• Reports of investors, citizens and even politicians being duped by rogue gold peddelers underscore the need for careful scrutiny.
• So, next time you plan to buy gold or precious mineral jewelry, a ring, or a souvenir, ensure that you are well-informed.
Image: BBC/Getty
In the perpetual dance of life, the wedding season remains a cherished tradition, bringing friends and family together in joyous celebration.
Among the myriad matrimonial symbols, the wedding ring stands out as a potent token, signifying the culmination of a union.
Gold, one of the most valued commodities globally, has captivated humanity since the biblical era of Solomon.
It graces occasions of grandeur, from the sacred exchange of vows to the triumphs celebrated with the World Cup trophy.
This lustrous yellow metal originates from deep within the earth’s bowels, extracted from depths as great as 100 feet in the form of rocks.
The rocks are crushed into powder, searching for small microns that eventually become solid grams of gold. Kenya’s terrain, rich in both hard rock and alluvial deposits, yields this precious metal.
Regions like Migori, Kakamega, Narok, Siaya, and Busia are renowned for hard rock mining, while Turkana, West Pokot, Moyale, and Isiolo are known for alluvial gold mining.
The gold value chain presents a fascinating landscape for many stakeholders, from investing in operations and purchasing mining equipment to mobilising communities to pursue extraction and refinement. However, the industry is not without its pitfalls.
Reports of investors, citizens and even politicians being duped by rogue gold peddelers underscore the need for careful scrutiny.
So, next time you plan to buy gold or precious mineral jewelry, a ring, or a souvenir, ensure that you are well-informed.
When buying gold jewelry or gifts for loved ones, it is crucial to understand the purity of gold. Gold purity is measured in karats, with 24-karat gold being pure gold.
However, pure gold is too soft for everyday wear, so it is often alloyed with other metals. Common purities include 18k, 14k, and 10k.
Understanding the karat rating helps you know the gold content and durability of the piece.
Verifying the authenticity of gold is paramount. Always purchase gold from reputable jewelers who provide a certificate of authenticity.
This certificate should detail the karat, weight, and other specifics of the gold piece. Look for certification or hallmarking, which indicates the piece has been tested and verified for its gold content.
This certification acts as a guarantee of the gold’s purity and quality. In many countries, gold jewelry is stamped with a certification that indicates the gold’s purity, the manufacturer, and sometimes the place of certification.
These stamps are a sign of authenticity and should be checked carefully. Understanding the price of gold jewelry or gifts for loved ones is also essential.
The price is influenced by the purity, weight, and current market value of gold, as well as craftsmanship. Be aware of the gold price per gram and how much of the cost is attributed to making charges.
This awareness helps in making informed decisions and ensures you get value for your money.
It is equally important to inquire about the return policy. Reputable jewelers will offer a return or buyback policy. Ensure you understand the terms and conditions in case you need to return or exchange the piece. This policy adds a layer of security to your purchase.
That said, beware of scams in the market. The allure of gold can attract unscrupulous sellers. Be cautious of deals that seem too good to be true and always purchase from reputable sources.
If you are investing in larger quantities of gold, consider involving professionals such as mining engineers or geologists, or use professional testing machines.
Their expertise ensures you get what you pay for and provides peace of mind. Understanding the craftsmanship involved in making gold jewelry is another vital aspect.
The value of gold jewelry is not just in the metal but also in the craftsmanship. Handcrafted pieces or those with intricate designs might carry a higher premium than others.
The journey of gold, from its extraction to becoming a cherished symbol of love, is a testament to human ingenuity and resilience.
As we exchange our vows and slip these rings onto our fingers, we are reminded of the profound connection between the earth’s depths and our eternal commitments.
So next time you plan to buy gold or precious mineral, jewelry, a ring or souvenir, make sure to involve a professional, you not only stand a chance to understand precisely what you are buying but also ensure that you pay the right price for your valued purchase.
The writer is a Mining and Mineral Processing Engineer working with artisanal and small-scale gold miners in Migori.
