Dhanteras: Things to remember while buying gold this Diwali
Be it any occasion, Indians love to dress up with a touch of gold jewellery. Dhanteras is considered as most auspicious day for Indians to purchase jewellery.
The five-day Diwali festival hass begun with Dhanteras – also known as Dhanatrayodashi or Dhanvantari Trayodashi, on October 17, 2017.
On this day, jewellers usually see massive rise in demand for yellow metal every year either in the form of jewellery or coins. Considering this, here's a list of things that you need to remember while purchasing the yellow metal.
Know the Purity of Gold:
Purity of gold is denoted in karats – with 24 karat gold being 99.9% pure and 22 karat gold being 92% pure.
Each karat of gold is equivalent to 4.2% pure gold, which means that 14 and 18 karat contains only 58.33% and 75% pure gold, respectively.
24 karat gold is not suited to make jewellery, which is why jewellers use either 14, 18 or 22 karat gold.
Making charges:
Current gold rates usually include making charges - so it is important to insist on fixed making charges otherwise one can be fooled by jewellers in paying higher making charges.
Gold jewellery prices can be calculated by Gold price per gm)* (Weight in gm) + (Making charges)*(Weight in gm) + GST.
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