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The precious metal known as gold has seen many uses over the centuries. While the most common usages have traditionally been the making of coins, bullion and jewelry, gold has also seen a variety of less typical uses.
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Gold is one of the most precious metals in the world. It is known not only for its intrinsic physical properties but also for its impact on the global economy. India’s gold market is mainly driven by the consumption and fabrication of the yellow metal into gold coins, gold jewelry and other gold articles.
The value of gold is measured by its purity which is denoted in karat (k) or carat (Ct). Higher karat signifies higher gold purity. Among Indians, 22K and 24K gold is quite a popular choice. If you are wondering which one of the two will be best suited for your requirements, read on.
24 Carat Gold: The 24 karat gold is the purest form of gold that anyone can get in the market. By the term “pure” we mean 99.99% pure. When we say a gold article is 24 karat “pure gold”, most people think it includes 100% gold, which is not the case.
If companies want, they probably can extract 100% gold from the ore but that will be very costly as well as impractical as gold at room temperature in its pure form is highly malleable (too soft to hold its shape or form). Therefore, gold is processed till 99.99% purity.
The presence of an impurity in gold imparts the metal rigidity to hold its form so that it can be easily used for minting coins, making gold bars and other industrial purposes. As far as its color is concerned, gold in its pure form shines with a distinct bright yellow color.
And if we talk about goldprice in India, it fluctuates every day. But since 24K gold is the purest form of gold, it is more expensive than 22 karat gold. 22 Carat Gold: The 22 karat gold has 22 parts of gold mixed with 2 parts of other metals such as copper, nickel, etc.
Gold of this karat is also known as ‘916 gold’ because it comprises of 91.67% of pure gold. The presence of other metals with the gold makes it harder than a 24K pure gold and resultantly, appropriate to make jewelry.
However, jewelers prefer 18 karat gold to 22 karat gold to make heavily studded ornaments. The color of 22 karat gold is pale yellow as it contains a lesser amount of gold. Also, its color can be changed by mixing other metals with it.
