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Misleading and unethical gold exchange

Complain ID : CCN060286   36  

Consumer Forum Complaint Complaint Date: November 14, 2022
I visited the outlet at Gold Souk Gurgaon and purchased a gold necklace and earrings. I wanted to exchange 40gm of 22 carat gold. The weight and price was tested by the equipment at the store,

We were informed that the impurity in the gold might change upon melting. We understood and agreed to it. After the meltdown the gold was found to have 11% impurity so they adjusted the amount of gold to 35.63gm after the reduction of 11%. This is all good.

Now the 35.63gm of gold is pure gold or 24 carat. The scam begins here. Now i was told that the total amount will be calculated with the 22 carat gold price. I reasoned this and was told that is company policy. I was informed this after the melting process. At this point the customer has no way out.

The 22 carat gold itself means that there will be 9% impurity. So you are deducting this twice. Basically a customer is losing 10% every time and even without the knowledge.

This is not expected from a brand like Kalyan jewellers and if you want to retain a customer you should do it with full transparency. Jewellry business is all about trust.

I lost 4gm of 22 carat gold which is equivalent of ~Rs. 19000 due to this. I expect and hope for a resolution.
Complaint Against / To: Kalyan Jewellers

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