Mumbai is the financial capital of the country and is also one of the biggest markets for gold consumers. Wearing gold jewellery has been a part of the Indian culture and following the suite, wearing gold jewellery is a tradition in Mumbai as well. So, if you are going forth to buy gold jewellery, it is important to keep the 3 things in mind mentioned below:
- The Gold rate
The gold rate in India varies in each city and also each day. There are different factors that contribute to the change in the rate of gold. So, when buying gold, do check the gold rate in Mumbai.
This is absolutely essential as by checking the gold rate, you might be able to get the jewellery at the lowest cost. This can be understood by looking at the gold rate trend of May for per gram of 24k gold.
Rate on 1st of May: Rs.3,061
Rate on 31st May: Rs.3,046
Highest Rate of Gold in May: Rs.3,061
Lowest Rate of Gold in May: Rs.2,956
Overall Performance Decline of -0.49%
- The purity of gold
Before buying jewellery, it is absolutely essential to ascertain its purity. The purity of gold can be ascertained by the BIS Hallmark. 24k gold is the purest but it is too soft to be made into jewellery. This is why jewellers use 22k and 18k gold. Also, when buying gold jewellery, make sure that you ask the jeweller to weigh the piece as gold is sold by weight.
- The reputation of the jeweller
Do verify the reputation of the jeweller. By doing so, you are ensuring that you are making a worthwhile purchase. Also, do bargain on the making charges that are being asked by the jeweller.
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