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The common mistakes you make when buying gold in Singapore

The common mistakes you make when buying gold in Singapore

Buying gold is a common practice in all across the world. Even in Singapore, it is the same. People love wearing gold jewellery on special occasions, including weddings. But when you are purchasing gold jewellery, there are some common mistakes that you should avoid. In this article, we are going to discuss what those mistakes are. These points are going to help you whenever you are buying gold.

 

The metal used

 

Gold Metals

 

When you are buying gold in Singapore, there is a point that most people neglect. There are various kinds of gold available. You should pay attention to what kind of gold is used when creating gold jewellery you are about to purchase. As we all know, there are three main kinds of Gold. These types of gold include yellow gold, white gold, and rose gold. The natural colour of gold is yellow. But the jewellers mix this gold with a different metal, intending to strengthen it. The colour of the gold jewellery you are about to buy depends on the metal used in the alloy. Some people believe that when it comes to purity, rose gold and white gold are low when considered yellow gold. But that is not true. The purity of gold jewellery is measured in karats, not its colour.

Did you know that white gold and platinum almost look the same? Some customers get confused between these two. Some even end up buying white gold instead of platinum. If you are confused, we advise you to look for a purity stamp in the jewellery. It can help you identify white gold and platinum separately.

 

Not inquiring enough from the jeweller

Leave gold jewellery aside, but you should know everything before buying any product. Completing the transaction with knowing everything you need to know when buying gold in Singapore is wise. But why? The main reason is the difference in prices. Depending on the piece you are buying, the price varies drastically. Let us explain to you, citing an example. Suppose that two rings look the same. But one might have a diamond embedded in it while the other doesn't. We all know that diamond is a prized metal. Therefore, if you do not pay enough attention to these details, you might pay the jeweller more than you should. Therefore, do not think twice to ask any question that you have from the seller. It is a vital point you should consider when buying gold in Singapore.

 

Not doing background research

 

Gold quality checking

 

There needs to be more than a thorough inquiry from the store that you will buy gold in Singapore. It would help if you did proper background research. You should take time to understand the field. It will help you better understand what's available in your area and how much they cost. How can you do this? Just check the Internet. Take a look at the online stores that sell gold jewellery. It will help you confront the jewellers with confidence. You can explain what you need beforehand and know how much it should cost.

 

Not paying attention to the refund and return policies

 

Policy

 

Here is another important thing. You should properly check their return and refund policies when buying anything from any business. What if something goes wrong? What if you needed to exchange what you bought? You can know what needs to be done if you check the store's return and refund policy. When it comes to gold jewellery, a lot of money is involved. Therefore, if you change your mind, you should be able to return what you bought with no hassle. At the same time, knowing about these details will help you make better decisions regarding your purchase.

 

Thinking that expensive jewellery is the best

 

Best

 

Here is a common myth that many people buying gold in Singapore believe. The price of gold jewellery you purchase is not directly proportional to its quality. It can be true on certain occasions but differs each time. Your major attention should be on the design and this style of gold jewellery you are about to purchase. Firstly, you should fix your budget. Then you should try to stick within. The research for a good piece of jewellery starts next. During this process, you will find a lot of variations. It's up to you to choose what suits you best and fits your budget. There are cost-effective pieces of gold jewellery that look awesome. Therefore, overcome the myth which says that expensive is always better.

 

You can trust all retailer

It would help if you did not believe that all retailers are the same. There is a huge difference between a trusted retailer with a proven track record and just any retailer. A trusted jeweller will have a wide range of jewellery for you to choose from. At the same time, they will have a better return and refund policy too. Therefore read the reviews and research the jeweller you are about to approach when buying gold in Singapore. Here is a small measure that you can use for security. Click a picture of the jewellery that you are about to purchase. It will help you confirm whether you are handed over the same jewellery that you selected in the first place.

 

The value of gold jewellery and scrap gold is the same

 

Scrap Gold

 

Gold jewellery is a good investment. Some people are buying gold jewellery as an investment in Singapore. If you belong to this category, you should be very careful. You should ensure that the gold jewellery you buy is not scrap gold. Do you know why? Scrap gold is the gold that gets left when transforming gold jewellery into something else. You can also call it residual gold. Therefore, identify real gold and check for their quality standard certifications.

 

Conclusion

So that's it. This is the end of our list. We advise you to be smart and consider these points when buying gold in Singapore. We are sure that they will come in handy. Get settled for nothing but The common mistakes you make when buying gold in Singapore