There are several reasons to put your gold to good use. For starters, people are always looking for the best way to generate high returns. On that note, gold has forever been the conservative investor's best avenue for yielding high returns. With the introduction of Gold ETFs and Sovereign Gold Bonds, the demand for gold has been steadily increasing. The top advantage of gold against cash is that the gold gram rate has never dipped below zero in it’s more than 3000-years' history. Gold also functions as a hedge against financial market fluctuations. Hence, whenever there is a recession, people move towards gold. Additionally, gold is a liquid asset, which means you can either sell it or pledge it in exchange for instant cash loan. Unlike physical money, gold is portable and can be stored anywhere. Lastly, identifying high-quality gold does not require expert understanding. Anyone can buy gold according to its purity while the seller's certificate acts as the proof of its purity.
“Karat” is the internationally recognized term used to denote the purity and weight of gold. Higher the Karat, better the purity of gold.
1) 24 Karat: 24 Karat gold is the purest and most expensive form of gold found in the market. Owing to it’s pliability 24-Karat gold is not usually used to make jewellery and is instead used for investment purposes, in the form of coins or bars.
2) 22 Karat: 22 Karat gold is generally used in the jewellery industry. In this type, pure gold is mixed with several alloys like zinc, nickel, or silver to make the gold harder and fit for jewellery. Generally, 22 Karat gold is 91.67% pure.
3)18 Karat: 18 Karat gold is the gold that is prepared by mixing 75% gold with 25% other alloys. 18 Karat gold is the cheapest type of gold available in the market.
Gold has always been one of the most significant investment options for Indians. The high liquidity of gold and its consistent value makes it a popular option for investment purposes. It also acts as a hedge against fluctuations in the market. Gold can either be pledged in the form of a gold loan or it can be sold to meet urgent financial deficits. It pays to be aware of the value of gold to prevent unscrupulous activities by the lenders or jewelers. It is not very complicated to calculate the value of the gold. The weight and the purity of the gold will have to be tested at an assaying laboratory. There are two methods to calculate the purity of the gold. It can be denoted in percentage or in karat.
When it comes to buying gold for jewellery or investment purposes, people often get confused about the purity and quality of the gold. The two most commonly confused types of gold are KDM gold and hallmark gold. KDM gold refers to the gold that is made by mixing cadmium with gold, where gold is 92% and cadmium 8%. This brings down the gold's purity level to 92%. However, of late, the production of KDM gold has stopped, due to the associated health risks. Hallmark gold is gold certified by the Bureau of Indian Standards. The test is conducted at the assaying centres approved by the BIS. Hallmark gold is available in four varieties:
Higher the carat, better the purity. Hence, depending on how you plan to use the gold, you may select the carat.
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