Before buying your gold jewellery, it is important to know the gold prices of various brands. When it comes to the price of gold, it differs depending on factors such as state, city, karat, and it also varies from shop to shop.
Given below are the gold prices of four jewellery famous brands in the country.
|Kalyan Jewellers||Rs 5625|
*The gold prices are sourced from the jewellers’ website as on November 8, 2023 (Date) and 12.26 pm (time).
Jewellery made of gold is available in various Karats (KT). The measurement for gold purity is called karat. The purest kind of gold, 24KT gold, is too soft to be used for jewelry-making. The most common type of gold used in jewellery is 22KT, which has 91.6% gold in it. One can buy gold jewellery in 18Karat and 14Karat as well. The price of 18Karat and 14Karat gold will be lower than 22Karat gold.
How jewellers set the price of gold jewellery
The price of gold jewellery depends on three things – a) parts of gold in the jewellery, that is, 22KT or 18KT or 14KT, b) type of metal used to mix with the gold and c) making charges levied on that piece of gold jewellery.Depending on the intricacy of the design of the gold jewellery you are purchasing, different making charges will be applicable. This is because each ornament calls for a unique cutting and finishing approach. It also depends on whether the design is machine- or man-made, and how much fine detail is needed. In general, machine-made jewellery is less expensive than hand-crafted items.
However, these rates are exclusive or GST and making charges. Gold hallmarking
The purpose of hallmarking is to confirm the purity of gold bought. The Bureau of Indian Standards (BIS) performs the hallmarking process, which certifies the purity of the gold that is used. A jeweller is prohibited from selling gold jewellery without a six-digit alphanumeric HUID code as of April 1, 2023.
When purchasing gold jewellery, a buyer needs to consider four things: determining the gold’s purity, comprehending the jeweller’s exchange procedures, being aware of the product guarantee, and making sure the bill is transparently broken down.