Gold as a precious metal, holds animportant place in the hearts of Indians. From being a symbol of prosperity to cherished heirlooms, gold remains a beloved asset in India's cultural and economic fabric.
When it comes to buying gold jewellery, you may come across terms like hallmarked gold, KDM gold, and 916 gold. Understanding the differences between these types of gold is crucial, as it impacts the purity, quality, and pricing of gold jewellery.
Let us understand the distinctions among hallmarked gold, KDM gold, and916 gold, and their impact on the price of gold.
What is hallmark gold?
Hallmarked gold refers to gold jewellery that has undergone a process of certification by a recognised assay or hallmarking centre. A hallmark is a stamp or symbol imprinted on the gold item, indicating its worth in karat (purity) and other relevant details.For example, 24 carat gold will have a hallmark "999," meaning it contains 99.9% pure gold. Similarly, 22 carat gold will have a hallmark "916," indicating it consists of 91.6% pure gold and 8.4% other alloys. Checking the gold hallmark is crucial when purchasing jewellery as it ensures authenticity and quality, providing you with confidence and transparency in the gold market.
How to check the hallmark on gold?
To check the hallmark on gold, look for specific marks stamped on the jewellery. These marks indicate the purity and authenticity of the gold. Typically, hallmark gold includes a BIS logo, purity in carat and fineness, the jeweller's identification mark, and the hallmarking centre's mark. Use a magnifying glass to closely inspect these symbols, often found in discreet locations on the jewellery, such as the inside of a ring band or the clasp of a necklace. Verifying hallmark gold ensures you're purchasing genuine and accurately rated gold, giving you peace of mind about your investment.
What is KDM gold?
KDM gold is a popular type of gold jewellery in India. What KDM gold means is that it is an alloy of gold and cadmium, with the divisions being 92% gold and 8% cadmium. It is used to fuse different components of gold jewellery. The process of KDM involves soldering with ahigher purity goldalloy, resulting in a seamless appearance without using external solder. This type of gold jewellery is prevalent due to its enhanced strength and purity. But it has been banned by the Bureau of Indian Standards (BIS) due to health concerns.Individuals may seek alternatives or inquire about the KDM gold rate today, but they should be aware of the associated health risks.
What is 916 gold?
916 gold, also known as 22 Karat gold, is a widely preferred choice for jewellery in India. It contains 91.6% pure gold and 8.4% other alloys. The hallmark for 916 gold will display "916," indicating its purity level. This type of gold strikes a balance between high gold content and durability, making it ideal for crafting intricate and long-lasting jewellery pieces.Hence, keeping an eye on the 916 gold rate today is important to make informed financial decisions.
What is the difference between 916 gold and 22 karat gold?
Criteria | 916 Gold | 22 Karat Gold |
Purity | 91.6% pure gold | 91.6% pure gold |
Other Metals | 8.4% other metals | 8.4% other metals |
Marking | Often stamped as "916" | Often stamped as "22K" |
Common Use | Widely used in jewellery | Widely used in jewellery |
Both terms refer to the same gold purity, with "916" indicating the percentage purity and "22 Karat" referring to the karat system.
Impact of different gold types on gold price
Gold prices are influenced by various factors, including global economic conditions, purity levels, and demand and supply dynamics.BIS hallmark, certified for purity, instils confidence in buyers, driving demand and potentially impacting prices positively. KDM gold, with its unique soldering technique, offers enhanced durability, making it attractive for jewellery buyers, and contributing to demand and pricing. 916 gold, being the preferred choice for jewellery, often experiences steady demand, which can affect overall gold prices as well. The interplay between these gold types and their popularity in the market plays a vital role in shapinggold prices in India.
The 916 gold rate today is a crucial indicator for those looking to buy gold jewellery. As gold prices fluctuate daily, checking the 916 gold price today can help you make timely and informed decisions when making a purchase. It's always advisable to compare gold rates from reliable sources or jewellers to ensure you get the best value for your investment.
