We live in a world where your wealth is traced to the amount of gold you own! If you own a sufficient amount of gold for your present and future generation, you are considered a wealthy person and vice versa. Keeping gold with you is like a lifetime investment, as you can always get cash for your gold and cover all your future expenses. There is no denying the fact that gold has always been a symbol of wealth, culture, prosperity, and prestige. Even today, gold holds a sentimental value for people.
Knowing and determining the value of gold is, however, not easy as it may appear. The price of gold depends on its carat value. At present, you may find gold in various carat forms like 18k. 20k, 22k, and 24k. But when it comes to telling them apart, you may hesitate a bit! Therefore, we have curated everything you need to know about various carat gold and which is the best to buy. But before diving deep into the difference, let us discuss these types individually.
What is Carat?
A Carat in gold represents the purity of the gold alloy used in the ornament. They are further represented through numbers like 24, 22, 20, 18, 14, and 10. It is truly possible that some of the gold jewellery that you own is not in its purest form. Simply put, the gold must be mixed with some percent of alloy to make the jewellery affordable and sturdy!
The higher the carat number, the higher the gold’s value and purity. So if you want to get cash for your gold from gold jewellery buyers , then they will first determine the carat of gold in your ornaments. It gives any buyer a better idea of the value of the gold and the best price for that ornament.
Now that you know what a carat means, we’ll dig deeper into various types of carats and differentiate them on various factors!
24-Carat Gold is the top most in the purity chart. This gold represents 99.9% purity and has a notable yellow colour on the surface. 24-carat gold is difficult to craft into jewellery which is why it is preferably used by people for long-term investments. It is commonly found in coins and bars and is the most expensive of all other types of carat.
The density of 24-carat gold is lesser when compared with lower-carat gold, which is why they are soft and flexible to bend. However, to make them durable, they are mixed with a minimum amount of alloy. Such a combination is used in several electronics and medical utilities.
22-Carat Gold holds 22 parts of gold out of 24 parts in weight. The leftover two parts are minerals in their purest form, like nickel, brass, zinc, and other alloys. It has 91.7% pure gold, which goes effortlessly well for crafting gold jewellery. The density of a 22-carat gold becomes rigid when combined with alloys. They are most commonly used in making gold jewellery, mostly wedding jewellery worn occasionally.
A 20-Carat gold holds 20 parts of gold out of 24 parts. They are crafted with 16.7% alloy and have 83.3% gold in their purest form. If you are a fan of vintage jewellery, you’ll be pleased to know that 20-carat gold is used in crafting such jewellery. These jewellery are not a popular trend today, but many old-fashioned people still adorn them!
18-carat gold is the perfect composition of 75% gold and 25% of other metal alloys like brass, copper, bronze, etc. This type of gold is most commonly found in stone-studded jewellery and other diamond jewellery. This gold is the most affordable, which is why it is the most preferred! You can also find 12-carat and 10-carat jewellery in the jewellery shops to cater to all buyers. Such a composition represents a lower amount of gold with a higher amount of alloys.
Now that you have a basic idea of all types of carats. Let us list all the notable differences in a tabular form to understand them in a better way!
Which one is the best to buy?
Now that you are aware of all the types, you must be wondering which carat gold is the best to buy! But bummer alert, there is no such thing as the best type of gold since it purely depends on how you plan on using that gold. When it comes to gold jewelry, it depends on how often you will use that gold ornament.
As per the differences mentioned above, you can go for 18k, 20k, and 22k gold for jewellery purposes. However, if you are seeking gold for investment purposes, then 24k gold is the one for you! Rest assured, no matter which gold you may go for, your gold will glitter anyways!
When thinking about selling gold, you may always need clarification regarding the price worth of your gold. Well, now that you know it all depends on the carat of gold you possess, it is easy to go for selling options. Many people go for cash for gold, cash for silver , and other selling schemes to get the best price for their gold!
We are one of the preferred places to sell your gold and get the best deal for your ornaments. From Gurgaon to Delhi, our branches can cater to all your gold investment needs with our lucrative deals and offers. So, if you are still wondering where to sell gold in Gurgaon, our Gurgaon branch is here to serve you. Get the best deal on your gold today and invest for a better future!