Gold Buying Tips: Are you buying illegal gold before Diwali? How to find out?

Diwali is just a few days away. People are investing heavily in gold and silver during this time. But if the gold is illegal or not pure, a large amount of money invested could be wasted.

Therefore, it's important to keep a few things in mind before buying gold. Let's find out:

How to determine if gold is illegal?

You must ensure that the shop you're buying gold from doesn't engage in any kind of tampering. The shop owner should mix the gold with genuinely obtained gold. It has been observed that many shop owners melt illegally obtained gold and turn it into new jewelry, then sell this jewelry in their shops.

You must choose a shop owner who buys and sells gold legally. To do this, look for a shop owner who has the Bureau of Indian Standards (BIS) hallmark.

If you pay attention to the assay report, invoice source, and supplier when purchasing gold, you can avoid buying illegal gold. Also, only buy hallmarked jewelry. Also, when purchasing gold, be sure to obtain a guarantee card and assay report from the seller.

If you receive an invoice from a gold dealer, pay attention to the various details listed on it. For example, the price of gold on that day, the making charges, wastage, and taxes should be listed on it.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.