Calculating the final price of gold jewelry or bullion can be confusing due to various factors like purity, making charges, and taxes. Our Gold Rate Today Per Gram Calculator helps you estimate the precise cost before you visit a jeweler.
How is Gold Price Calculated?
The calculation involves several steps based on the current market spot price:
Purity Adjustment: The market rate is usually quoted for 24K gold (99.9% pure). If you are buying jewelry, it is likely 22K or 18K. The price is adjusted using the formula: (Current 24K Rate ÷ 24) × Your Karat.
Gold Value: This is simply the Adjusted Rate multiplied by the Weight in grams.
Making Charges: Jewelers charge a fee for the labor involved in designing the piece. This is typically a percentage of the gold value (ranging from 8% to 25%).
Taxes: Government taxes (like GST or VAT) are applied to the sum of the gold value and making charges.
Difference Between 24K, 22K, and 18K Gold
24K (99.9%): The purest form of gold, usually available as coins or bars. It is too soft for intricate jewelry.
22K (91.6%): The standard for gold jewelry. It contains 91.6% gold and mixed metals like copper or silver for durability.
18K (75.0%): Contains 75% gold. Commonly used for diamond and stone-studded jewelry as it holds stones more securely.
Using This Calculator
To get the most accurate result, ensure you input the current "Spot Price" or "Board Rate" for 24K gold in your local currency. Adjust the making charges percentage based on the complexity of the jewelry design you intend to purchase.
function calculateGoldPrice() {
// Get input values
var rate24k = parseFloat(document.getElementById('currentRate24k').value);
var weight = parseFloat(document.getElementById('goldWeight').value);
var karat = parseFloat(document.getElementById('purity').value);
var makingPercent = parseFloat(document.getElementById('makingCharges').value);
var taxPercent = parseFloat(document.getElementById('taxRate').value);
var currency = document.getElementById('currencySymbol').value;
// Validation
if (isNaN(rate24k) || rate24k <= 0) {
alert("Please enter a valid current gold rate.");
return;
}
if (isNaN(weight) || weight <= 0) {
alert("Please enter a valid weight in grams.");
return;
}
if (isNaN(makingPercent)) makingPercent = 0;
if (isNaN(taxPercent)) taxPercent = 0;
// Logic
// 1. Calculate rate per gram for the specific karat
// Formula: (24K Rate / 24) * Selected Karat
var purityFactor = karat / 24;
var ratePerGramSelected = rate24k * purityFactor;
// 2. Calculate Gold Value
var goldValue = ratePerGramSelected * weight;
// 3. Calculate Making Charges (on Gold Value)
var makingChargesAmount = goldValue * (makingPercent / 100);
// 4. Subtotal before Tax
var subTotal = goldValue + makingChargesAmount;
// 5. Calculate Tax (on Subtotal)
var taxAmount = subTotal * (taxPercent / 100);
// 6. Total
var totalAmount = subTotal + taxAmount;
// Formatting Helper
function formatMoney(amount) {
return currency + amount.toFixed(2).replace(/\d(?=(\d{3})+\.)/g, '$&,');
}
// Display Results
document.getElementById('purityDisplay').innerText = karat;
document.getElementById('baseRateResult').innerText = formatMoney(ratePerGramSelected);
document.getElementById('goldValueResult').innerText = formatMoney(goldValue);
document.getElementById('makingChargesResult').innerText = formatMoney(makingChargesAmount);
document.getElementById('taxResult').innerText = formatMoney(taxAmount);
document.getElementById('totalPriceResult').innerText = formatMoney(totalAmount);
// Show result section
document.getElementById('resultsSection').style.display = 'block';
}