Top Tips when Buying Gold Jewellery

Gold purchases are not casual transactions like choosing what to eat for dinner or what to wear for brunch. The whole process is an actual investment, from knowing the gold rates to checking important factors like hallmarking, workmanship and weight of every item you are about to purchase. 

Stressed or unsure of how to start investing in gold jewellery? Do not worry, we got you! 

Here are our top 6 tips when buying gold jewellery: 

1. Check the Prevailing Gold Rate

This may sound elementary but you would be surprised by how many people tend to skip over this crucial step when purchasing gold. The price of gold fluctuates daily dependent on the market rate, and can’t be bargained with.

You may check our updated gold rates on the menu bar above  ↑ .

2. Importance of Hallmarking

We can't stress enough how important hallmarking is for precious metals like gold. Hallmarking ensures that precious metals like gold are checked and certified for their stated purity.

You would never want to purchase a beautiful gold ring and find out that its actual purity defers from its stated purity.

Here at Chip Lee Jewellery, all gold jewellery and ornaments above 1g are checked and certified by the SAO (Singapore Assay Office). This is to ensure your peace of mind in every purchase.

Read more about the Importance of Hallmarking here!

3. Pricing

The price of gold jewellery and ornaments is determined by 4 main factors, gold purity (eg. 18K, 22K, 24K), weight, workmanship (labour) and tax.

The cost of workmanship differs for every vendor, even for similar products. Some jewellers might have higher workmanship and labour than others. Hence, it is very important to do your research to shop around before making a purchase.

4. Weight

The weight of gold jewellery in Singapore is commonly measured in grams, with heavier pieces costing more. It is imperative to verify the weight of your intended purchase before payment. 

5. Check the Resale / Exchange Rate

Gold is more of an investment than a casual purchase. It is imperative to know how much your jewellery can fetch on a later day if you were to trade-in or sell them. 

For more information regarding our trade-in policy, please visit or call any of our stores for our friendly staff to assist you!

6. Proof of Purchase

Always verify and keep your invoice when purchasing gold jewellery. Ensure that key details like prevailing gold rate, weight of product, tax and the total amount paid are all finely printed in your invoice. 

It is best to keep your proof of purchase if you intend to sell the same gold for a profit after a few years, you'll need to know the purchase price to figure out how much you gained or lost for your purchase. 

Summary

All in all, purchasing gold jewellery and ornaments should be a well-thought-out and researched purchase. Always go to a jeweller that you know and trust, and not settle for a cheaper alternative.

Quality is a pivotal factor when purchasing precious metals like gold. You do not want to purchase a chain from a jeweller that can fetch gold jewellery and ornaments at a lower price and find out after that it was not its stated purity.

Visit any of our outlets for our friendly retail staff to assist you in your gold-buying journey.