Tips on How to Choose Appropriate Gold Gifts for Your Loved Ones
Concept of Gifting Gold and Matching Personal Preferences
In India, any special occasion, wedding or festival is incomplete without a little gold. Indian Culture goes hand in hand with gold, not only as an auspicious gift but also as an investment. Choosing Gold in the finest form of jewellery is no easy task and there’s a lot to consider. While gold coins are a good idea, they aren’t personal to the receiver and may have a low perceived value. If you’re looking at gifting gold to a newly-wed couple, then its best to gift gold jewellery. If you’d like to contribute to the couple’s investment portfolio, then gold coins would make for an exceptional gifting option.
When it comes to jewellery, from earrings to pendants to necklaces, there’s no lack of ornaments you can select for women and to make it more special, you can buy them to match the lady’s personality. Earrings are usually a popular choice. If the lady in question doesn’t prefer heavy jewellery, then a light chain with a pendant to go would be more suitable. Functional jewellery like a bejewelled watch or a bangle/bracelet would be nice as well. Unless you’re sure about the wearer’s finger size than buying a ring for either a woman or a man is a wasted effort.
Men are usually averse to wearing jewellery, however functional jewellery like a watch or a pair of cuff links would be more acceptable and if the guy does like jewellery, then you can think of gifting him a pendant or a bracelet, befitting his personality. When it comes to buying gold, both white and yellow gold are equally valuable, with white gold having more of a contemporary charm & yellow gold implying traditional elegance. If shopping for a couple be sure to buy the same coloured gold jewellery for them. If they like unconventional items, then buy them rose gold jewellery.
Budgeting for Gold Gifts
When going gold shopping, it isn’t about the price as much as the thought behind it. A piece of Gold is something one will always cherish. Before you purchase gold, it is best to set a budget, which will help you decide on what you can gift then. For instance, a 10,000 rupee budget can get you a pair of earrings, a bangle or a diamond pendant. However, if your budget’s a little higher, then a diamond necklace or a pair of couple bands would be more accessible. Gold coins and bars are always an option in all kinds of budgets.
Authentic fine jewellery made of pure or 14-carat gold costs higher owing to its material composition and intricate craftsmanship, so it is good to budget accordingly. Usually, you gift gold to someone you’re close to and so you’re mostly aware of their preferences as well. If however, you are buying a gold gift for someone you don’t know well, it is best to buy a gift card worth a budget you have in mind for them, gift wrap and present it to them. Nearly all jewellers of repute sell gift cards these days, which your gift receiver can redeem and if they like something that’s over the value of your gift card, then they can always add to it and buy it.
Authenticity & Certification
Gold is measured in 24ths, hence 24 carat is 100% Gold. The higher the carat, the more its value and in case other metals have been added to Gold then the value of gold goes down. For instance, 18-carat gold is 75% gold, which means that of the 24 carats, 18 parts are pure gold and 6 parts are an alloy, 14-carat gold is 58.5% pure gold, while 9-carat gold is 37.5% pure gold. Carat is a mark of purity and measurement for Gold and in most parts of the world Carat/Karat, the weight of Gold is measured in Grams. Most countries require every piece of gold jewellery stamped with its carat, which is typically governed by hallmarking. The price of Gold fluctuates dependent on the market demand and investing in Gold is usually looked at for financial stability.
A hallmark guarantees the metal’s purity, the origin and fineness of the precious metal, ensuring that it has been independently and accurately tested. In hallmarking, the metal and finesse mark for 18 carats is 750. It is wise to be aware of the authenticity of precious metal, as most fashion retailers often list an item like gold when ideally it should be ‘gold-coloured’ or ‘gold plated’. 18 carat Gold isn’t the same as 18-carat gold plated. Understanding what’s underneath it, any discolouration or skin changes, the fact if its hallmarked sterling silver plated in Gold carat or it’s a cheap base metal, are just a few points to consider before you invest in it.
Gold Gift Ideas
Gold Crab Pendant (Unisex)
Jewellery should be an extension of the wearer’s personality and when you gift it to someone, it should be styled in a way that is appealing to them. When you buy jewellery, you can choose from a wide range of motifs and themes that cover minimalist to conventional, simple to ornate. If you’re looking to gift something spiritual, then a pendant of their religion would be appreciated.
The unisex crab pendant from bluestone.com is made of 22 carat Yellow Gold and weighs 3.654gm, measuring 24mm in height and 19mm in width. Certified by 3rd party international laboratories like SGL, GIA, IGI, BIS and HKD, the Crab Pendant is priced at Rs.15,354, inclusive of the Gold, its making charges and GST.
