Gold Rate Calculator with Making Charges
Percentage (%) per gram
Flat Rate per gram
Price Breakdown
| Basic Gold Price: | |
| Total Making Charges: | |
| GST Amount: | |
| Final Payable Amount: |
How to Calculate Gold Jewelry Price
Buying gold jewelry is more complex than simply checking the daily gold rate. The final price you pay at a showroom includes several variables beyond the raw material cost. This gold rate calculator helps you estimate the actual cost including making charges and government taxes (GST).
The Standard Formula
Final Price = (Gold Weight × Gold Rate) + Making Charges + GST (3% on Total)
Key Components Explained
- Gold Rate per Gram: This depends on the purity. 24K is pure gold, whereas jewelry is usually made in 22K, 20K, or 18K to ensure durability. Ensure you check the rate specific to the karat you are buying.
- Making Charges: Jewelers charge for the labor and craftsmanship involved in creating the piece. This can be a flat fee per gram (e.g., $5/gram) or a percentage of the gold value (e.g., 12%). Intricate designs usually carry higher making charges.
- GST (Goods and Services Tax): Currently, a standard 3% GST is applied to the sum of the gold value and the making charges.
Practical Example
Suppose you are buying a 10-gram gold chain:
| Description | Calculation |
|---|---|
| Gold Rate (22K) | $60 per gram |
| Gold Value | 10g × $60 = $600 |
| Making Charges (10%) | 10% of $600 = $60 |
| GST (3%) | 3% of ($600 + $60) = $19.80 |
| Final Price | $679.80 |