Gold Price Calculator

Calculate 24K, 22K, 18K, 14K Gold Value | Making Charges & GST

๐Ÿท๏ธ 24K Rate: โ‚น7,200/g
Final Price = (Rate ร— Purity% ร— Weight) + Making + GST

๐Ÿ“– How Gold Jewelry Price is Calculated in India

The price of gold jewelry in India is not just the metal's value โ€” it includes multiple components: the base gold rate (24K per gram), the purity (karat), making charges for craftsmanship, and GST (3% on jewelry). Understanding each component helps you avoid overpaying and compare prices across jewelers.

๐Ÿ“ Gold Price Formula

Base Price = 24K Rate ร— (Karat รท 24) ร— Weight (g)
Subtotal = Base Price + Making Charges
Final Price = Subtotal + GST (3%)

๐Ÿ“Š Worked Example

Example: Buying a 10g 22K Gold Chain with 8% Making Charges

Given: 24K rate = โ‚น7,200/g | Weight = 10g | Karat = 22K | Making = 8% | GST = 3%

Step 1 โ€” Base Price: โ‚น7,200 ร— (22 รท 24) ร— 10 = โ‚น66,000

Step 2 โ€” Making Charges: โ‚น66,000 ร— 8% = โ‚น5,280

Step 3 โ€” Subtotal: โ‚น66,000 + โ‚น5,280 = โ‚น71,280

Step 4 โ€” GST (3%): โ‚น71,280 ร— 3% = โ‚น2,138.40

Step 5 โ€” Final Price: โ‚น71,280 + โ‚น2,138.40 = โ‚น73,418.40

๐Ÿ“Š Gold Purity Chart (Karat to Percentage)

KaratPurity %Common Usage
24K99.9%Investment bars, coins (soft, not for daily wear)
22K91.67%Indian jewelry โ€” hallmarked, most common
20K83.33%Some regional jewelry
18K75%International/diamond jewelry
14K58.33%Durable daily wear jewelry

๐Ÿ’ฐ Gold Weight Conversions

๐Ÿ”จ Making Charges Guide

๐Ÿ’ก Gold Buying Tips

โš ๏ธ Limitations & Assumptions

Important Notes

  • The gold rate entered is a manual value โ€” this calculator does not fetch live IBJA rates.
  • Does not include stone/diamond value, wastage charges, or hallmarking fees.
  • Making charges vary by jeweler, city, and design complexity.
  • Does not account for old gold exchange or buyback deductions.
  • Results are estimates only. Actual invoice may include additional charges.

๐Ÿ“š References & Sources

Authoritative Sources

  • IBJA โ€” India Bullion and Jewellers Association (ibja.co)
  • BIS โ€” Bureau of Indian Standards (bis.gov.in) โ€” Hallmarking
  • CBIC โ€” GST on Gems and Jewellery
  • MCX โ€” Multi Commodity Exchange (Gold Futures)

โ“ Frequently Asked Questions

What is the difference between 22K and 24K gold? โ–ผ
24K gold is 99.9% pure โ€” it's very soft and used mainly for investment bars and coins. 22K gold is 91.67% pure (mixed with 8.33% alloy like copper/silver) making it durable enough for jewelry. In India, most jewelry is 22K, and it's always BIS Hallmarked with a 6-digit HUID code.
What are making charges in gold jewelry? โ–ผ
Making charges (also called labor or wastage charges) are the cost of crafting raw gold into jewelry. They range from 5% to 25% of the gold value depending on design complexity. Simple chains and bangles typically cost 5-8%, while heavy bridal sets can go up to 20-25%. Always ask for making charges in percentage, not flat rupees.
How much GST is charged on gold jewelry? โ–ผ
GST on gold jewelry in India is 3% โ€” split equally as 1.5% CGST (Central GST) and 1.5% SGST (State GST). For inter-state purchases, 3% IGST applies. Gold coins and bars also attract 3% GST. Making charges are also taxed at 3%.
What is BIS Hallmark and HUID? โ–ผ
BIS Hallmark is a certification by the Bureau of Indian Standards guaranteeing gold purity. Since 2021, all gold jewelry must carry a HUID (Hallmark Unique Identification) โ€” a 6-digit alphanumeric code that can be verified. You can check it on the BIS Care app. Always buy hallmarked gold.
What is the difference between Sovereign, Tola, and Ounce? โ–ผ
1 Sovereign = 8 grams (common in South India). 1 Tola = 11.6638 grams (traditional North Indian unit). 1 Ounce (Troy) = 31.1035 grams (international standard for gold trading). These units are still widely used in different parts of India.
How can I verify the gold rate before buying? โ–ผ
Check the daily gold rate on IBJA (ibja.co) โ€” the official body that publishes 22K, 24K, and 18K rates across Indian cities. Most jewelers set their prices based on IBJA rates plus making charges and GST. Avoid buying when rates spike โ€” track for a few days.

๐Ÿ”— Related Calculators

โš ๏ธ Disclaimer

Important

This Gold Price Calculator is provided for informational and educational purposes only. It does not fetch live gold rates โ€” you must enter the current rate manually. Actual jewelry prices may include additional charges like wastage, hallmarking fees, and stone value. Always verify the rate with your jeweler and check BIS Hallmark before purchasing. This is not investment advice.