Dhanteras is an auspicious day that calls for merriment, social gatherings and festive food, and likewise even in the United States.
What is a better way to match the shining lights than the glow of gold jewelry?
It's simple: Invest in Gold Jewelry!
Dhanteras is a sacred ritual to buy gold and engage yourself in themes of cleansing, renewal, and securing of auspiciousness in the form of Lord Lakshmi.
It's the first day of the 5-day long Diwali celebrations. Dhanteras sets the celebratory mood for the Diwali celebrations; it's the right time to take a lucrative step and invest in gold.
However, unlike the years gone by, this year has been quite a dramatic one – thanks to the COVID-19 crisis.
Unfortunately, the virus has caused unexpected financial markets unexpected trends, with gold prices rising high in recent times. Probably, you all might be thinking about buying gold or not this Diwali?
Especially during this unprecedented situation, the yellow metal is a smart and direct way of investing in gold—this Dhanteras, welcome Goddess Lakshmi into your homes in the form of gold jewelry.
Keep these things in mind whenever you buy gold during Akshaya Tritiya, Dhanteras, and Diwali.
7 Essentials to Consider Before Buying Gold
- Gold Purity
There are two parameters to measure the purity of gold in the market:
24 Karat gold is considered the purest form of gold, while 22 Karat is mixed with other metals like zinc or silver. Thus, 22KT gold is considered to be more durable than 24KT. However, for making ornaments, 22KT gold is used since 24KT gold is soft and prone to damage.
On the other hand, fineness is measured in purity in parts per thousand. Fineness in a gold coin is defined as the weight of pure gold in proportion to the gold coin's total weight, including the impurities. Therefore, 24 Karat gold is 99.9% pure, and 22 Karat gold is 91.66% pure.
As per the World Gold Council, even the purest gold contains a minimal amount of impurities that even manufacturers cannot remove. Thus, you cannot buy 24KT gold jewelry, but a gold coin is always a good choice.
You can invest in gold coins in various gold purities, including 23 Karat, 21 Karat, 20 Karat, or 18 Karat. Most people prefer purchasing gold coins in either 22 Karats or 24 Karats since it's considered a good investment.
- Gold Weight
It’s crucial to check the proper weight of your gold coin or jewelry before investing in one. Usually, gold coins are available in the market ranging from 0.5g to 100g in weight. However, people buy in weights of 10g and less.
Even though you choose your preferred weight or denominations, the availability depends on your online jeweler. In several gold jewelry stores, you may get a standard range of small gold coins from 1g, 2g, 4g, and 8g, known as a guinea.
- Gold Hallmarking
The gold hallmark indicates that the gold content in jewelry has been evaluated and adheres to the international standards of purity. In the US, there’s no such official gold hallmarking system; instead, there are independent assaying agencies across states and cities.
Look for a trademark stamp to identify its origin.
- Making Charges
You all might know that gold coins are relatively more accessible and cheaper than buying gold jewelry. They allow you to purchase the purest form of gold in the lowest weight of 0.5 grams with lower making charges. This is the lowest compared to gold jewelry that demands higher making charges depending on their craftsmanship.
- Gold Jewelry Resell
Customers get a 100% return on gold jewelry (except for the labor charges) if they don’t like the jewelry piece.
Even though the making charges for jewelry are higher than a gold coin, your coin cannot define a fashion statement. If you prefer reselling your gold jewelry or coin, then the refund charges aren’t refunded, and you get the amount of the gold based on the prevailing prices on the day of reselling.
You may get an increment if gold prices are high on a particular day, or else you may be unlucky to earn good cash.
Are you planning to invest in gold this festive season?
Let us tell you that gold acts as a hedge against inflation.
During these current volatile times, the prices of certain commodities are rising faster than anything else. Despite all this, gold investments are likely to increase in value in the long haul.
Fortunately, the surge of gold prices has been notable this year. It almost doubled over the past 1 year and has been good news for many investors like us.
Thus, gold is widely known as an inflation hedge as it’s the price in U.S. dollars is variable. By doing so, you are protected against the falling dollar because as inflation rises, the cost of gold in dollars will increase gradually.
Gold is also highly liquid, which means it can be quickly exchanged for cash during emergencies. Sounds great?
Rely on Sona Jewelers for the finest gold and diamond jewelry. We are a family-owned business offering Indian traditional and modern jewelry for weddings and auspicious events since 1989. Every jewelry is certified under GIA, and we inspect every diamond that comes in and moves out of the house.
Concerned about your safety while shopping in this pandemic?
Don’t worry, we at Sona Jewelers are taking all the necessary precautions for our customers and staff members:
- For a safe in-store shopping experience, every customer's temperature is checked.
- We provide masks and hands are sanitized at the main door.
- The store is cleansed with air purifiers, and signs are placed to help you keep a distance from one another.
- Every item is sanitized after every single use.
- You will find all our staff members in gloves and masks and maintain social distance.
- From underneath the clean counters you can you can look through our collection with our employees at your service will help you handle your desired products.
- When you want to purchase, you can head towards a register counter where shields are placed for safety, and finally our employee will escort you towards the main door where you can safely dispose off your masks and gloves.
Are you ready for your Diwali shopping? Book an appointment today!