Things to Remember While Buying Gold Jewelry
A shiny and elegant ornament made out of gold appears extremely pleasing not only to our eyes but also makes a great accessory for both men and women. Gold is one of the most selling precious metals worldwide. Various factors contribute to the high gold rate in the UAE. A lot of people purchase gold products as a direct investment to profit them when there is an increase in the pricing as it is a hedge against inflation. The fascination for gold goes beyond expectations when it’s festive or wedding season. Buying gold jewelry serves two purposes simultaneously; it is a financial investment and also turns out to be a great fashion accessory.
Well, irrespective of the occasion or reason you are buying gold jewelry there is always a steady demand for gold ornaments worldwide. Buying gold jewelry is not an easy task there are few things to be mindful about to get the best product. In this haphazard of buying gold, it is very common to make mistakes, but we are here to make sure you don’t make any mistakes during your jewelry shopping.
In today’s article, we’ll talk about all the things to remember while buying gold jewelry.
The unit that denotes the purity of gold and its products is karats. Gold at 24 karats is purest with an average of 99.99% purity; 22 karat gold is approximately 92-93% pure. Every one karat of gold is equal to 4.2% of pure gold which means that gold at 14, 16 and 18 karats are equal to 58.3%, 67.2% and 75% of pure gold respectively. It is very important to check the purity of gold before you purchase it. Various competent agencies certify the purity of gold products by marking the purity of the ornament.
The overall price of gold jewelry is made up of two constituents the first one is the value of gold in the ornament and second is the making charge. Gold after extraction is processed in various steps which are followed by working to turn pieces of gold into beautiful jewelry. The process of turning gold into jewelry requires expertise and therefore there is a labor cost that is associated with gold jewelry. Many times buyers are tricked to pay extra making charges; therefore, you should be aware of the making charges of the products before you purchase them.
Check the Weight
Most of the gold products are sold by weight in the UAE, with heavier pieces of jewelry being expensive than the lighter ones. Precious stones like ruby, emerald, and diamonds are studded over the gold to make it more attractive that increases the price of the jewelry. Jewelers weigh the products in their entirety which often results in buyers paying more than what they are supposed to pay.
Festive and Wedding Seasons
The demand for gold increases steeply during festive and wedding seasons therefore to avoid paying extra for the same products you can always consider purchasing gold during off-season periods.
There are many jewelry stores across the globe. Buying gold jewelry from small non-reputed stores can be risky as there is always a possibility of getting impure gold or stolen products which can land you into great trouble. Always prefer purchasing gold from reputed stores as there is a guarantee of purity.
Check for Buy Back Service
A lot of jewelry stores provide an option of buy-back, wherein you can old jewelry for a new one. The design and trend of jewelry might change but the value of gold remains the same. Discussing buy-back options from your jeweler can help you to save some money.
The gold rate in the UAE is quite dynamic and therefore keeps on changing with time. While buying gold jewelry you should always check the current gold rate in UAE and then decide whether it’s the right time to buy or not. With all the above-mentioned points in consideration, you’re probably going to the best deal at the best price.