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Gold-Silver Prices on Dhanteras: The decline in gold and silver prices for the last several days stopped today on Dhanteras. In the bullion market today, 24 carat gold rose by Rs.348 to Rs.60445. per 10 grams, while silver prices also rose by Rs.550 per kg. Gold hit its all-time high of Rs. 61739 has now become cheaper by Rs 1294. While silver is around Rs 6800 cheaper compared to May 5 price.
Also read: Dhanvarsha is making gold from Dhanteras to Dhanteras, giving huge profit of 22%, price may rise to ₹70000 in 2024
Today’s rates are announced by the India Bullion and Jewelers Association (IBJA). GST and Jewelery Making Charge are not applicable on this rate of gold and silver. It is possible that gold and silver may be expensive by Rs 1000 to 2000 in your city. What should be considered while buying gold? Let’s understand the game of gold purity, hallmark, HUID and carat in detail from our experts…
On questions being raised about the purity of gold and its testing, Atul Saraf, founder of Ashpra Gems and Jewellery, says that all kinds of fake hallmarked jewelery is being sold in the market. The biggest reason behind it is gold smuggling. He said that you should buy from shops that have genuine hallmarks and full assurance of authenticity. There should be no reduction in buy back.
Where the game takes place: According to Atul Saraf earlier stitched jewelery was in trend. Gold was soldered with a mixture of copper, silver and zinc. This increase affected the purity of gold. There was great variation in the purity of the joints and skin of the jewelry. The biggest game was played here. The more a piece of jewelery is stitched, the worse its purity. The trend of stitched jewelery is now little or non-existent. Now gold is combined either with gold, or with a small amount of zinc. Adding it causes evaporation of zinc.
Why the need for Hallmark?
Saraf says that earlier the jewelery was 23 carats, but due to stitching, its purity remained 18 carats. Most of the jewelers were charging 23 carats to the customers and giving 18 carat jewellery. Always keep these things in mind
- Be sure to get a guaranteed receipt. This receipt will give you a full buy back guarantee.
- Make sure the buy back guarantee is clearly written on the cash memo.
- The cash memo must have the HUID number so that in case of doubt, you can get it cross-verified at any Hallmark Centre.
- If the shopkeeper has a carat meter, be sure to check it for accuracy.