring or any gold jewellery, there is a mark, which shows its authentication. The marks such as 22K, 14K, or 9K that is very important for gold items. The K here stands for karat, which determines the value of the jewellery. This system is used to identify the percentage of pure gold it comprises. Remember, the higher the karat, the more expensive your gold jewellery. Here are the key facts you should know about gold:
- 24-karat is 100% of pure gold, so gold is measured in 24ths.
- 18-karat gold is 18 parts out of 24 pure gold and 6 parts alloy that is 75% of pure gold.
- 14-karat gold is 14 parts out of 24 pure gold and 10 parts alloy that is 58.5% of pure gold.
- 9-karat gold is 9 parts out of 24 pure gold and 15 parts alloy that is 37.5% of pure gold.
Gold jewellery ranges between 8 to 22 karats, but at about 99% the gold that earns the highest price is 24 karat gold. Hence, while buying your gold, if you observe the mark missing, consider rechecking the quality of the jewellery!
2. Why is Alloy Gold Metal Mixed?
We know that gold is a precious metal that is loved by almost all. However, when it comes to its shape holding capacity, it is a question. Pure gold is easily malleable & can be mould in any shape. Hence, alloy gold is mixed in making the jewellery to provide durability and strength. There are many types of alloy gold – silver, zinc, copper, etc. that are added to the gold jewellery. Hence, when buying your gold jewellery, it’s important to know about the alloy gold which is used in your jewellery.
3. Which Gold is better to buy?
When it comes to gold jewellery, we have many options in our mind like platinum, white gold, or the yellow one. But ask yourself, which one is better for you? If you’re thinking of platinum, it is very expensive than any other gold jewellery. The spot value of platinum is less as compared to the gold jewellery. Hence, gold is preferable to buy.
Still, it is a question that why platinum is more costly than gold? Well, platinum is solid than gold so most of the platinum jewellery contains 95% of pure platinum. It’s not the case with gold. Pure gold can easily get bend so more amount of alloy is used in its making.
4. Determine the Gold Colour you want to have
Yes, you heard it right. There are many different types of gold colours available. Are you surprised? Don’t be. Apart from the known gold colours like white, rose, & yellow, there are bronze, red, lime, blue and even purple gold alloy colours available. But, which colour is the most valuables? Ultimately, the price of the jewellery is measured from the weight & the percentage of gold used.
But for your question, the answer is white gold. White gold is one of the most expensive and precious gold colour. It is extra-expensive because it is plated with rhodium to maintain the beauty of the gold.
5. Know the Weight of the Gold Jewellery
After deciding the gold colour, verifying the karat, lastly determine the value of the gold jewellery on its weight. The weight of the jewellery is the authentication that your gold is pure and accurate to its specified karats. Once you have weighed your gold, identify the hallmark and the amount of gold used in the jewellery. Before buying your jewellery, make sure to follow the stated condition so that you get the best gold for your money.
Now that you know the ways of buying gold jewellery, you can shop all you want without any worries. With the above-stated ways, you can determine the value and purity of the gold jewellery with better assurance.
