Indian Gold
Table of Contents
What is Indian Gold?
Indian gold is of the highest purity – usually 24-karat. Its coloring is bright and yellow; its texture is soft and malleable. Some people label any gold of a high karat as Indian gold but this isn’t accurate – Indian gold must come from India to be labeled as such.
Southeast Asian countries are known for having high-purity gold. Many countries in Europe or North or South America have gold that’s 9-karat, 14-karat or 18-karat but in Southeast Asian countries, gold is usually higher than 18-karat. Consumers in Bangladesh, India, Malaysia, Pakastan and Indian look at gold purchases for their investment potential. When buying gold, people in these countries look for high purity.
Gold coins
India’s gold reserves are satisfied through three different channels:
- Importing
- Recycling
- Mining
Let’s talk about each of these further:
Importing
Gold that’s imported into India is controlled by the Reserve Bank of India and the Ministry of Finance. These powerful agencies regulate and control who can import gold into the country.
Recycling
Because the high demand for gold in India cannot be fulfilled simply with importing and mining, recycling is crucial to India’s gold reserves. This type of gold is sourced from jewelry and manufacturing scraps. Recycled gold goes into making new jewelry pieces or gets a second life as a component part.
Mining
In India, mining is a small source of gold for the country. The state of Karnataka is India’s largest producer of gold, at one point producing nearly 90% of the country’s mined gold. In Karnataka, the districts of Kolar, Dharwad, Hassan and Raichur are most popular for gold production. Gold reserves also come from the Indian towns of Belgaum, Bellary, Chikmagalur, Gulbarga, Mysore and Shimoga.
How many karats is Indian gold?
Indian gold is highly pure – most often 24-karats. It can also be 22-karats. This type of gold is bright yellow. It’s also soft and therefore prone to dings and dents.
How to tell if it’s Indian gold or not
Indian gold does not have to be hallmarked. This means that when you buy a piece of gold in India you may not see any markings or stamps on it. However, in an effort to bring more reliability to gold buying in India, the Bureau of Indian Standards started a voluntary stamp called the BIS stamp. This stamp certifies that the jewelry piece has adhered to standards set by the Bureau of Indian Standards.
A BIS hallmark contains the following logos:
- The BIS logo
- The logo of the hallmark’s maker
- The logo or code of the jeweler
A BIS logo will also contain the following inscription:
- for 22 karat gold – 22K916
- for 18 karat gold – 18K750
- for 14 karat gold – 14K585.
Common types of Indian gold jewelry
Traditional Indian jewelry is once again popular with Indian brides and those looking to spice up modern day outfits with traditional flair. Here are some of the most popular traditional Indian jewelry types:
- Jadau jewellery is known for its inlay work and the use of diamonds, glass beads, stone, pearls and precious stones. This type of jewelry was brought to India by the Mughals.
- Kundan jewellery incorporates the use of glass beads set in gold. It originated in Gujarat and Rajasthan but became especially popular in the Mughal era.
- Lacquer jewellery is known for its versatility. This form of jewelry is most popularly known for its presence in bangle bracelets.
- Meenakari jewelry is famous among brides in Northern India. This type of jewelry incorporates colored enamel and engravings.
Pachchikam jewellery was once popular with European royalty. Its style uses elaborately carved stonework studded with diamonds and precious stones.
Can you sell Indian gold in the United States?
Yes. Indian gold is usually very high in purity. Your buyer will likely want to test the gold for its exact purity therefore giving you the best value for your piece. Finding a reliable buyer who knows what your item is worth is of the utmost importance.
Can you buy Indian gold jewelry?
Indian gold jewelry is popular for its style: necklaces, chokers, bracelets, bangles, rings and earrings. In addition to buying this type of jewelry in India, you can also buy this online. Indian gold jewelry can be purchased in many different online stores.
Choose Crown Gold Exchange
Why choose us? Crown Gold Exchange holds the utmost respect for you and your valuables. When you visit one of our locations, we make sure that you feel welcome, and that your property is protected. We use industry-standard equipment to ensure accurate measurement of your valuables, and we have a special process to keep your valuables safe. Our accuracy enables us to offer you top dollar, and we have several different payment methods available for your convenience, so you won’t be waiting around to get paid
Crown Gold Exchange will purchase any kind of gold you bring us, including 8-karat, 10-karat, 14-karat, 18-karat, 21-karat, 22-karat, 24-karat, or anything else. We buy gold bars, gold bullion, gold jewelry and some gold plated items like pocket watches. If you happen to be in possession of an exclusive piece made by a top gold designer such as Cartier, Tiffany, Rolex, or Patek Philippe, we will often pay more than the weight of the item. Such special pieces often command a higher price on the secondary market due to their superior craftsmanship.