Keep these 5 points in mind when buying gold and silver, or else you could lose thousands..

If you are planning to buy gold or silver jewelry, this information is crucial for you. Often, people visit a jewelry shop, pick a design they like, and make a purchase without checking the gold price, hallmarking, or making charges. Consequently, they may end up paying more than necessary, as making charges for different designs can range from 30% to 50% or even higher. Therefore, it is essential to be aware of certain key factors before buying jewelry. Let us look at what you should pay special attention to when purchasing jewelry so that you can avoid unnecessary expenses and buy at the right price.

**Check the purity of the jewelry**
When buying jewelry, the first step is to verify its purity. The hallmark on the jewelry is considered the most reliable indicator, as it officially certifies the gold's purity and quality. Therefore, always choose gold with the BIS (Bureau of Indian Standards) hallmark to ensure you get the right quality and value.

**Know the jewelry price beforehand**
Before heading out to buy jewelry, check the current market rates for gold and silver in your city. This helps you determine whether the rate quoted by the jeweler aligns with the market price. When the bill is being prepared, verify the gold/silver rate, making charges, and other fees to avoid being overcharged.

**Always ask about making charges**
Always inquire about making charges at different shops before making a purchase. When you like a piece of jewelry, ask for details regarding its weight, the price of gold per gram, and the applicable making charges. This allows you to compare prices accurately, secure a better deal, and avoid unnecessary costs.

**Always get a proper bill**
People often skip getting a proper bill when buying jewelry, either due to haste or in an attempt to save on GST. However, this mistake can prove costly in the long run. The bill is the most crucial document in matters concerning the purity, price, exchange, or buyback of jewelry, or in the event of any complaint. Therefore, always insist on a proper bill when purchasing jewelry and carefully verify all the details recorded on it.

Do not buy jewelry without checking the weight.
Many people finalize a purchase as soon as they like a design and make the payment without properly verifying the weight. However, this can prove to be a major mistake. Even a slight difference in the weight of the gold significantly impacts the price, as the cost of just a few milligrams of gold can amount to hundreds or thousands of rupees. Hence, when buying jewelry, verify the weight yourself and cross-check it with the weight mentioned on the bill to avoid paying extra.

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