Anyone who has stood at a jewellery counter in Tamil Nadu knows the familiar pause before a purchase. The salesperson quotes a figure, the family exchanges glances, and someone inevitably says they saw a different number online that morning. Shoppers who regularly look up the 22 carat gold rate today usually do so because ornaments are made from this grade, and it is the number that decides what a bangle or necklace will cost. Across the port city, where jewellery buying is woven into weddings, temple visits and festivals, the question of today gold rate in Chennai is asked almost as often as the weather. This article helps you move beyond a single figure and choose ornaments with confidence, patience and a firm grip on your budget.
Why Ornaments Use This Particular Grade
Pure gold is a soft metal and hence cannot hold intricate detailing. A chain made of it will sag, and a stone set in it will easily fall out. Hence, to make it strong enough to hold detailing, some other metals like copper or silver are mixed with it in minute proportions. The most common Indian gold jewellery composition contains about ninety-one per cent gold, which gives it that beautiful yellow hue we all love, while making it hard enough for regular use.
Knowledge of this information comes in handy while comparing quotes. The rate cited for the purest form will always be higher than the ornament one. These two rates are often mixed up unknowingly while comparing different shops, so always enquire if the quoted rate is for pure gold or the ornament-grade one.
Final Bill Breakup
The rate per gram is just the beginning. It needs to be multiplied by the total weight in grams, and then the making charges are added to it on which tax is applied. The amount of the precious stones (if any) is either mentioned separately or the weight is deducted while levying the gold price. It is advisable to ask the jeweller to break down the final amount per piece/product so that you can compare the offers of two shops. One jeweller quoting a lower price might actually be charging more for the making charges. It is always better to calculate the final amount on paper before buying so as to prevent any surprises later.
A Smart Way to Buy Gold
Most people tend to wait for a dip in gold rates which never really comes. While others panic at the sight of a jump in the rates, rushing to buy in an impulsive manner. A wiser strategy would be to decide on the weight needed and buy in two or three installments within a span of a couple of weeks, instead of buying in one go.
Instead of watching the daily or weekly fluctuations, it is a better idea to keep track of the gold rates every fortnight. The daily changes in rates are usually minimal and could be misleading. Say, for instance, you need the gold jewellery by a specific date. Instead of waiting for a fall in rates, keep track of it, keep aside the amount needed for the purchase and buy the gold whenever you see a dip in prices. This way, you will also have time to plan the engagement/wedding/festival date keeping in mind the rate hike before the big day.
Making Charges Dependent on Design
The making charges depend on the kind of work the jewellery requires. Chains and bangles that are machine-made usually cost less than handmade temple jewellery or antique motifs. The latter requires more skill and hence the making charges are high. Both are good, but it is important to know what one is paying extra for in case of any discrepancy in the bill. If the budget is less, it is always advisable to go for simple designs that are just as elegant as any other. A good balance between proportion and finish is more likely to catch the eye as opposed to intricate designs with elaborate detailing. Sometimes, bargain for the making charges as jewelers usually give discounts on bulk purchases or if one is a regular customer.
Wise Investing Decisions
A hallmark sticker on the jewellery certifies its percentage of gold purity. It is essential to get this done so that in case one wishes to return or exchange the product, it won’t be a problem. It is advisable to keep the bill safe and also note the unique number on it. It is a good idea to take pictures of the pieces as well. This will come in handy while selling the product in future or while making insurance claims. In fact, keeping these documents safe is a good way to pass on the heirloom jewellery to the next generation along with the stories associated with it. It is a good idea to store the jewellery in soft cotton pouches instead of hard ones. It is also best to avoid keeping the jewellery in contact with perfumes or detergents. Heavier jewellery can be kept in the bank vault while going on vacations or during festivals when the house is full of people and there is a chance of theft.
A Happy Ending Note
It goes without saying that buying gold jewellery should be a fun-filled experience. Educate yourself on the process of buying gold jewellery so as to make the best deal possible. Ask for a breakdown of the final amount from various shops and compare them. Also, remember to take the bill along with you and keep track of all the documents related to the purchase. In the long run, a happy customer who made a wise buying decision will not only value the jewellery for its beauty but also for being a great investment.
