Gold Shop Example – DIGI TECH SOLUTIONS NFC

Gold Shop

Bengaluru, Karnataka

S Prakash

80486 67779

sushilsurhar09@gmail.com

No. 106, 1, AM Ln, Huriopet, Chickpet, Bengaluru, Karnataka 560053

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Account Details:

Name – BUSINESS NAME
A/C No. – 1085690660
BANK – STATE BANK OF INDIA
IFSC – SBIN0014798
Branch – SME, Erode

GSTIN : 29AABCY8798F1ZI

UPI ID: devayanidigitech@okhdfcbank

About Gold

Gold is a yellow precious metal, used in jewellery and decoration and to guarantee the value of currencies. This metal has been a valuable and highly sought after precious metal for coinage, jewellery, and other arts since long before the beginning of recorded history.
A total of 174,100 tonnes of gold have been mined in human history. The world consumption of new gold produced is about 50% in jewellery, 40% in investments, and 10% in industry.
Besides its widespread monetary and symbolic functions, gold has many practical uses in dentistry, electronics, and other fields. Its high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to many uses, including electric wiring, colored-glass production, and gold leafing.
Because of the softness of pure (24k) gold, it is usually alloyed with base metals for use in jewellery, altering its hardness and ductility, melting point, color and other properties. Alloys with lower carat rating, typically 22k, 18k, 14k or 10k, contain higher percentages of copper or other base metals or silver or palladium in the alloy. Copper is the most commonly used base metal, yielding a redder color.

Purity of Gold / Gold quality - Standards:

Gold quality — What is Karat?
Karat is a unit of purity for gold alloys, rather than weight. The Karat measures the proportion of pure gold mixed with other metal alloy to make up the final metal. We should always remember that Karat and Carat are two different units of measurement, where Karat is a unit of measurement of purity of gold, Carat is a unit to measure the weight of precious stones and gems.

Purity of Gold / Gold quality – Standards
24K Gold quality	too soft for fine jewellery
14K/18K Gold quality	ideal for fine jewellery
10K Gold quality	affordable for fine jewellery

Gold quality chart

Percent of Purity (Parts of gold per 100)	Gold European System (Parts of gold per 1000)	Karat System (Parts of gold per 24)
100%	999 Fine	24k
95.83%	958 Fine	23k
91.6%	916 Fine	22k
87.6%	875 Fine	21k
75.0%	750 Fine	18k
58.3%	583 Fine	14k
37.5%	375 Fine	9k

Different types of gold :-

Gold Filled, also called Gold Overlay, refers to a layer of at least 10-Karat gold that has been permanently bonded by heat and pressure to one or more surfaces of the support metal, then rolled or drawn to a prescribed thickness. The Karat gold must be at least 1/10th of the total weight.

Gold Plate means that a layer of plating of 10+ Karat gold has been bonded to a base metal. The Karat gold content may be less than 1/20th, but it must be properly identified by weight in terms of total metal content.

Gold Leaf is just gold plating that’s been pounded and applied by hand.

Gold Color

Yellow gold is alloyed with copper, zinc and silver. It is malleable, ductile, and generally non-corrosive, so it has a high melting point and is not susceptible to compression.

White gold is alloyed with copper, zinc and nickel. The percentage of gold naturally varies, according to the amount of other metal used. It is frequently used in diamond jewellery and considered a classic metal choice. White gold is highly reflective and not subject to tarnish.

Rose gold (also known as pink gold) is alloyed with copper, and in some cases silver. The proportions are about one part of copper to three parts of 24-karat gold.

Gold Hallmarking :-

Hallmark is the certificate of the purity of the gold. The process involves evaluation of gold products at Hallmarking & Assaying Centre which are later certified at national and international standards. The Jeweler who intends to get their jewellery hallmarked contacts Bureau of Indian Standards (BIS) for a license, after acquiring the license, the products are sent to Assaying and Certification Centre for certification.
The license is offered by BIS to the jewelers and the manufacturers once they complete the requirements as per IS 1417:1999, which ensures the purity and practice of gold products. The license enables the jeweler to trade the gold with credibility and trust to the customers.
If the product has the Hallmark of BIS’s logo, it signifies major traits like the fineness number, mark of Assaying and Hallmarking Centre (where the jewellery has been marked ) with the year of the mark and the manufacturers mark.

Checklist
Markings to look for while buying a hallmarked product:

1. BIS Mark

2. A three digit number (out of 6 predefined values) indicating the purity of the gold in part per 1000 format.

Fitness	Fineness of Gold
958	95.8 % or 23 Karat purity of gold
916	91.6% or 22 Karat purity of gold
875	87.5% or 21 Karat purity of gold
750	75.0% or 18 Karat purity of gold
585	58.5% or 14 Karat purity of gold
375	37.5% or 09 Karat purity of gold

3. Logo of the Assaying Centre:
The logo of the BIS recognized Assaying and Hallmarking Centre.

4. Year of Marking:
A code denoting the date of hallmarking.

5. Logo/Code of the jeweler:
Logo of BIS certified jeweler or manufacturer.

Advantages of Hallmarking / Certified Gold:
1.Protects consumer against victimization due to irregular gold quality.
2.Provides third party assurance and satisfaction about the purity of the gold for the given price (value for money).
3.Holds better value than the non-hallmarked counterparts, especially for resale and upgrading purpose.

Gold Jewellery care :-

1. Remove your gold jewellery before taking a shower, bathing or cleaning. Exposure to soap and chemicals can dull the gold, necessitating more frequent cleanings.
2. Handle your gold jewellery carefully, as delicate pieces and gem settings can also easily bend out of shape.
3. Buff your gold jewellery with a soft cloth if it seems to be losing its luster. This might be enough to restore the shine right away, with no further cleaning necessary.
4. Periodic Cleanings:
Mix a few drops of mild detergent in a bowl of warm water.
Dip each piece of gold in the mixture, one at a time.
Wipe the gold gently with a very soft cloth.
Rinse the gold gently in warm water until all traces of the foams are gone and water runs clear.
Buff and polish the gold gently with the soft cloth before you put the jewellery away.