Kolkata: Indians buy gold throughout the year. be it social occasions or religious ceremonies, a touch of gold always adds that extra zing in most households. However, whenever one buys gold, the nagging apprehension is whether the gold one is buying is pure, or at least, as pure as claimed. There are a few ways in which a lay person can check the quality of gold one is about to buy.
Unfortunately, there is no dearth of unscrupulous goldsmiths or gold retailers who are always seeking opportunities to pass off inferior quality gold as higher quality. To ensure that such evil designs are defeated, it is essential to know how one can be sure about the purity of the metal one is buying with his/her hard-earned money.
Proper BIS hallmark
In order to introduce some discipline into the unregulated sector of gold, the Centre had introduced BIS hallmarking scheme for gold jewelry in 2000. Hallmarking for gold jewelry was made mandatory from June 23, 2021 in 256 districts and then from April 4, 2022 an additional 32 were added. The third phase began from September 8, 2023. The BIS (Bureau of Indian Standards) hallmark is a reliable certification for gold that tells the buyer that the metal conforms to the purity standard being claimed. The hallmark states details like purity in karats and the identification of the jeweler.
The HUID number
Significantly, every item of hallmarked gold jewelry bears a HUID number which is unique. HUID stands for Hallmark Unique Identification (HUID) number. This number is supposed to signal authenticity and anyone can get this number verified at the BIS Care App. It will highlight the purity, registration, and hallmarking center details of the piece of jewellery purchased. The BIS Care App can be downloaded from the app store of any smartphone. The buyer can enter the HUID in this app and verify the quality of the gold he/she is about to buy. It will also reveal the details about the jeweler and hallmarking center.
Magnet test
Gold retailer say that one can also try out a magnet test — touching a piece of gold jewellery with a magnet. Genuine gold will not attract a magnet. Another point is that the customer should always ask for a bill from the seller. It should mention the weight, karat of the gold and hallmark certification of the jewellery. Gold jewelry is usually available in India in 22 carat, 18 carat and 14 carat. Pure gold is 24 carat which is used to make coins and bars. Jewellery cannot be made from 24 carat gold.
Checking purity of the gold one is buying has always been a nagging issue at the back of the mind of all buyers. It has become all the more important since the price of the yellow metal has reached dizzying heights. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
