Things to Remember Before Buying Gold Jewellery in Jalandhar
Jalandhar is one of the most sought-after places for buying gold jewelry. Considering the gold rate today in Jalandhar, if you are too caught up to buy some gold from this place, you’ll find this information bona fide!
Be aware of the Gold Prices charges:
Leading Jewelers or for that matter even local jewelers always quote a higher price by the karat. Assume the prevailing rate of gold as 3000 per gm for 24K. So for example, if you are buying a 22K gold ring the price per gm you must pay is 22K/24K*3000 = 2750. But they always charge you higher about 5-8 percent as most customers do not question and don’t exactly know how it must be calculated. So they end up making a profit on the prevailing gold rate.
Paying for everything by the price of gold:
At times there are gold designs with colored stones, pearls, artificial diamonds, etc. studded into the gold and people end up paying for them in the price of gold if they do not ask the jeweler to deduct their weight from the gold item.
The truth behind the actual Karat:
Previously a jeweler charged you for 22K and was assumed to be 22K but in general, it used to be always around 18K. Though this practice has reduced to almost negligible because of the government’s effort of pushing for Hallmarked Jewelry. So always buy only Hallmarked Jewellery.
Making Charges:
Jewelers generally charge you approximate 400–500 per gm as making the charge that is about 15–20 percent of the gold price charged. But in reality, these charges for them are as low as 200 per gram.
Yellow, Rose and White Golds are priced the same:
Jewelers always demand a higher price for white gold and rose gold making. But this should not be the case as it turns out they just have to mix a few alloys to get that particular gold color. So never pay higher whatever the color of your gold.
Buy Back of Gold Jewelry:
Always ask about return policies as they follow the 99:1 policy which says 99 percent of the buyers never come back to sell their Jewelry. So drill your seller on their buyback policies and you can make them eat their words back or take the jewelry in case you have to return it in the future.
If you can master the above steps you can never just go wrong. Never go by the words of a particular seller as he wants to get the money from your pocket to his.
FAQs on Gold rate in Jalandhar
- What are the factors that determine gold prices in Jalandhar on a daily basis?
Gold prices in Jalandhar on a daily basis are determined by demand, interest rates, and government policies.
- Is marking mandatory on gold purchased in Jalandhar?
Yes, marking of the value is compulsory in case gold is purchased in Jalandhar. The marking is called 'Hallmarking'.
- Will the prices of gold in Jalandhar be the same as in the rest of the cities in India?
No, the prices of gold in Jalandhar will be different from the other cities in India because of local taxes.
- Can fixed deposit interest rates impact the prices of gold in Jalandhar?
Yes, any change in the fixed deposit interest rates can impact the prices of gold in Jalandhar.
- Is there any difference between 22 carat gold and 24 carat gold in Jalandhar?
Yes, 22 carat gold contains other metals apart from gold, while 24 karat gold contains does not contain any other metals.
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