Gold is popular among Asian families in the UK including gold bangles, jewellery, chains, rings, earrings, wedding gifts and more. For those looking to sell any Asian gold in their possession, it’s valuable to understand how to identify your gold’s worth, particularly due to the Indian hallmarking system differing from the UK.
What is Asian gold?
The term ‘Asian gold’ simply refers to jewellery traditionally bought and owned by South Asian families. The gold is usually passed down through generations of the family as heirlooms and can be worth large sums of money.
Asian gold is usually measured in ‘tola’ in South Asian countries like India and Pakistan, as opposed to grams, as this was the metric used by Ancient Indian and South Asian people as the standard measurement of gold and silver bullion. For example, 1 tola = ⅜ troy ounce or 11.663 8038 grams of gold.
Whereas gold in the UK can range from 9 carats to 22 carats, Indian gold is usually manufactured at a minimum of 19 carats due to the belief in the culture that Indian gold is the highest possible purity.
What type of gold is Asian gold?
Asian gold is no different in type from standard British or American gold and differs in purities and weights, as is the case with all gold. Despite Asian gold differing in purity similar to British gold, Indian gold hallmarks are less strict than in the UK. Many pieces of jewellery, for example, are stamped as 22 carats, yet turn out to be lower in purity once tested.
In India, there are no laws in place around hallmarking gold or silver, instead, there is a voluntary Bureau of Indian Standards (BIS) hallmarking system in place to provide those buying and selling gold with reassurance about the purity of their items.
What is the Asian gold rate in the UK?
The rate of Asian gold should be no different from the going rate of gold manufactured in the UK, as all gold is standard. However, having your gold valued by professionals ensures that you know the accurate purity of your gold as opposed to just going off the stated carat. When your gold is valued by gold buyers or investors, they will only take into account the purity and weight of your gold.
The history of gold prices in the UK follows the general trajectory of increasing over time, with the most recent peak occurring in 2020 around the time of the COVID-19 pandemic which caused an economic crisis and led more people to attempt to invest in physical assets like gold.
When considering the current rate of Asian gold in the UK, it’s important to consider the wider picture and the pattern of gold prices generally to ensure you get the best price if you are planning to sell or invest.
How much is your Asian gold worth?
Due to the more relaxed regulations in India around hallmarking, it’s important to have Indian gold valued by a professional to find out its price, should you be interested in buying or selling gold manufactured in the country. This way, you can identify the accurate purity in carats and the weight of your gold to get an accurate and fair price.
Cash4Gold-Now has been in the gold industry for decades, helping our customers to value any gold jewellery, coins or scrap gold in their possession and exchange it for competitive prices and sums of cash. We can help to identify and validate the purity of your Asian gold items, so you can make an educated decision about whether to sell or keep hold of your gold.
You can find out the price of your Asian gold by requesting a free gold-selling pack and posting your gold for free or get in touch with the team for more information.