Dhanteras 2023: Consider these 8 key factors when purchasing gold
Dhanteras, the kick-off to Diwali, holds special importance. Buying gold on this day is a big deal because it’s seen as a symbol of wealth and good fortune.
However, it is important to ensure the authenticity of your gold purchase with these key steps:
1. Hallmarking Check:
• Look for the BIS mark, symbolised by a triangle, on your gold jewellery.
• Cross-reference hallmarking costs on the bill with those set by Assay and Hallmarking Centres.
2. Caratage Verification:
• Check for the Caratage (e.g., 22K915) to ensure karat purity and fineness.
3. Store Verification:
• Confirm the store’s address on the jeweller’s license according to BIS guidelines.
4. Buy-Back Policy:
• Investigate the jewellery store’s buy-back policy to avoid losses during resale.
5. Return/Exchange Policy:
• Inquire about the jewellers return/exchange policy and keep all relevant documents for future reference.
6. Storage and Safety:
• Safeguard your investment by storing gold securely, considering options like a bank’s safe deposit box or a secure home locker. Insure your gold for added protection.
7. Making charges check:
• Be aware of non-negotiable making charges, considering design and market rates. Watch out for higher charges in luxury jewelry stores.
8. Cross verify gold price:
• You should always cross examine the gold prices offered by your jeweller with the latest gold rates.
There is anticipation of high demand for gold on this year’s Dhanteras, driven by good luck beliefs and global worries. This follows the 2022 trend, fueled by increased demand after COVID. Gold prices are up 22 per cent, and silver prices have risen by 21 per cent compared to last year’s Dhanteras.