Price difference between hallmark gold and KDM gold
The price difference between hallmark gold and KDM gold primarily arises from the certification and quality assurance provided by hallmarking. Hallmark gold, especially 916 hallmark gold, comes with a certification of purity and authenticity from the Bureau of Indian Standards (BIS). This certification often leads to a higher market value and trust among buyers, as the gold's quality is guaranteed. On the other hand, KDM gold refers to gold soldered with cadmium, which does not have the same level of certification. Consequently, the 916 hallmark gold price is usually higher compared to KDM gold due to its assured purity and better resale value.
Different types of hallmark marks
Hallmarking is a crucial process that ensures the purity and authenticity of gold, providing consumers with confidence in their purchases. In India, hallmark gold is certified by the Bureau of Indian Standards (BIS) and involves several distinct marks:
- BIS logo: The hallmarking process begins with the BIS logo, signifying that the gold has been evaluated and meets the BIS standards of purity.
- Purity in carat and fineness: This mark indicates the purity level of the gold. For example, 22-carat gold will be marked as "22K" or "916," representing 91.6% purity. The 916 hallmark gold price is often higher due to this guaranteed purity.
- Jeweller’s identification mark: This unique mark identifies the jeweller or manufacturer responsible for the gold item, ensuring traceability and accountability.
- Assay centre’s mark: This mark shows that the gold has been tested and verified by a BIS-recognised assay and hallmarking centre.
- Year of marking: A code letter represents the year the gold was hallmarked, providing additional traceability.
These hallmark marks collectively ensure the quality and authenticity of gold, offering buyers peace of mind. When purchasing gold, especially considering the 916 hallmark gold price, always check for these hallmark marks to guarantee you are getting certified and pure gold.
Resale value of hallmark gold
The resale value of hallmark gold is significantly higher compared to non-hallmarked gold due to its certified purity and authenticity. When you buy hallmark gold, particularly with a 916 hallmark, you are assured of its 91.6% purity. This certification by the Bureau of Indian Standards (BIS) adds a layer of trust and transparency, making it more attractive to potential buyers and jewellers.
One of the key factors influencing the resale value is the 916 hallmark gold price. Since 916 hallmark gold has a guaranteed level of purity, buyers are willing to pay a premium for it. This means you can expect a better return on your investment compared to gold without such certification. The hallmark also reduces the risk of disputes about the gold's quality, making the resale process smoother and more straightforward.
Moreover, hallmark gold is more likely to fetch a price closer to the current market rate of gold. Jewellers and gold buyers often offer higher prices for hallmark gold because they can be confident about its authenticity and quality. Therefore, investing in hallmark gold, especially with a 916 hallmark, not only provides peace of mind but also ensures a higher resale value when you decide to sell.
Impact of hallmark gold on gold loan approval
Hallmark gold significantly impacts gold loan approval, ensuring a smoother and more favourable process. When you use hallmark gold as collateral, particularly with a 916 hallmark, lenders like Bajaj Finance are more likely to approve your loan quickly. This is because hallmark gold guarantees the purity and authenticity of the gold, reducing the risk for the lender.
The 916 hallmark gold price reflects its 91.6% purity, which is widely accepted and trusted in the market. This assured purity allows financial institutions to confidently offer better loan terms and higher loan amounts. With hallmark gold, you can expect a competitive gold loan rate, as lenders perceive less risk and can offer more favourable terms.
Bajaj Finance gold loan options are particularly attractive for those using hallmark gold as collateral. The transparent purity of 916 hallmark gold ensures that you receive a fair and accurate valuation, leading to a higher loan amount. Additionally, the clear documentation associated with hallmark gold can speed up the approval process, making it more efficient and hassle-free.
In summary, using hallmark gold, especially 916 hallmark gold, can positively impact your gold loan approval, offering you better rates and faster processing. This makes it an ideal choice for securing a Bajaj Finance gold loan or any other gold loan.
