Tuesday, 18 October 2011

Gold, keep these in mind when you buy gold

Gold is a precious metal and the price of gold is always shows an upward tendency. Gold has its value from ancient time also.  Kings and Emperors were using gold in their thrown and crowns. People use to wear gold ornaments to enhance their beauty. So gold is more important while marriage functions and other related ceremonies. People used to wear more gold ornaments in such occasions.

But you have to be aware when you buy gold as an ornament or as an investment. For making ornaments copper or silver is added with gold for the convenience of making ornaments. The ratio of these metals and gold affects the value of gold. So when you buy gold ornaments or gold coins, the following matters should be kept in mind.

Always ask for a gold purity analyzer

Now all gold jewelries and shops have gold purity analyzer. It is an electronic device which shows you the percentage of real gold in any ornaments in no time. You can confirm the purity of gold you purchase and can pay the real value.

Get Discount for the making charge.

You should pay a huge making charge for fashionable gold ornaments. The making charge is a fixed percentage of the value of gold. It may vary from 5% to 35% as per the ornaments. But you can bargain for the making charge and can save a good percentage of money. When you buy gold for wedding and such related functions you can save a good amount of money in making charge.  Remember that you will not get back the making charge when you sell these ornaments.

Be aware about reduction sales and free making charge.

Some gold ornaments will be sold with discounted price and free making charge. You must be aware that gold has a standard price and it is sold everywhere as per the daily index price of gold. If any jewelry offer discount sales or free making charge, buy gold from such shops only after checking the purity of gold with gold purity analyzer.

The purity of gold measured in carrot

The measuring unit of the purity of gold is known as carrot abbreviated as kt. The pure gold is 24 kt. When the copper or silver is added with, the quality will be reduced as per the norms of each country. In India the normal quality of gold for gold ornaments is 22 kt. When the purity is coming down the price also should be come down proportionately.

Always collect bills for the payment

When you buy gold, you should collect bill from the shop. The shop keeper may say that there will be taxed, if you ask for bill for your purchase. But keep in mind that the bill is the proof of your ownership and you must collect it and keep it with you in safe custody. You should pay only a small percentage as tax. You pay the tax and keep the bill.

If you follow the abovementioned instructions when buying gold you can save money and can assure that you are the proud owner of pure gold.

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