Buying gold is a tradition for Indians for any occasion, be it wedding, birthday or any other. It is a part of their culture and also a great investment. It is also true that even when gold prices are breaking records, purchases have not decreased significantly. Today, the price of a pound in the state is Rs 72,800. When buying gold at such a high price, do you check the authenticity and quality of the jewelry you buy?

To avoid such a problem, many people buy gold only from branded shops and known dealers. However, recently, news came out from Hazaribagh, Jharkhand that 18-carat gold is being sold under the name of 22-carat gold. In such a situation, how can you be careful while buying gold?

Things to keep in mind while buying gold

BIS Hallmark:

BIS Hallmark is a government-certified mark that confirms the purity of gold. Therefore, check the BIS Hallmark before buying gold. For 22 carat gold, the hallmark is ’22K916′, which indicates 91.6% purity. Similarly, ‘750’ or ’18K’ indicates 18 carat gold.

Loom Number:

All hallmarked jewellery must bear the dealer’s identification number, license or ‘loom’ number. It should also be confirmed that this number is registered with the Jewellery Bureau of Indian Standards.

Detailed Bill:

Fraudulent traders may use fake hallmark stamps to mislead gold buyers. To avoid this, consumers should always ask for a detailed bill when buying gold, which includes the carat value, weight, workmanship and applicable taxes.

Gold Testing Machines:

To provide greater assurance to customers, jewelers now offer certified gold testing machines that can quickly and accurately test the purity of gold jewelry. Consumers should use these whenever they have the opportunity to use them.

Also Read: How to Register Under the Startup India Scheme: Complete Guide

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