Let the right 'gold' pour in this Akshaya Tritiya!

April 24, 2012 12:46
Let the right 'gold' pour in this Akshaya Tritiya!

Irrespective of your budget and even within your budget you are on a shopping spree at least today, on the occasion of Akshaya Tritiya, another major and fantastic reason to buy gold. Before heading to buy gold/diamond Jwelley, here are some tips that can help you to buy the best and with a minimal loss of your money in the name of ‘wastage’;

Searching around for the best price is important as the prices can vary. The smaller amount of gold you buy, for example, means the higher cost per ounce or gram. Due to fabrication costs and other factors, a one or half ounce bar (or biscuit as it is known) can cost twice as much as the value of the gold. Yet a larger bar will have a more acceptable cost attached to the value of the gold. The price you see in the news is not the actual price of gold. It is the price of gold futures . To see the actual price of gold you have to look at what dealers are charging. You can also get a very good idea from auction sites such as eBay which will show the current value people are placing on gold. Here you would not look at what people are asking but what people are paying.

Choose a reputable jeweler; if you don't have someone in mind, ask family, friends, and colleagues for recommendations, or consult a professional in the jewelry industry.

Find out what type of paper certification should accompany the piece you're considering, and make sure it comes with the jewelry. Make sure the jewelry you buy is marked with the manufacturer's trademark.

Remember the four Cs - color, cut, clarity, and carats - when purchasing diamonds. These characteristics might not be the main reason you choose one piece over another, but they are good guidelines when assessing overall quality.

Keep in mind that the carat weight of diamonds refers to the amount in the entire piece. A one-carat diamond solitaire ring or pendant is much rarer, and much more expensive, than a one-carat total weight necklace or tennis bracelet.

When you evaluate the price of a jewelry piece, consider design and construction as well as the above factors. The more handwork there is, the more unique the piece and the higher the price. Intricate, lightweight pieces are usually machine-made; they are also quite beautiful and are more affordable than handcrafted jewelry. Whether the piece is delicate or heavy, make sure the clasps are secure and that there is a safety catch so you don't lose your jewelry.

The best way to save gold is to accumulate some at regular intervals. This is regardless of the gold price. Each month or each regular period, just buy some gold. The price may be up one month or down the next. It does not matter. It is the consistency that counts. The value of your gold will even out and tend to rise in the long term as the value of gold goes up against the value of currency.

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