What is 24 karat gold?

For centuries, gold has been a prized possession because of its beauty and radiance. Being an extremely versatile metal, it is best suited for making jewellery. Besides being malleable and ductile, this precious metal is free from rusting and corrosion. Karat is a term used to measure the purity of gold. This means that the higher the karat, the purer the gold. There are various karats of gold available in the market, ranging from the purest 24K to 10K. As pure gold, or 24 karat gold, is too malleable, it is not fit to be used in jewellery. So the gold is alloyed with various metals, including zinc, nickel, copper and silver to increase its durability and strength.

How to find the purity of gold?

You can find the purity of your gold jewellery, coins or bars by looking at Bureau of Indian Standards’ (BIS’) Hallmark. Hallmarking is simply the accurate determination and official proof of the proportionate content of the precious metal. Hallmarks are thus official marks used in India as well as many countries to guarantee the purity of precious metals. In India, gold and silver are under the purview of Hallmarking. The different hallmarks in India to denote the purity and fineness of gold are:

22K916: Corresponding to 22 carat

18K750: Corresponding to 18 carat

14k585: Corresponding to 14 carat

BIS does nor hallmark 24K gold items, although 999 is used to denote the pure gold items.

How to convert carats into percentage

If you want to find out the percentage of gold in your gold items, then divide the karat number by 24 and multiply the result by 24. For instance, if your gold item has a hallmark of 22, then divide 22 by 24, which comes to 0.9166. Upon multiplying by 100, the result comes to 91.66%. You can also simply know the purity by keeping in mind that pure gold is 24 parts of gold. This means that any 22K gold item will be 22 parts of gold, and two parts of metal alloys.

Characteristics of 24K gold:

Purest form of gold: 24K gold is the purest form of gold. It has 99.99% of gold. You might wonder why despite being the purest form, it is not 100% gold? This is because 100% gold, at room temperature, is too soft to hold its shape or form. So after the ore is extracted, manufacturers process it till the purity level of 99.99%.

Not used to make jewellery: As the gold is very soft, it is neither used for jewellery, nor for decorative items. It is used mainly to make gold coins and bars. It is also used in manufacturing electronics, medical devices and some other industrial equipments.

Colour: 24K gold has a distinct yellow colour as compared to other karats which are paler.

Cost: 24 karat gold is the most expensive of all gold variants. In the first week of September 2019, the price of one gram of 24K pure gold in Delhi was Rs 3,965 3 as compared to Rs 3,845 of 22K gold.

Other types of gold

22K gold: This type of gold means that 22 parts of it consists of gold, and the remaining two parts are usually metals like silver, zinc or other alloys. In other words, out of 100%, only 91.67% is pure gold. Because of additional of these metals and alloys, the texture of the jewellery is harder, more durable and scratch-resistant. You must, however, note that 22K gold can only be used to make plain gold jewellery. It is not suitable for making diamonds or precious stones studded jewellery.

18K gold: This gold is a mixture of 75% pure gold mixed with alloys and metals like nickel and silver. Generally, 18K gold is used in making studded jewellery, including diamond embossed jewelleries. It is usually paler in colour as compared to 24K and 22K gold.

14K gold: This gold consists of around 58.5% of pure gold. As it has a large mixture of other metals, the jewellery is usually more durable. It is more popular in Western countries vis-à-vis India. Nonetheless, it offers a great mix of purity, durability, affordability and value for money.

Colours of gold: 24K gold has a rich and bright yellow colour, which cannot be changed unless the purity is decreased. Gold can be made of different colours like pink/rose, green and white by adding different alloys. Colours can also be changed by electroplating, but the effects are temporary. Based on the mixture of various alloys, there are three different colours of gold:

White gold: The white colour tone in the jewellery is achieved after adding nickel or palladium in the gold.

Pink/Rose gold: Here, copper is added to the gold to impart it a rose-coloured sheen.

Green gold: Although not very popular, gold can be provided with this colour by adding more of zinc and silver.

Tips for gold buyers:

24 karat = 99.5% - 99.9% of gold

22 karat = 91.7% gold

18 karat = 75% gold

14 karat = 58.3% gold

12 karat = 50% gold

10 karat = 41.7% gold

Purchasing gold online: With the advent of technology, you can now easily buy 24K gold, or any karat gold of your choice online. You can opt for purchasing 24 carat gold online on Finserv MARKETS, which is not only completely transparent, but also ensures value for your money. Gold rates on Finserv MARKETS are usually market-linked, which is the same across India. If you wish to purchase a digital gold here, then you must note that each quantity of the digital gold purchased, is actually backed by real physical gold. Safety lockers are also provided to digital gold investors sans any additional charge.

Where to buy the best 24K gold?

When it comes to investing your hard-earned money in the purest form of 24K gold, you should never compromise on safety, quality and authenticity. Instead of visiting stores or goldsmiths, you can easily purchase physical gold online on Finserv MARKETS. Here, you can avail multiple options like purchasing, selling and delivery of physical gold at the click of a button. You can also purchase gold in small amounts. With more than 100 million satisfied customers across the country, Finserv MARKETS is invariably the most convenient and reliable platform when it comes to investing in gold.

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