Making the decision to buy gold

Jewelry is a form of personal adornments. It goes beyond simple aesthetical functionality.  Depending on the culture, it may be adopted as a status symbol. Jewelry can be used as wedding dowries, wealth stored, trade good, symbolism, protection, functional use and artistic display in various cultures. In ancient Rome certain strata of people from society are allowed to adorn jewelry. Cultural differential exists while wearing ornaments. In 19th and 20th century, wearing of ornaments by European males treated as effeminate. In the ages of Indus Valley civilization, men wear various ornaments like women to show their strength and power. Wedding industries fashioned themselves of male wedding rings and it gained momentum from 1940s and this created a congenial environment for men to wear wedding rings.

Early history:

The initial signs of adornment of ornaments existed in African societies 75, 000 years ago. Sea shells, ostrich egg cells were used as adornments. First signs of copper jewelry began around 7, 000 years ago. Around 3,000 to 5,000 years ago, ancient Egyptian civilization preferred wearing rare luxurious gold ornaments. The Indian has the longest continuous legacy of jewelry starting from Indus Valley civilization. According to Hindus traditions gold and silver are considered to be sacred materials. It relates with God. In traditional Hindu marriages, girl’s family give ornaments made of gold to their daughter and she uses it for her rest of life. Gold matches itself with traditions as well as future economic protection for the girl in case sudden elemental requirements of money come. Both male and female like t wear ornaments. Author belongs to priests’ clan of Lord Juggernaut of Puri. Madala Panji is a chronicle of the Jagannath in Puri, Odisha state, India. According to it, inner priests should be wearing necklaces and rings in fingers while worshipping Lord Jagannath.

When we go for gold shopping, we bought value of 7,000 in 10,000 and this gives the shop owner a straight 3,000 profits. After one or two years, we return to the same shop for exchange, then they cut ten percentages of gold price before applying exchange values. If we go to some other shop, it investigates about earlier shops and then cut perpendicular 30 percentages of gold price before exchange. This is a straightforward case of cheating and blackmailing. Generally, people did not have any such idea about existence of percentages of gold or silvers inside ornaments they purchased earlier. Shopkeepers sell twenty two carats of gold to us. We have no idea how to know whether the gold compares with the standard of twenty two carats.  We have no idea how twenty four carats have the differentiation from twenty two carats.

 Let us observe and understand how gold comes to our market and how gold trading becomes a reality. What is a real gold? How it reaches into the market? How ornaments are made from it? How gold is quantified? How much actual gold inside an ornament? Gold reaches to the Indian market in the form of 100 gram biscuits. 999 numbers be over this cold biscuit. This signifies the percentages of purity in this gold biscuit. This means the fine biscuit is 99.9 percentages pure. The rate of ten grams of gold in different Indian gold trading market announced each day at the commencement of working hours. When someone goes for gold shopping, first he had to observe the rate of gold at ten grams of 24 carats in gold trading markets. If someone buys pure gold in the market then nothing to worry about prices. If the gold is embedded with stones, then find out the actual weight of stones. Then, find out what is the weight of authentic gold. Now, find out the actual weight of gold in that decorate by subtracting the weight of stones from there. Then, ask for cost of ornament. Separately, to ask the cost of gold and cost of stones in it. Now, you have to weight of a gold ring and cost of a gold ring and then compare the price of gold with daily market prices. By diving gold quantity prices of gold ring with daily market prices of unalloyed gold, you will find the heartfelt quality of gold used with a gold ring. Then, calculate prices making charges and losses incurred while making the ornament. Some jewelry shops used to reduce making charges, and try to advertise that they are selling gold at reduced prices. It is not true. In this instance, one has to check the genuine purity of gold by checking the amount of gold used in ornament. Then, ask for its price and divide it with its quantity and then separate it with the market price of pure gold to receive the purity of gold of a given ornament.

Making charge varies with in relation to its design. The making charge on designs varies from 30 to 100 rupees per gram. Retail loss on gold ornaments occurs while heating gold ornaments or making small flowers, or cutting with machines, or welding. During welding small dusts of gold wasted. All these losses of gold are considered as making a charge on retail losses. It is estimated to be three to eight percentages of total gold amounts inside bestowed gold ornament. Any ornament which has fewer gold but superior in design has eight percentages of gold loss during its making. While shopping for gold ornaments three prominent elements need to be monitored. First, is to find out whether the given ornament is of pure gold or mixed with gems, stones or glasses. Second, is to find out what the quantity of gold used is and also the price of the gold used in that shop. Third, is to find out the market price of pure gold on that given day. Fourth, is to find out percentages of retail loss while designing the ornament and last not the least is to find out the making charge of ornament. After proper calculation, you can reach to the conclusion of how much purity of gold inside the given decoration.

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