How is the bill of your gold ring calculated? Have you paid more? Ask the jeweler clearly women-and-finane-how-is-gold-jewellery-charges-are-calculated-beware-of-overpayment-while-buying-gold

Gold and Silver Price 22K check today: In India, gold and silver are the favourite metals not only for celebration and happiness, but also for worship and gifts. In such a situation, when you get gold jewellery made, are you aware of the fact that you are paying the correct rate for the jewellery you are buying? That is, you usually believe the jeweller’s words regarding the total rate at which you are getting a gold ring or your Naulakha necklace. You should know what charges are there in the bill that is being given to you after liking the thing. These charges should be correct, not double calculated, added to the total rate in the correct proportion, you should read and understand this by taking the bill in your hand. Let’s decode it:

Recently, the price of 24 carat gold had gone up to more than Rs 75,000 per 10 grams. Today, on 24 May 2024, the rate of gold (New Delhi, 22 carat) is Rs 68,300 per 10 grams. At the same time, the price of silver is Rs 970 per 10 grams at this time. 22 carat gold is usually used to make gold jewellery. Apart from 24K, all the carats, such as 22k, 19k, 16k, have copper or silver mixed in them for strength so that they last. Gold is very soft, so it is adulterated to mold it into jewellery or any other form. Only gold with BIS hallmark should be purchased because it certifies the fixed quality of purity. ,22 carat gold vs 24 carat gold: Which gold will give you a lot of money in the future, if you know this then you will take the right decision)

Jewellers determine the price of gold jewellery as follows:

When you buy jewellery, the current price of gold, making charges and the cost of any meena, gems, pearls etc. included in the jewellery are included. If you buy jewellery amidst skyrocketing gold prices, then exercise utmost caution and invest your hard-earned money in the right metal at the right price. ,(For more such information related to women and personal finance, you can click here.)

While deciding the rate of gold jewellery, making charges, which can be from 10% to 25%, are added to it. This is in addition to the price of gold (the total cost of gold used in making the jewellery). The total price of your gold jewellery will be – price of gold (weight in grams) + making charges + 3 percent GST + hallmarking charges. Making charges are calculated on a per gram basis. Jewellers usually charge 1 percent of the current price of gold. GST is levied on the total price of gold jewellery (including making charges). Your bill should have the total weight of the jewellery, weight of gold, purity in carats mentioned. ,If you want to check the purity of gold, click here to know easy methods)

You can understand the total bill from Tanishq CaratLane through this example:

Suppose the current price of 10 grams of 22K gold is Rs 50,950.
The price of one gram gold will be Rs 5,095.
If you want to get a gold bangle weighing 5 grams, then you will calculate it as follows – 5095 X5= Rs 25475.
If we assume making charge to be 10% of the gold price, then it will be Rs 2,547.5.
That is, the total price will be Rs 25475 + 2547.5 = Rs 28022.5.
Adding 3% GST to this will make it Rs 840.70 (rounded off)
Your bill will be- Rs 840.7 + Rs 28022.5 = Rs 28863 (rounded off)

Tags: 24 carat gold price, fraud in Dhanteras, Gold Marking, Gold jewelery merchant, Gold Prices Today, Silver Price Today