Indians never shy away from buying gold, whether it's a wedding or some other religious event, they just need an excuse to buy gold. Gold is one of the world's most valuable and commonly used commodities. One of the key reasons for its long-term popularity is that it does not react with moisture, so it does not rust and is tarnish-resistant. It has a brilliant lustre and a yellow colour that is attractive for ornamental jewelry. People have kept gold for a variety of purposes over the centuries. Gold's ubiquity in different religions, combined with tradition, has led to large populations expecting important items and jewellery to be made of gold. It is known to be one of the strongest assets in any economic downturn. Gold prices ended the year 25% higher in global markets in 2020, the largest annual increase in a decade.
What is Karat or K stand for?
We usually come across terms like karat, or k suffix when we go to buy gold. To understand the difference between 22K and 24K, one must first understand what K or karat means. The purer the gold is, the higher the karat value. On a scale of 0 to 24, it is rated. To improve the composition and produce gold jewellery, other metals such as copper, nickel, silver, and palladium are added.
24 Karat Gold Features
Pure gold is gold that has not been tampered with in any way. The term "pure gold" is also known as "24 Karat gold." The purest form of gold is 24K gold. It contains 99.99% gold. You may be wondering why, despite being the purest type of gold, it is not 100% pure. This is due to the fact that 100 percent gold is too brittle to maintain its shape or form at room temperature. As a result, after the ore is extracted, it is processed until it reaches a purity level of 99.99%.
Because gold is so delicate, it isn't used for jewellery or religious items. It is primarily used in the production of gold coins and bars. In comparison to the paler karats, 24K gold has a distinct yellow colour. The Bureau of Indian Standards (BIS) Hallmark is stamped on every Indian gold coin.
This means, 24K gold is the purest form of gold available.
22Karat Gold Features
It is made up of 22 parts gold and 2 parts other metals like copper and zinc. This karat of gold is also known as "916 gold" since it contains 91.67% pure gold. The texture of the jewellery is harder, more durable, and scratch-resistant as a result of the addition of these metals and alloys. However, you should keep in mind that 22K gold can only be used to create simple gold jewellery. In the case of jewellery, 22K gold is favoured. As a result, most people prefer 22K gold to 24K gold because it has a higher resale value.
Apart from checking the purity of a gold coin, it's also a good idea to see if it's hallmarked. The Bureau of Indian Standards (BIS) was established by the Indian government to ensure that consumers are not duped when purchasing gold.
Comparison table for
Comparison table for
|24K Gold||22K Gold||18K Gold|
|Purity||99.9 % of gold||91.67% gold||75% gold|
|Purpose||Ideal for investment purpose.||Ideal for use as jewellery and investment purpose.||Ideal for only jewellery purpose.|
|Used as||Medical and electrical devices application of the pure gold 24K.||Used in making jewellery and coins.||Used in making diamond and stones studded jewellery.|
|Price||The price of 24 Karat gold is the highest.||Less expensive than 24K.||Less expensive than 22K and 24K.|
18 Karat Gold Features
The word 18-karat gold refers to an alloy with a mass of 75% gold and 25% alloy. This form of gold is used in the making of stone-studded jewellery. Other alloys include metals such as Zinc, copper, nickel, etc,.
18K = 75% Pure = 750
Which Form Gold is Best and Why?
It depends on the purpose of buying gold. If you are looking for ornaments as well as investment, 22k can be chosen. However, if the investment is made in the form of jewellery or ornaments, the making charges and wastage will be deducted when the item is sold. Gold jewellery has higher making charges. People who sell gold biscuits, on the other hand, just want the gross profit and the prevailing gold prices.
If you are looking solely for investment purposes, 24k is better. Gold biscuits, Gold bars are available in the purest form of Gold can be bought in the purest form.