Things to do while shopping for Gold in the Local Market

We prefer something solid and within our control when we think of long-term investments. While stocks are ways to earn quick money, they tend to be lost that quickly, thanks to anyone deciding to hack the stock market. Hence, investing in land or precious metals like gold is always suggested. The prices of these commodities are relatively 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 entirely under your control as to when you want to sell it and for how much.

That said, we do only sometimes think of gold in terms of investments. Instead, gold is an obsession with most people, especially gold jewelry and coins, which make great collectibles. Gifting gold is believed to be a blessing of good luck, and many ancient texts claim the many health benefits of gold. But whatever your reason, you just cannot avoid getting your hands on small gold earring designs you fell in love with at first sight. However, there are points to consider when purchasing gold, especially at the local market.

Tips to remember:

Check for the karat. As 24k is too soft and hence unsuitable for jewelry, we have 22k as the purest form with 22 parts gold and 2 parts nickel or copper. If a jeweler claims a piece of jewelry to be 22k, you can check it by squeezing it. 22k gold will have a slightly soft feel compared to 20k or 18k. You need to perform this test because local stores only have hallmarked jewelry sometimes.

The weight of the jewelry should be accounted for. Since you are buying the gold in weight, you have to be sure that you are getting pure gold, 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 a touchstone and performing a nitric acid test. You are paying for it; you have 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 sell it to the maker and get most of the amount you paid as the price you might get cut out of if you sell it anywhere else.

One of the drawbacks of local stores is the need for more designs, but it is made up with the lesser amount the charge for the making. Hence, you can make your plans, which will cost much more from a branded store. Therefore, you can pick any gold bangle design with a price that is not harsh on you.

Even in the local market, some stores have been there for generations and are more trusted than others. Make inquiries about a few of the stores from the locals before entering.

Before stores and online shopping, people went to goldsmiths, and these local jewelers used to carve intricate designs, which are now valued as antiques. It is safe to say that local is sometimes good.