This calculator helps you determine the cost of gold in India based on its purity, weight, and the current market rate. Enter the details below to get an instant estimate.
Understanding Gold Purity and Cost in India
In India, gold is often purchased in various purities, with 24K (24 karat) being the purest form of gold (99.9%). However, 24K gold is very soft and not ideal for jewelry. Therefore, it's often mixed with other metals like copper, silver, or zinc to increase its durability and strength. Common purities for jewelry include 22K (91.6% pure gold) and 18K (75% pure gold).
The price of gold fluctuates daily based on global market trends, demand, and other economic factors. Jewellers typically display the rate for 24K gold per 10 grams. When you buy gold jewelry, the price you pay will be calculated based on the current market rate for the specific purity of the gold, the net weight of the gold, and any additional charges like making charges and GST.
This calculator simplifies the process by allowing you to input the purity percentage, the desired weight in grams, and the current market rate per gram for pure gold. It then calculates the estimated cost of the gold itself, excluding making charges and GST, which are often added separately by jewellers.
Formula Used:
Estimated Gold Cost = (Gold Purity / 24) * Gold Weight (grams) * Current Rate per Gram (₹)
var calculateGoldCost = function() {
var purityInput = document.getElementById("goldPurity");
var weightInput = document.getElementById("goldWeight");
var rateInput = document.getElementById("currentRatePerGram");
var resultDiv = document.getElementById("result");
var purity = parseFloat(purityInput.value);
var weight = parseFloat(weightInput.value);
var rate = parseFloat(rateInput.value);
if (isNaN(purity) || isNaN(weight) || isNaN(rate) || purity < 0 || weight < 0 || rate < 0) {
resultDiv.innerHTML = "Please enter valid positive numbers for all fields.";
return;
}
// Assuming the rate is for pure gold (24K) and we adjust based on the entered purity
// If the user enters "22K" as purity and the rate is per gram of 24K, we need to adjust.
// A common way is to consider the purity percentage directly.
// If rate is per gram of 24K, then rate for 1 gram of Purity% gold is (Purity% / 100) * Rate_24K_per_gram.
// Let's assume the 'Current Rate per Gram (₹)' is for 24K gold.
var rateForPureGoldPerGram = rate; // Rate provided is assumed to be for 24K gold per gram
var purityFraction = purity / 24; // Calculate the fraction of pure gold in the desired purity
var actualGoldValuePerGram = purityFraction * rateForPureGoldPerGram;
var totalCost = weight * actualGoldValuePerGram;
// Displaying the result. If the user inputs 24K and the rate is for 24K, purityFraction will be 1.
// If the user inputs 22K (91.6%) and the rate is for 24K, purityFraction will be ~0.916.
// The formula used in explanation: (Gold Purity / 24) * Gold Weight (grams) * Current Rate per Gram (₹)
// This implies 'Current Rate per Gram' is for 24K.
var calculatedCost = (purity / 24) * weight * rate;
resultDiv.innerHTML = "Estimated Gold Cost: ₹" + calculatedCost.toFixed(2) + "";
};
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