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Things to do while shopping for Gold in the Local Market


When we think of long term investments, we prefer something solid and within our control. While stocks are ways to earn quick money, it tends to be lost that easily thanks to anyone deciding to hack the stock market. Hence, it is always suggested to invest in land or precious metal like gold. The prices of these types of commodities tends to be fairly stable and if you come from a culture where gold is gifted at almost every auspicious occasion, then gold is the right fit for you. Investments in gold are reliable and completely under your control as to when you want to sell it and at how much.

That said, it is not always we think of gold in terms of investments only. Rather gold is an obsession with most people, especially gold jewelries and gold coins which makes great collectibles. Gifting gold is believed to be a blessing of good luck and there are many ancient texts which claim the many health benefits of gold. But whatever is your reason, you just cannot stay away from getting your hands on small gold earrings designs that you fell in love with at the first sight. But, there are points to be considered when you are purchasing gold, especially at the local market.

Tips to remember:

Check for the karat. As 24k is too soft and hence unsuitable to be made into jewelry, we have 22k as the next purest form with 22 parts gold and 2 parts nickel or copper. If a jeweler claims a particular piece of jewelry to be 22k, you can check it by squeezing it. 22k gold will have a slight soft feel as compared to 20k or 18k. The reason you need to perform this test is because local stores do not have hallmarked jewelries all the time.

Weight of the jewelry should be accounted for. Since you are buying the gold in weight, you have to be sure that what you are getting is pure gold and not just gold plated. While the expert eye can tell the difference, always ask the jeweler to show you the quality by rubbing it with touchstone and perform a nitric acid test. You are paying for it, you gave every right to know what you are paying for.

Check if the jeweler has buyback options as any branded stores have. If you need to change it or sell it, you can then sell it to the maker and get most of the amount you paid as the price which you might get cut out of if you sell it anywhere else.

One of the drawbacks of local stores is the lack of designs but it is made up with the lesser amount the charge for the making. Hence you can get your designs made which will cost you much more if done from a branded store. Hence, you can pick any gold bangles designs with price not being that harsh on you.

Even in the local market, there are stores which are there for generations and are more trusted than another. Make enquiries about a few of the stores from the locals before entering the store.

Before there were stores and online shopping, people went to goldsmiths and these local jewelers used to carve those intricate designs which is now valued as antiques. It is safe to say that local is not always bad.

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