Just before the wedding, the group of bullion dealers in the bullion market has begun to grow. When buying gold jewelry, people often ask for a gold price and the jeweler will tell you the price for something else, anything else. In this case, your chances of cheating are very high. You can offer 22 carat gold by saying 24 carat gold as jewelery. Or by paying the price of 22 carat gold, you can come home with jewelry made of 18 carat gold. For this, you first need to know how much gold is purity according to carrots and how its prices are determined.
Find out the gold price first
If you are going to buy gold or silver, definitely know the price of gold before buying or selling. Location rates can be found by visiting the IBJA ie Indian Bullion Jewelers Association website https://ibjarates.com/. If you speak today or Thursday, April 1, according to IBJA, the retail price of gold jewelery in bullion markets across the country is Rs 4492 per gram. (Good gold).
Gold Price Latest: Big changes in gold and silver prices, know today’s prices
At the same time, the price of 22 carats is Rs 4339 and the price of 18 carats is Rs 3593 per gram. 14 Carat Price Rs. I will tell you that real gold is only 24 carats, but it gives no evidence, because it is too soft. 22 carat gold is used for jewelery, of which 91.66% is gold.
Explain that the rates offered by IBJA are universally accepted across the country. However, 3% GST (GST) is not included in the rate offered on this website. When selling gold, you can refer to the IBJA rate. It is important to mention here that if you know the price in advance, you can get good prices from jewelry retailers.
When buying jewelry, be sure to check out Hallmark
If you are going to buy jewelry, be sure not to take only jewelry that has a hallmark. It’s hard to find the right price for jewelry made by Hallmark when selling again. Explain that at the time of sale, the value of the hallmarked jewelry is set at the current market price. So only buy Hallmark certificate jewelry.
375 37.5% Pure Gold
585 58.5% Pure Gold
750 75.0% Pure Gold
916 91.6% Pure Gold
990 99.0% Pure Gold
999 99.9% Pure Gold
Generally, the jewelry dealer sells 22 carat or 91.6% gold jewelry. 22 carat jewelry bearing 915 Hallmark mark. Of the 18 carat jewelry, gold is about 75 percent pure.
The purity of gold
24 carat 99.9
23 carat 95.8
22 carat 91.6
18 carat 75
14 carat 58.5
Gold prices are determined this way
- 1 carat gold is 1/24% gold, if your jewelry is 22 carat, divide 22 by 24 and multiply by 100. (22/24) x100 = 91.66 That means 91.66 purity of gold used in your jewelry.
- 24 carat gold on TV is 40000 and if you are going to buy it in the market, the price of 22 carat gold (40000/24) will be x22 = 36,666.66 rupees. The jeweler gives you 22 carat gold for 400 carat. That is, you are buying 22 carat gold at 24 carat gold price.
- Similarly, 18 carat gold will be fixed. (40000/24) x18 = 30,000, but jewelers will cheat you by making the same offer with gold.
Note: If you buy gold according to this calculation, you will never be cheated in the market.
Fund for charging
Apart from the gold price, there is also a Making Fee. Charges include remuneration and clothing. As for the design of the jewelry, there is a making charge. Fine and sculpted jewelry attracts high fees. Branded jewelers have high fees. Making fee is charged per gram. Preparation fees range from 3 percent to 25 percent. In jewelry, the cost of clothing is 2–5%.