ALL that glitters is not always gold — and is one time of the year when many consumers buy gold jewellery to mark the auspicious festival of lights, Diwali.
There is also a rush to lay-by fine gold jewellery to be given on special occasions such as child birth, birthdays, engagements or weddings.
Buying gold jewellery is a big investment so buyers must ensure they are purchasing authentic gold. Gold is one of the most frequently imitated valuable.
It is easy to mistake with fake gold for the real one as they can look almost identical to the untrained eye.
The trend is clear — buyers often go for jewellery stores, which are either popular or cheaper. As they say in the jewellery world, a good name is as good as gold.
But how will a consumer know if a purchase is worth the money? Well, not everyone knows how to spot a real gold from other pretty looking yellow metal.
Consumers are often a victim of fraud where they are sold 22 karat (K) gold. When they later sell or opt to exchange the jewellery, they discover that the gold is of lower karat (18K, 14K or just gold plated) resulting in consumers losing their money
The good news is that consumers in Fiji can now access professional gold testing services at a minimum price of $15 to know if their jewellery is authentic or not.
Gold Traders Fiji, a division of Jewels Fiji, owns state-of-the-art technology, offering professional gold testing services at their Suva and Nadi branches.
What’s on offer?
* Test can be conducted for gold, platinum, silver and other metals;
* All tests are carried out in front of the consumer thus eliminating ambiguity and misrepresentation of actual gold content;
* Full test report is issued outlining the correct karat and all other metal content present in the jewellery; and
* Professionally trained test personnel will assist the consumers.
Gold jewellery is measured in 24 parts, called karats, which shows the quantity of actual gold in the jewellery. A higher number means more gold.
As the percentage of pure gold decreases, the strength of the metal increases affecting the price. So 14k gold will cost less than 18k gold. Let’s try to understand some terms related to gold.
* 24 karat gold is 99.9 per cent pure because all 24 parts are gold without traces of any other metals. 24K is referred to as 100 per cent pure gold. Since 24K gold is soft, it is often combined with other metals to make it stronger and more suitable for making jewellery — 24K is usually used for gold plating;
* 22 karat gold is 91.7 per cent pure. Generally large amount of delicate Indian and Chinese jewellery is made using 22k gold;
* 18 karat is about 75 per cent pure. It is used in more high-end gold jewelry pieces and has a deep and rich colour;
* 14 karat gold is 14/24 or 58.3 per cent pure. It provides good balance of durability and value;
* 12 karat gold is 50 per cent pure. For example, 12K would tell you that your “gold” jewellery has 12 parts of gold while the other 12 parts are other metals, making it 50 per cent gold; and
* Nine karat gold is 37.5 per cent pure while 62.5 per cent other metals.
There should be a stamp or symbol identifying the karat or percentage of gold in the jewellery. Knowing the karat will help you to establish the authenticity of the jewellery.
Gold-plated items are fast becoming fashion. With modern technology advances, the plating process and finish is so good that discolouration and gold turning colour in few days’ time will not happen. Consumers may not be able to know the difference between a gold-plated jewellery or one gram jewellery from 24k gold jewellery.
This is a regular contribution from the Consumer Council of Fiji. Email: mediaofficer@consumersfiji.org for feedback.