Swarn Shree Yantra (24k Gold Plated)
A Shree Yantra is a unique geometric representation of the Universe that attracts cosmic energies and spreads its positive vibes in the surrounding area. With some beneficial traits that enhance a person’s peace of mind, strengthening relationships, evoking harmony and good health, leading to contentment, success and abundance in addition to more, a Shree Yantra is a spiritual tool that benefits one and all. The Akhand Energized Swarn Shree Yantra is made of five positive metal components: 24 carat gold plating, silver, copper, zinc and nickel and comes in two sizes: 5”x5” and 7”x7”, priced at Rs.8,277 and Rs.19,312 respectively on Etsy. The 24 carat gold plated Swarn Shree Yantra has been crafted with detailed accuracy and perfection.
999 Purity 2 Gms Laxmi Gold Coin
Gold Coins make for ideal gifts to invite prosperity and positive energies in a person’s life and can be customized to any specific requirement. Gold has been looked at as a form of investment for a long time now and it is always deemed as an every growing asset that’s useful not only for ornamental reasons but also for investment purposes. Gold rate is the price at which a 10gm of 24-carat gold costs and differs from one place to another, with no rate that’s common for the entire country on any given day. Gold coins can be brought starting from a gram to 100 grams. The 2 gm Gold Coin from Malabar Gold is imprinted with Goddess Lakshmi and comes with 999 purity, priced at Rs. 7,755, on malabargoldanddiamonds.com.
24K Gold Plated Taj Mahal
The Taj Mahal’s an epitome of Mughal art and considered one of the 7 wonders in the world, built over 22 years at the behest of Shah Jahan for his beloved wife. The 24-carat gold plated Taj Mahal is handcrafted and delicately designed with crystals embedded in the structure. Measuring 9.00cm x 9.00cm x 8.00cm in dimensions, the 24K Gold and Crystal encrusted Taj Mahal is set on a transparent base and in addition to the beautiful motifs that are evident on this gorgeous décor item, the light reflecting off the crystals make for a captivating sight. Ideal for gifting the 24K Gold Plated Taj Mahal is priced at Rs.6,854 and available at kolambas.com.
22K Gold Chain (Unisex)
When you gift a gold chain to someone, always refer to the size/length of the chain. For people who work in an environment with a disciplined dress code, a chain with a pendant that can be concealed beneath a layer of clothing would be more appropriate. Joyallukkas’ 22-carat gold chain is a unisex chain, crafted from 22-carat gold, featuring a high polished finish that captures the true essence of style. Simple yet elegant, this 22-carat gold chain displays refinement and comes with a BIS certification. It can be paired with an ethnic attire for a voguish look. Measuring 50” in length, the 22-carat gold chain is priced at Rs.21,581 and is available on tatacliq.com.
24 Karat Gold Plated Fine Bone China Tea Pot Set
Made of premium quality Bone China and highlighted with 24-carat gold plating, the Kaunteya Dasara Tea Pot, Creamer, and Sugar Pot come as a set with elegant motifs inspired from the pillar engravings of the Royal Mysore Palace. Made of 100% food-grade quality, every piece from Kaunteya Dasara series is inspired from Indian Heritage and its ancient past.
The Fine Bone China Tea Pot Set has been highlighted with 24-carat gold with a use of green hues inspired by ancient Indian dome interiors and the set is best to hand washed with a mild detergent and it shouldn’t be scrubbed. It isn’t a microwave/dishwasher safe. Kaunteya Dasara Tea Pot, Creamer, and Sugar Pot, 24-carat gold Fine Bone China is priced at Rs.8,800 and is available at amazon.in.
Gold Toned Dial Watch - Men
The analog watch for Men with a circular case and stainless steel back with a gold-tone dial from Myntra is inspired by the Royal Victorian Crests and is best highlighted with a formal shirt and trouser ensemble, coupled with brogues emitting an opulent, authoritative and dominant vibe.
It features a gold-toned bracelet type strap secured with a butterfly and fold-over clasp. Water-resistant up to 50m, with a screw to reset time and date, and a sub-dial for seconds and date change, the Gold Toned Dial Watch comes in a signature Titan Case with a 2-year warranty, measuring 40mm in dial width and 20mm strap width. With an analog display, mechanical movement, hybrid type, a round dial, apt for formal occasions, the Gold Toned Dial Watch for Men is priced at Rs.8,295 and is available at myntra.com.
