Are you interested in knowing how to shop for gold jewellery and keep your investment safe? If your answer is yes, then you need to know that research has predicted an Investment in the jewelry business estimated to be reach 307 billion USD in 2026. Inflation hardly affects gold jewelry markets, which is the reason why it’s safe to use for passion and also store as an investment.
It’s important to note that it’s difficult to acquire, store and secure gold jewellery due to its market value. This is why you need to do deep research about the original, best prices of the material just to be sure that you are getting the best value for your money. Fake pieces of jewellery are all over the market, and having excellent knowledge about the item you want to buy can help you to distinguish between genuine and fake jewellery. You might end up being duped by fraudsters in the market. Therefore, here are tips on how to shop for gold jewellery and keep your investment safe:
1. Before you shop gold jewellery with an intention to keep it as an investment, always consult qualified financial advisers. They will help you to understand how to invest your money in order to make a profit. They will also caution you about the risks associated with gold jewellery.
2. Have you bought the jewellery yet? If yes, you need to store those precious assets in a safe and secure place, away from moisture and extreme temperatures.
1. What are the different types of gold jewelry?
There are different types of gold jewelry in the market depending on shapes and sizes, from earrings to necklaces, depending on how it was beautifully crafted.
It’s understood that the colour of a gold that has just been mined from the site is red-and-yellow. Therefore, it’s alloyed with other strong metals like palladulium, silver, nickel, copper and zinc to make different types of jewelry.
Gold-palladium alloy is a mixture of pure gold and palladium to make a hardened and durable jewelry. It’s also a white gold jewelry(and it’s different from silver-gold). Gold-palladium requires a lot of energy during its design, and this property makes it more expensive than nickel gold. It’s delicate and can be molded easily into a new form.
The mixture of pure gold with palladium results in: a change of colour of the gold from yellow to white, higher melting point, firmness, and its modulus of elasticity. The current price of gold palladium is calculated in U.S. dollars per troy ounce, and as of 9th of June, 2022, it stands as $1,915.60 per ounce.
Silver-gold mixture is another white jewelry. The alloy of silver and pure gold enhance the firmness (i.e hardness and strength) of the gold.
The remaining metals that can be mixed with gold to strengthen and hardened it include nickel, copper, and zinc.
Gold jewelry has been very popular for many decades, due to its durability and luxuriousness. Gold is also affordable, because you can buy it according to your financial strength.
Also, you might want to include silver and platinum on your list. Silver is acknowledged to be among the items that need to be lightweight, such as earrings and bracelets. While Platinum is considered having higher quality and a bit more expensive than gold, it suits items that you might wear a lot, such as rings and earrings.
2. How do you choose the right gold jewelry for your needs?
Are you looking for a special type of gold jewelry? If yes, then there are many types in the market that suits your preference. You need to consider the type of jewelry of your interest, your body type, and the occasion. I will mention tips that will help you choose the right type of gold jewelry that suits your interest:
Type of Jewelry:
If you struggling with the choice of the type gold jewelry of your taste, then look into these two (2):
Are you looking for an expensive and super fashioned type of a gold jewelry? Then look no further, as Fine gold jewelry will definitely fall into the category of your list, because it is crafted from 24karrat gold.
Gold plating, is as a result of adding a few gold material to a metal to reduce its cost, and is often used by everyone. The value of the gold is reduced by adding a mixture of a metal to make it cheaper.
3. What are some tips for safe shopping for gold jewelry?
Are you about to go shopping for gold jewelry? Then you need to consider the following safety precautions:
a. Carry out your groundwork on the prons and cons of the precious stone. Before you buy any gold jewelry, acquaint yourself with all the safety precautions that apply to the metal. This will enable you make an informed and viable decision about what is safe and best for you. It will also save you from fraudsters in the market.
b. Avoid Fraudsters. After educating your self about different brands in the market, you need to be cautious with scammers. They might collect huge amount of money from you for an offer of jewelry of much lower value. Therefore, it’s very important for you to be at alert and if possible request for a machine that detects and differentiate the types of gold in the market (For example, HMKIS Diamond Tester Pen and many more). You need to also go to well known shops or make an order form popular online shops like amazon, eBay, Ali Baba and more. Avoid deals that does not represent the value of the item you intend to buy.
4. What are some common precautions for safeguarding your gold jewelry?
If you are buying gold jewelry with the intention of keeping it as an investment, it is time to plan on how to protect it from possible damage or thieves. Here are some tips on how to safeguard your investment:
- Consider keeping your gold jewelry in an isolated place where strangers may not have an access, preferably in a safe lock (like ENGiNDOT) or jewelry box(like Voova or Landici).
- Keep your gold jewelry in a safe box that does not allow fire outbreak to affect it (like Diosimo) or any box that does not allow water to stain your jewelry.
- Attach a tracking device to your gold jewelry box and keep a CCTV camera in the any of the locations you decide to hide your jewelry.
- If you do not intend to wear your jewelry anytime soon, it’s better to make sure that you know exactly where you need to keep it, in order to avoid forgetting where you hide it.
- Never allow your gold jewelry unmonitored for a long time.
After reading this article, you are now enlightened on how to shop for gold jewellery and keep your investment safe.