Gold Rate in India Calculator

Gold Jewellery Price Estimator

function calculateJewelleryPrice() { // Get input values var rate10g = parseFloat(document.getElementById('goldRate10g').value); var weight = parseFloat(document.getElementById('goldWeight').value); var mcPercent = parseFloat(document.getElementById('makingCharges').value); // Validation if (isNaN(rate10g) || isNaN(weight) || isNaN(mcPercent) || rate10g <= 0 || weight <= 0) { alert("Please enter valid positive numbers for Gold Rate and Weight."); return; } // Calculation Logic // 1. Calculate rate per gram var ratePerGram = rate10g / 10; // 2. Calculate Basic Gold Value var basicGoldValue = ratePerGram * weight; // 3. Calculate Making Charges Amount var makingChargesAmount = basicGoldValue * (mcPercent / 100); // 4. Subtotal (Taxable Value) var subtotal = basicGoldValue + makingChargesAmount; // 5. Calculate GST (Standard 3% in India) var gstAmount = subtotal * 0.03; // 6. Grand Total var grandTotal = subtotal + gstAmount; // Formatter for Indian Rupee var formatter = new Intl.NumberFormat('en-IN', { style: 'currency', currency: 'INR', minimumFractionDigits: 2, maximumFractionDigits: 2 }); // Update DOM document.getElementById('resGoldValue').innerText = formatter.format(basicGoldValue); document.getElementById('resMakingCharges').innerText = formatter.format(makingChargesAmount); document.getElementById('resSubtotal').innerText = formatter.format(subtotal); document.getElementById('resGST').innerText = formatter.format(gstAmount); document.getElementById('resGrandTotal').innerText = formatter.format(grandTotal); // Show results document.getElementById('resultDisplay').style.display = 'block'; }

Understanding the Gold Rate in India

Buying gold in India is not just a purchase; it is an investment and a cultural tradition. However, the final price you pay at the jewelry store is often significantly higher than the market rate you see on the news. This Gold Rate Calculator helps you break down the actual costs involved in buying jewelry, including the invisible components like making charges and GST.

How Gold Price is Calculated in India

The pricing formula used by most jewelers in India follows a standard structure. To estimate your budget accurately, you need to understand the four main components:

• Gold Rate per Gram: Gold rates are usually quoted per 10 grams. If the rate is ₹60,000 for 10g, the price for 1 gram is ₹6,000. This rate fluctuates daily based on international markets.
• Weight: The actual weight of the gold in the jewelry item, measured in grams.
• Making Charges (Wastage): This is the fee for the labor involved in creating the jewelry. It typically ranges from 8% for simple chains to 25% or more for intricate antique designs.
• GST (Goods and Services Tax): As per current Indian tax laws, a flat 3% GST is applied to the final value of the jewelry (including the making charges).

The Calculation Formula

You can calculate the final price using this formula:

Final Price = (Price of Gold + Making Charges) + 3% GST

Where Price of Gold = (Rate per 10g / 10) × Weight in grams.

24K vs. 22K Gold: Which Rate to Use?

It is crucial to input the correct rate into the calculator:

• 24K Gold: Pure gold (99.9%). It is too soft for intricate jewelry and is mostly used for coins and bars.
• 22K Gold: Standard for jewelry (91.6% gold, mixed with copper/zinc/silver). When buying necklaces, bangles, or rings, ensure you use the 22K gold rate in the input field above, not the 24K rate, as 22K is cheaper.

Why Making Charges Vary

Making charges are not fixed by the government. They vary from jeweler to jeweler and city to city. Machine-made jewelry often attracts lower making charges (around 8-12%), while hand-crafted temple jewelry or studded pieces may have higher charges. Always negotiate on the making charges, as this is the variable component where you can save money.