 "fake gold")
All that glitters is not gold! Imagine spending a staggering Rs 6 crore on jewellery, only to find out it’s worthless. This was the shocking reality for an American woman named Cherish. She bought what she thought were precious items from Jaipur's famous Johri Bazaar, only to discover at a US exhibition in April 2024 that they were fake and valued at just Rs 300.
Cherish’s ordeal began in 2022 when she started purchasing jewellery from the seller via Instagram, according to news agency PTI. Believing the items to be genuine, she made several high-value transactions over the years. When she finally realised the fraud, she travelled to India to confront the shop owner, only to find he had disappeared. A complaint has been lodged with the Jaipur police and the US embassy, and an investigation is underway.
How can you check if your gold is real?
“To identify whether gold is real or fake, the first and foremost thing one should check is the hallmark stamps on the gold jewellery. Hallmarking determines the volume of precious metal in precious metal jewellery, which ensures that it is real and holds its purity value,” says Colin Shah, MD of Kama Jewelry.
He adds, “Another way to test whether a gold jewellery is real or fake is to use a magnet. If the jewellery is magnetic, that means it is fake, as real gold is not magnetic.”
To ensure your gold is genuine, you can use several methods:
Check for hallmarks: Look for stamps indicating the purity level on the jewellery.
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Magnet test: Real gold is not magnetic, so if a magnet attracts your item, it’s likely fake.
Scratch test: Rub the gold against a ceramic plate; real gold leaves a golden streak.
Density test: Calculate the density by measuring the weight and volume of the gold.
You can also seek professional assistance from jewellers or gold experts with specialised equipment to authenticate your gold.
What's the difference between fake and real gold?
Understanding the difference between fake and real gold is crucial to avoid scams. Real gold maintains its shine over time and does not tarnish or discolour. It has distinct markings, such as hallmarks indicating purity. On the other hand, fake gold may show signs of wear and tear, like tarnishing or flaking. It lacks authenticity hallmarks and might be attracted to magnets. Additionally, fake gold tends to be lighter in weight compared to real gold of the same size. By using methods like visual inspection, magnet tests, and seeking professional authentication, you can confidently distinguish between fake and real gold, protecting your investment and financial well-being.
How can you protect yourself from being duped?
"To safeguard yourself from being defrauded, along with following the above-mentioned steps, you may also ask the jeweller to show the Registration Certificate obtained from the BIS (Bureau of Indian Standards) portal for selling hallmarked gold and silver jewellery. This further ensures that the purchased gold jewellery is of utmost purity and genuine,” advises Colin Shah.
