The central government has given a bumper offer to those who want to buy gold. It is offering a pound of gold for just Rs 37,000. That too with a hallmark. Are you wondering how gold can be bought at such a low price? But find out.
The central government is offering hallmarked gold for just Rs 37,000 per kilogram. That gold is 9 carat gold. This is called Modi gold.
To buy ten grams of pure gold, you have to spend more than one and a half lakh rupees. Gold is available in different grades like 9 carats, 14 carats, 18 carats, 22 carats, 24 carats. The value of gold depends on its carats. You should only buy gold with a hallmark.
However, 9-carat gold jewelry did not have any hallmark until recently. Due to this, frauds started happening in that gold as well. That is why the Bureau of Indian Standards has revised the hallmark rules. It has made hallmarking mandatory for 9-carat gold jewelry as well. Hallmarking is mandatory for any gold jewelry from nine carats to 24 carats.
On the one hand, prices are increasing, and on the other hand, frauds are also increasing, so the central government is taking many precautions regarding gold. The center explains that it is doing this to increase confidence among gold buyers. It is also intended to provide jewelry at a lower price. Those who cannot afford 24-carat and 22-carat gold will have the opportunity to buy nine-carat gold. The price of ten grams of nine-carat gold comes to 37 thousand rupees. It is available at a much lower price than 24-carat gold.
Before buying gold jewelry, everyone should check the hall mark. It means that the gold with the hall mark is pure. The gold jewelry you buy should have the BIS logo. You should also check its purity. Every jewelry has a code. You should also check that. Every jewelry has a 6-digit hall mark ID. You can find out the details of that gold jewelry on the BIS app.
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