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Gold has always been an integral part of Indian culture, whether it’s for investment, weddings, or tradition. But how do we determine its daily price?
Gold pricing is influenced by a mix of international trends and local market factors. While the global gold price is based on the spot market in USD, the price in India includes duties, currency conversion, and more.
Several factors contribute to gold pricing:
Gold purity is measured in karats (K):
Karat | Purity | Usage |
|---|---|---|
24K | 99.9% | Pure gold (soft, not used for jewellery) |
22K | 91.6% | Common for Indian jewellery |
18K | 75% | Used for diamond-studded jewellery |
14K | 58.5% | Durable and budget-friendly |
Always check for the BIS Hallmark, which guarantees purity.
Here’s a basic formula:
Gold Price Per Gram = (Gold Price per 10g ÷ 10) + Making Charges + GST
Final Price = ₹6,500 + ₹400 + GST = ₹7,101/g (approx)
Since lower karats have less gold, calculate using the purity percentage:
Price = (Purity ÷ 24) × Current 24K Price
Karat | Purity % | Price (If 24K = ₹6,500/g) |
|---|---|---|
22K | 91.6% | ₹5,954/g |
18K | 75% | ₹4,875/g |
14K | 58.5% | ₹3,802/g |
Besides the standard charges, some jewellers may include:
Total Price =
Gold Cost: ₹59,540
Making: ₹5,000
Subtotal: ₹64,540
GST: ₹1,936
Final Price: ₹66,476
Many websites and apps let you estimate the gold price.
Reliable ones include:
Still, always confirm with a local jeweller before purchase.
Top Ways to Track:
Pros:
Cons:
Consider digital gold or gold ETFs as smarter, low-maintenance options.
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1. What is the best way to calculate the gold price in India?
Use the per gram rate, add making charges and 3% GST to get the final price.
2. What is the difference between 22K and 24K gold?
24K is pure gold (99.9%) and too soft for jewellery, while 22K (91.6%) is stronger and commonly used.
3. Are lab grown diamonds real?
Yes, they’re chemically and physically identical to mined diamonds, just created in labs.
4. Why is the gold price different in every city?
Local taxes, transportation, and jewellers’ pricing policies create variations.
5. Is it better to invest in gold or lab grown diamonds?
Gold is for long-term investment; lab grown diamonds offer luxury at a lower cost and are eco-friendly.
6. How do you verify gold purity?
Look for the BIS hallmark, which confirms the karat and purity.
7. How to calculate the gold price formula?
Gold Price = Gold Weight × Gold Rate per Unit × Purity (%)
Example: 10g × ₹70 × 0.916 (22K) = ₹641.20
