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3 min read | Updated on October 29, 2024, 12:49 IST
SUMMARY
As Dhanteras ushers in the Diwali season, the tradition of purchasing gold and silver symbolizes prosperity and good fortune. However, with demand at an all-time high and prices rising, it’s essential to ensure that your gold purchase is both genuine and valuable.
Gold and Silver Price Today (October 29): Gold prices fall by ₹490, silver remain flat on Dhanteras
Dhanteras marks the beginning of the Diwali festival, and it is believed that purchasing gold, silver, and other precious metals on this auspicious occasion brings prosperity. Driven by global uncertainties, gold continues to attract investors seeking security in a reliable asset, while silver is increasingly popular due to its affordability and industrial demand.
However, buying precious metals like gold can be tricky, as not all gold on the market meets the promised purity levels. With a wide variety of options available, it's essential to know how to check the purity of gold to ensure that your purchase is both genuine and valuable. Understanding these verification methods can help protect your investment and bring true prosperity, as is the tradition on Dhanteras.
A hallmark provides an official stamp of purity on gold pieces, usually marked with the karat level (10K, 14K, 18K, 22K, or 24K). The purity is also indicated by numbers, such as 333, 375, 417, 583, 750, 916, and 990 for gold. Look for the Bureau of Indian Standards (BIS) hallmark on your gold jewelry or coin. The BIS hallmark certifies the purity of gold, and it includes the BIS logo, purity in karat and fineness, assaying and hallmarking centre's mark, and jeweler's identification mark or number. Take for example 22K916 stamped on gold - It means the gold is 22 carat with 91.6% purity.
Since gold is non-magnetic, a real piece should not be attracted to a magnet. However, this test is best used in combination with others, as some gold alloys may contain trace metals that are weakly magnetic.
Drop the gold item in water. Real gold will sink immediately, given its high density. Floating or hovering pieces are likely impostors. This test is easy but useful only when used alongside other techniques.
Applying vinegar or another mild acid can also help confirm purity. Real gold will show no reaction to vinegar, while fakes may discolour due to the acid’s reaction with other metals. This test is straightforward and can quickly identify fakes.
Hold the gold item in your hand until your palm sweats. If the sweat reacts with the metal, causing skin discoloration (green, blue, or black), it’s likely not real. Gold, known as a ‘noble’ metal, does not react with sweat, and genuine pieces will leave your skin unaffected.
The most accurate and used by certified assay centers, an X-ray fluorescence (XRF) spectrometer test reveals the gold's composition. It's quick, non-invasive, and often used in professional labs.
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