Gold Leaf
Gold Leaf

Hold On To Gold
How is Gold priced?
Gold prices have been volatile, but well within ranges. Pricing of gold is based on a number of factors, including karatage, gram weight, design and craftsmanship. The karatage and gram weight tell you how much gold is in a piece, but these alone do not determine price. The key driver for gold prices is the gross mismatch between demand and supply. Gold prices are also linked to the strength of the dollar. With the dollar weakening the demand and price of gold would only rise.
Types of Gold
Before you go to pick your gold, it makes sense to know the types of gold there are and how they are used.
'Gold Filled' or 'Gold Overlay' refers to a layer of at least 10-karat gold that has been permanently bonded by heat and pressure to one or more surfaces of the support metal, and then rolled down or drawn to a prescribed thickness. The karat gold must be at least one-tenth of the total weight.
Gold Plate implies that a layer of plating of 10-karat gold or better has been bonded to a base metal. The karat gold content may be less than one-twentieth, but it must be properly identified by weight in terms of total metal content.
Gold Leaf is gold plating that has been pounded and applied by hand.
How do we measure Gold?
Gold's purity is measured in karats. The term ‘karat’ has reference to the ancient bazaars where ‘carob’ beans were used to weigh precious metals. Twenty-four karat is pure gold, which means it is more expensive and less durable than gold that is alloyed with other metals. Different alloys are used in jewellery for greater strength, durability and colour range.
The karatage of the jewellery will tell you what percentage of gold it contains: 24 karat is 100 per cent, 18 karat is 75 per cent, and 14 karat is 58 per cent gold. When comparing gold jewellery, the higher the number of karats, the greater the value.
For most Indians, gold purchases usually mean buying jewellery. This makes it the rare asset class that we can wear. However, the disadvantage of buying gold in the form of jewellery is that its resale is not always a profitable proposition. For one, the jeweller discounts what you paid as 'making charges' or 'design charges' from the value of your jewellery. This shaves off a significant part (up to 40 per cent) of your investment. Its second disadvantage is that most jewellers do not give you cash in lieu of gold. Instead they allow you to exchange it for gold—jewellery or in a bar or coin form. India has the highest demand for gold in the world. More than 90% of this gold is acquired in the form of jewellery. The bulk of the Indian jewellery buying is still rooted in tradition and jewellery is sold in traditional designs.
How is gold priced?
Pricing of gold pricing is based on a number of factors, including karatage, gram weight, design and craftsmanship. The karatage and gram weight tell you how much gold is in a piece, but these alone do not determine price. Remember, a price based solely on gram weight does not reflect the work that has gone into the piece.
Karat and Carat
Karat with a ‘K’ is the measurement of purity of gold.
Carat with a ‘C’ measures the size of gemstones.
Gold coins from banks are gaining in popularity, but one needs to remember that the bank won’t buy the coins back and they are also more expensive than a jeweller’s coins as the bank weaves its charges into the cost of the coins
Is your gold karated?
When buying gold jewellery, always look for the karat mark. Other things being equal, the higher the karat, the more expensive the piece. In the United States, 14-karat gold, or 583 parts pure gold, is the most common degree of fineness. Nothing less than 10 karats can legally be marked or sold as gold jewellery in the U.S. However, lower karatages, such as 8-karat gold and 9-karat gold, are popular in other countries.
18-karat gold is 18/24ths, or three-quarters pure gold, and jewellery of this fineness is marked 18k or 750, the European designation meaning 75% gold.
Always look for the karat mark or ‘k’ that appears on the back of the piece.
Tips on buying gold jewellery
• Take note of the grams: Usually, while buying jewellery, much attention is paid to the design and little to how many grams the jewellery is—how much jewellery you will actually take home. Before you buy any jewellery ask for the “take-home grams”.
• Opt for low-wastage ornaments: high-wastage in jewellery is often a way for jewellers to extract higher profit margins. Experts suggest that for ordinary designs, insist on not more than 6% wastage, and for highly-intricate designs, insist on not more than 8% wastage.
How does jewellery affect environment?
Jewellery appears to be small in size, with low environmental impact; but the truth is quite the opposite. The ugly reality behind the business of making pretty things ranges from human rights abuses and violence to terrorism and outright civil war. Precious metals, diamonds and semi-precious stones are often acquired using unregulated labour practices in unregulated mines and processed using methods that cause a high degree of environmental damage. In the worst cases, there is an even higher human cost.
To know the complete information, read our January-09 Issue of Consumer VOICE magazine
About the Author
To Read whole article please log on to www.consumer-voice.org
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