Buying gold during Diwali festival? Beware! Don't do this
The demand for gold during the festive season jumps significantly even if the price is high. However, this gold buying trend has led to a sale of fake and cheap gold in the market.
The demand for gold during the festive season jumps significantly even if the price is high. However, this gold buying trend has led to a sale of fake and cheap gold in the market. Many times jewellers loot people by selling fake gold, luring them through cheap rates. According to a jeweler in the bullion market, the greed to buy cheap gold can led to big losses for customers. If you are also planning to buy gold jewellery this festive season, then pay attention to these things and under no circumstances should you make the mistake of falling into the trap of fraudsters.
Adulteration in Gold
A jeweler from Sarafa Bazar, Delhi told Zee Business that some jewelers in Delhi are also selling a special kind of powder mixed gold this season. This significantly reduces the price of gold and the customer becomes a victim by being trapped by the temptation of buying cheap gold. This special type of powder is mixed in gold in such a way that it is difficult to detect it even during the investigation. The jeweler said that this powder like cement is brought to India from foreign markets.
Powder cannot be detected
It is very difficult to detect this powder in gold. Therefore, in case of any investigation, the jewelry has to be reduced to pieces. Also, the customers should not fall for any kind of discount or lucky draws.
Buy jewelry only after seeing Hallmark
The customers should always be careful before buying jewelry from any local shops unless there is a hallmark on it. Hallmarked jewelery is a guarantee that it is pure, as it is certified by the Bureau of Indian Standards.
Don't forget the slip
There is a trend of taking raw slips while buying gold coins or jewelry. Many times the jeweler does not recognize his raw slip at the time gold is returned. The bill should mention the gold carat, purity, making charge, hallmark and other details.