BTTV’s Guide to Buying Pure Gold on Dhanteras: Understanding Hallmarks and BIS Standards
Learn how to make the right choice when buying pure gold on Dhanteras by understanding the importance of hallmarks and BIS standards.
DhanterasPure GoldBis HallmarkBureau Of Indian StandardsGold BuyingReal Estate NewsOct 29, 2024
Understanding the Significance of DhanterasDhanteras is not just a day for buying gold; it is a tradition rooted in deep cultural and religious significance. According to Hindu mythology, it is believed that Goddess Lakshmi, the deity of wealth and prosperity, descended on Earth on this day. Hence, buying gold on Dhanteras is considered a harbinger of good luck and fortune.
Why Buy Pure Gold?Pure gold, often referred to as 24-karat gold, is the most valuable form of gold. It is free from impurities and is the purest form of the metal. While 24-karat gold is too soft for jewelry, it is often alloyed with other metals to make it more durable. Common alloys include 22-karat, 18-karat, and 14-karat gold.
The Importance of HallmarksA hallmark is an official mark or series of marks struck on items made of precious metals, such as gold, silver, and platinum. In India, the hallmark is a mandatory certification issued by the Bureau of Indian Standards (BIS). It ensures that the piece of gold you are buying meets the specified standards of purity.
Bureau of Indian Standards (BIS)The Bureau of Indian Standards (BIS) is the national standards body of India, established under the BIS Act, 1986. BIS is responsible for the promotion of standardization, quality certification, and the hallmarking of precious metals. When buying gold, always look for the BIS hallmark, which is a mark of assured quality and purity.
What to Look for in a Hallmark?1. BIS Symbol This is the official logo of the Bureau of Indian Standards.2. Purity in Carats (Ct) or Hallmark Purity Number (HPN) For example, 22-karat gold will be marked as 22Ct or 916 HPN.3. Assaying and Hallmarking Centre’s Mark This mark indicates the center where the gold was tested and hallmarked.4. Year of Marking This helps you identify the year in which the gold was hallmarked.5. Manufacturer’s Mark This is the unique mark of the jeweler or manufacturer.
Tips for Buying Pure Gold on Dhanteras1. Research and Compare Before making a purchase, research different jewelers and compare their prices and quality.2. Check for Hallmarks Always ensure that the gold item has the BIS hallmark.3. Understand the Making Charges Gold jewelry often comes with additional making charges. Understand these charges and negotiate if possible.4. Ask for a Certificate A BIS hallmark certificate can provide additional assurance of the gold's purity.5. Consider Investments If you are buying gold as an investment, consider buying in the form of coins or bars, which are generally more affordable and easier to store.
ConclusionDhanteras is a wonderful opportunity to buy pure gold, but it is essential to make an informed decision. By understanding the importance of hallmarks and BIS standards, you can ensure that your purchase is both valuable and authentic. Happy Dhanteras!
About BTTVBTTV (Business Today TV) is a leading financial news and business channel in India, providing comprehensive coverage of the stock market, economy, and business news. BTTV aims to empower viewers with the knowledge and insights needed to make informed financial decisions.
Frequently Asked Questions
What is the significance of buying gold on Dhanteras?
Buying gold on Dhanteras is considered auspicious as it is believed to bring good luck and prosperity. According to Hindu mythology, Goddess Lakshmi descended on Earth on this day, making it a favorable time to make valuable purchases.
What is a hallmark and why is it important?
A hallmark is an official mark that indicates the purity of precious metals like gold. It is essential because it ensures that the gold you are buying meets the specified standards of purity and quality.
What is the Bureau of Indian Standards (BIS)?
The Bureau of Indian Standards (BIS) is the national standards body of India, responsible for promoting standardization, quality certification, and hallmarking of precious metals. The BIS hallmark is a mark of assured quality and purity.
What should I look for in a BIS hallmark?
You should look for the BIS symbol, the purity in carats or hallmark purity number (HPN), the assaying and hallmarking center’s mark, the year of marking, and the manufacturer’s mark.
What are some tips for buying pure gold on Dhanteras?
Research and compare different jewelers, check for BIS hallmarks, understand making charges, ask for a certificate, and consider buying gold in the form of coins or bars for investment purposes.
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