Gold is a traditional part of most celebrations, and it is a great investment, as well. A lot of people prefer spending on physical gold because it’s tangible and always in demand. In case you need immediate money, you can always reach the nearest seller to get an authentic spot price for your gold. In case you have confusions buying gold for the first time, we have a few tips that will come in handy.
An overview of karats
Let’s start by saying that there is nothing called pure gold. Yes, you read that right. Even the pure gold coins and bullions that you buy have just 99.9% gold. This is because pure gold is pretty brittle and not suitable for practical use. It is mixed with another metal to create those gold bars and coins that you find in the market. Since we are focused on jewellery here, most of the products that are available in the market are usually made of 22k or 18k gold. For instance, 22k gold is about 92% gold, while 18k gold has just 75% gold. You will also find 14k gold, which contains around 58% gold.
Choosing your jewellery
While it might be tempting to get jewellery made of 24k gold, it isn’t a viable option because the metal itself is prone to breaking. If you are buying gold jewellery for the sake of investment, 22k gold products are your best choice by all means. For diamonds, 18k gold is usually selected, while 14k gold products are not uncommon either. For regular use, jewellery made of 14k or 18k gold is the best option by all means. Be careful of terms like GP, which means gold plated. Products that are gold plated are usually made of one alloy and is dipped in molten gold to mimic the effects.
Where to buy?
There are a bunch of online stores that sell gold jewellery. Some of these use simple filters, so that you can design necklace or any other product as per your requirements. Hallmarked gold jewellery should be your first preference if you want the gold to fetch the right value in the future. You also need to check if the concerned seller or brand is a known one, because it makes a difference. The range of designs and styles that they have on sale is another aspect to check for.
Do your homework to shop like a pro!