Akshaya Tritiya 2019 is being celebrated today across the country. This is one of the few auspicious days Indians prefer to purchase gold. Though most people buy gold in the form of jewellery, a number of people are also preferring to buy gold ETFs and sovereign gold bonds.

However, if you are among those who prefer jewellery, here are the few aspects you must bear in mind:

Purity level: Gold’s purity is denoted in karats, with 24-karat gold being 99.9% pure and 22-karat gold being 92% pure. Never never purchase gold jewellery without checking its purity. However, keep in mind that 24-karat gold is not suited to make jewellery, which is why jewellers use either 14-, 18- or 22-karat gold.

Buy hallmarked jewellery: When purchasing gold or any other precious metal, you have to ensure that you get good quality of gold. Thus, prefer buying gold jewellery that comes with Hallmark certification as this certification helps in authenticating the purity of the yellow metal.

According to the World Gold Council, gold hallmarks originated to show the purity of gold in a piece of gold jewellery and included the mark of the assaying office that certified the purity as well as the fineness or caratage of the gold. Later, trademarks that showed which goldsmith had manufactured the product were added.

A gold hallmark in India mentions the jeweller’s identification mark, the year of hallmarking, karats and the stamp of the Bureau of Indian Standards (BIS).

Price of gold: Gold price is determined based on the purity of gold. The price of gold changes every day based on the market rate. All jewellery stores display the daily bullion rates for consumers. One should first look at the bullion price and then discount it based on the purity of gold. For example, if the cost of 10 gm gold is 32,500 at bullion rate, then price of 22K gold (91.6% purity) will be around Rs 29,770.

Making charges: Making charges are essentially the labour charges involved in creating and manufacturing jewellery pieces. Making charges vary depending on the type and design of gold jewellery and also whether it is machine-made or hand-made. Machine-made jewellery tends to be cheaper than man-made jewellery. Making charges are also levied on per gram basis and are linked to the gold rates. Avoid precious stone-studded ornaments: If you are buying gold because you see yourself wearing it or passing it down the generations, then, by all means, purchase whatever you like. However, if you are buying gold as an investment, to be liquidated when the need arises, then stay away from stone-studded jewellery. The reason for this is that when you’ll buy the ornament, its weight will be calculated along with the weight of the precious/semi-precious stones. In contrast, when you go to sell the same ornament, the weight of the stones will be deducted, and you would get a lower amount than the total weight of your jewellery piece.