Gold is one of the softest metals and is often used to make jewelry and other valuables such as gold bars or coins. You are spoiled for choice with the many types of gold available, and it is important to know the characteristics of each type. There are many factors to consider when buying gold, but the purity or karat of the gold is critical. We often see that 14 karat and 18 karat gold are the most popular and recommended choices when it comes to jewelry, but what about 24 karat gold? Read on to learn what you need to know about this glittering metal.
Properties of 24 Karat Gold
14 karat and 18 karat gold are alloyed with metals such as silver, nickel, palladium, and copper, which reduces the purity level of the gold. 24 karat gold, on the other hand, is pure, unalloyed gold, meaning it is the purest form of gold available. Alloying metals also changes the color of gold. For example, white gold can be made from silver, zinc, and palladium, while rose gold is made from a mixture of copper, silver, and gold. 24 karat gold has a rich yellow-orange color compared to its variants, as it is 100% pure gold.
When Should You Buy 24 Karat Gold?
Depending on the occasion, you need to weigh whether buying 24 karat gold is the right choice. Jewelers often advise against buying it as everyday jewelry because its extreme purity makes it soft and prone to wear. However, 24 karat gold is usually the right choice if you are buying it for investment purposes or as a gift for someone else. If you plan to invest in gold, keep an eye on the price of gold and buy when it goes down.
Tips for Buying 24 Karat Gold
One of the most important tips for buying gold is to check the gold's purity. 24 karat gold has the highest percentage of pure gold with an extremely low percentage of impurities. You can also check the fineness, which indicates the purity of the gold in parts per thousand instead of karats. Gold is stated to have a fineness of 999.9 parts per thousand.
Second, make sure your gold item has a hallmark. Hallmarks are stamped marks that certify the purity of gold and ensure the validity of the manufacturer's gold purity claims.
Third, gold prices tend to fluctuate depending on financial conditions or international costs. Buyers also need to be aware of seasonal events such as weddings or festivals, which can also drive up the price of gold due to higher demand. When investing in gold bars or coins, invest in lower denominations to help maintain liquidity. Keep in mind that owning physical bullion may come with additional costs such as insurance and storage.
Finally, check the credibility of the jeweler from whom you buy your gold. This is especially important for gold investments, which you should only buy from reputable and well-known stores.
Like many other items, you can also buy gold online through licensed dealers. Depending on your budget, jewelers may also have a wide selection of gold varieties and precious metals for you to choose from. If you want to buy 24 karat gold, AGR Gold offers a quick and easy service that will cover your needs.