14K Gold Bracelet - Women
When buying a bracelet or bangle, size is of utmost significance. It essentially refers to the bracelet/bangle’s circumference and is best purchased only if you are sure about the wearer’s wrist size. The 14 carat Gold Bracelet, Mia by Tanishq is a simple yet stunning E-size bangle from their All Rounders’ Collection that makes a subtle yet strong style statement.
A double-headed design on 14-carat gold makes for an ideal gifting option for a loved one. With one head of the bangle adorned with polished beads of varying sizes, the other end is smooth. Paired with a Saree, the bracelet would give off a modernish vibe. Golden in colour and enriched with Rawa Work, it is a classic bangle type, available in sizes 1-8 and is priced at Rs.17,238. It is available at tatacliq.com.
24K Gold Mask
Peter Thomas Roth’s 24K Gold Mask is a premium, high performing and anti-ageing facial mask that contains pure 24K Gold and Colloidal Gold to help uplift the skin and add an opulent glow to it. Blended with caffeine for firming action, the mask is also loaded with Peridot, an exquisite crystal that’s rich in magnesium and helps energize the skin, reducing the ageing effects of stress. The mask is also infused with Hyaluronic Acid and Glycerin which provides intense hydration and reduces the fine lines and wrinkles, unveiling a smoother, plumper, revitalized and younger-looking complexion.
Peter Thomas Roth’s 24K Gold Mask (150 ml) is priced at Rs.4,832 on strawberrynet.com.
Gold has been a traditional support system in the Indian society especially as a tool to help tide over any unforeseen financial exigencies. Besides investing in Gold jewellery, there are other papers and physical forms of owning it, like gold coins, bars or gold exchange-traded funds (ETF), sovereign gold bonds (SGB), and gold mutual funds. ETFs can be bought on a stock exchange with gold as an underlying asset and the initial high buying or selling charges that go into owning jewellery, coins or bars gives additional life to the low-cost ETF.
All you require is a trading account with a stockbroker and a Demat account which may either purchase in a lump sum or at regular intervals via systematic investment plans (SIP), starting from as low as 1gm in Gold. The next step is to log in to your stock broker’s online trading portal using a user IS and password and choose the golf ETF you’re interested to invest in and then place the order for a specified number of units.
Sovereign Gold is another alternative. Issued by the government, its availability is subject to it being offered by the government for a fresh sale to investors, which happens every 2-3 months for about a week. For interested investors, the only way of buying the SGBs anytime is to invest in earlier issues at market value, as listed in the secondary market. Then, there’s Digital Gold offered on mobile platforms like Paytm and Gold Rush offered by the Stock Holding Corporation of India, offered in association with MMTC and PAMP.
Find more about them here.
Bonus Tip: Tips on Shopping for Gold Online
These days, in addition to buying gold from your neighbourhood jeweller, you can also buy it from e-commerce web portals like Amazon, Flipkart or Snapdeal. But for an authentic transaction, it is important to consider a few points essential to the purchase.
- Purity – ensures what you want is what you get. Gold is measured in Carats, a unit that measures the genuineness of gold, which means that the higher the carat, the purer the gold is. Hence, 24, 22, 18-carat gold has the purest form in that order. This implies that in 24K gold, all 24 parts in gold are pure with an extremely low level of impurity. Further, before the purchase, it is best to know the refinery from where the gold has been refined to gauge the level of purity.
- Tolerance – You should enquire about the weight and purity tolerance before purchasing, as in the case of gold bars, sometimes they may have a +/- tolerance level, while in other cases the bars may come with a negative weight tolerance or negative purity tolerance.
- FinenessS – shows the purity of precious metals in parts by 1000 rather than in carats and is another way of expressing the precious metal content of gold jewellery. When gold is refined to a fineness level of 999.9 parts per thousand, it is stated as 999.9.
- Denomination – is an essential point in the investment arena as investing in lower denomination enables liquidity management for when you need it. It is wise to invest in 5gm gold bars. The price for a higher denomination may, however, be less as it commands less premium.
- Packaging – if a gold bar is packaged as it was supposed to be on its online purchase, don’t take it out of the packaging, as it will maintain the purity of the gold.
- Return Policy – Always check the return policy or the buyback policy while buying gold online. The exchange policy of gold has stricter terms and conditions comparatively.
Gold is usually gifted to people you are close to or know well. It is a good idea to not give them the same kind of golden jewellery. Instead, try and find something that is more of a reflection of their personality or taste. A gift like that would be remembered for ages to come. Happy gifting!