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Rediff.com  » Business » Are you buying pure gold?

Are you buying pure gold?

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March 14, 2006 09:25 IST
If you believe that your gold jewellery is made of pure gold (22 carat), think again!

India is the world's largest consumer of gold, but is this gold pure? Jewellery makers are supposed to get the gold tested through the Bureau of Indian Standards labs. However, to evade tax and make a quick buck, instances of even top jewellers selling gold that is not really pure abound.

The Bureau of India Standards pegs the consumers' loss due to shortage of purity in gold jewellery at a whopping Rs 6,000 crore every year. Many consumers are duped with 18 carat gold which they realise only after years when they go to sell it. Are you aware of this alarming trend?

Buying jewellery for special occasions like marriages and keeping it as a safe investment option could be in vain, if you have been palmed off gold that is not pure.

Experts say the only way out of the problem is to buy hallmarked gold (Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in gold). 22 carat gold is considered pure if it gets a rating of 916.6 on a scale of 1000.

What do you think about this? Do you think the gold you buy is pure?

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