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Gold and silver jewellery price calculator

Written and reviewed by Omm · Last reviewed · General information, not investment advice

The price on a jewellery bill is more than the weight times the rate. Enter today’s rate, the weight and the purity, then the making charges and GST, to see the total you pay, and how much of it you would not get back if you sold the piece.

Metal

Between 1 and 1000000

Enter the rate from your jeweller or a trusted rate board: it changes through the day and differs by city.

g

Between 0.1 and 10000

Purity
Making charges as
%

Between 0 and 100

Making charges, GST and buy-back
%

Between 0 and 30

%

Between 0 and 50

You pay 13.30% more than the metal is worth. The price per gram must rise about 13.30% before selling it back returns what you paid.

Total you pay

₹1,03,858

Value of the metal

₹91,667

Making charges

₹9,167

GST

₹3,025

Worth if you sell it back

₹91,667

Paid but not recovered on selling

₹12,192

How it works

Metal value = rate per gram × weight × purity. Total = (metal value + making charges) × (1 + GST). Making charges = % of metal value, or ₹ per gram × weight

The rate you enter is for 24 carat gold (99.9% pure) or 999 silver. Other purities are priced in proportion: 22 carat is 22 ÷ 24 of the 24 carat price, 18 carat is 18 ÷ 24, and 925 sterling silver is 925 ÷ 999 of the 999 price.

Jewellers add making charges for the work, either as a percentage of the metal value or as a rupee amount per gram. They vary by jeweller and by design, and they can often be negotiated. GST is then charged on the metal value plus the making charges; the default is 3%, which you can change.

If you sell the piece back, you generally get the value of the metal at that day’s rate, sometimes after a deduction. The making charges and GST you paid are usually not returned. The calculator shows how much that is, and how far the price per gram must rise before selling it back returns what you paid.

The rate is not looked up for you, because it changes through the day and differs by city. Enter the rate from your jeweller or a trusted rate board. Hallmarked gold jewellery carries a BIS hallmark and a six-character HUID code that you can check, and it is worth looking for.

Example. At an example rate of ₹10,000 a gram for 24 carat gold, 10 grams of 22 carat jewellery has a metal value of ₹91,667. With 10% making charges (₹9,167) and 3% GST (₹3,025) the bill is ₹1,03,858. Sold back at the same rate, it fetches the metal value of ₹91,667, so about ₹12,192 is not recovered.

Read the guide: Buying gold and silver: jewellery, coins, funds and what each costs.

Frequently asked questions

How is the price of gold jewellery calculated?

Weight × the rate for the purity gives the metal value. The jeweller adds making charges, then GST on the total. The calculator does each step and shows the amounts separately.

What is the GST on gold jewellery?

GST on gold and gold jewellery has been 3%, charged on the metal value plus making charges. Rates can change, so check your bill; you can change the percentage in the calculator.

What are making charges?

They pay for the design and the work. They are shown as a percentage of the metal value or a rupee amount per gram, and they differ widely between jewellers and between plain and detailed designs. They are often negotiable.

Do I get the making charges back if I sell?

Usually not. Jewellers generally buy back at the value of the metal, sometimes after a deduction, so the making charges and GST are a cost. This is why jewellery is a poorer way to hold gold as an investment than coins, bars or gold funds.

What is the difference between 24 carat and 22 carat gold?

24 carat gold is about 99.9% pure. 22 carat gold is 22 parts gold in 24, about 91.6% pure, mixed with other metals to make it harder for jewellery. A 22 carat piece is therefore priced at about 22/24 of the 24 carat rate.

How many grams is one tola of gold?

One tola is about 11.66 grams (11.6638 g). Some jewellers use "tola" loosely for 10 grams, so ask which they mean. Multiply the tolas by 11.66 and enter the weight in grams.

What is wastage on gold jewellery?

Some jewellers add a "wastage" percentage for metal lost while making the piece, separately from making charges. It works like a making charge: add the two percentages together and enter the total as the making charge here.

What is hallmark and does it change the price?

A hallmark is the Bureau of Indian Standards mark that certifies the purity of the piece. It does not change how the price is worked out, but it tells you the purity you are paying for is the purity you get. A small hallmarking fee per piece may be added to the bill.

Sources

Rules, rates and definitions on this page come from these official sources. Check the current position there before you decide.

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