Gold price in India Gold Rate in India has been constant since the start of the year. There is a higher demand for gold jewellery than gold coins and biscuits. South India is the largest consumer of gold. India leads in gold consumption in southern states.

• What is gram, tola, oz, and kilo?
  Gold and most precious metals prices are quoted in troy ounces; however, countries that have adopted the metric system price gold in grams, kilograms and tonnes.
  
  Grams = 0.032151 troy ounces
  Kg = 32.150747 troy ounces
  Tonnes = 32,150,7466 troy ounces
  Tael = 1.203370 troy ounces
  Tola = 0.374878 troy ounce
  

• What is HUID? Hallmark gold jewellery?
  The Government has made it mandatory for all jewellers in 256 districts to hallmark gold jewellery from June 16 in India. We all have a question in mind, what is HUID, why buy hallmarking jewellery? HUID is a unique code that will be given to every piece of jewellery at the time of hallmarking, which will be helpful in identifying the jeweller or the Assaying and Hallmarking Centres (AHCs) which had hallmarked the jewellery. It will be a six-digit alphanumeric code, with which every piece of jewellery will be tagged. The government has made it mandatory for jewellers to hallmark gold jewellery, but with some relaxation.

• Hallmarked gold rate vs normal gold rate
  a) There is no difference in gold prices
  b) You are ensured of purity through hallmarking.
  c) You have to take the precious metal to the essaying centres
  d) Not many essaying centres are available in the market.
  e) Some have advocated a stringent quality practice that has to be established at the testing centres.
  f) Still some way to reach the town and smaller cities.
  g) Focus must be on swift expansion of the essaying centres so the smaller jewellers can make the best use of it.
  

• Why is there a huge rate difference in silver and gold jewellery?
  India has traditionally been a place where people have a great fondness for investing in precious metals such as gold and silver. The silver rate is less compared to gold though both are precious metals. The less supply there is of a metal, the higher the price. Therefore, gold prices tend to be much higher than silver prices because it is much harder to get. The reason supply is much larger for silver is because it is an easier metal to mine and it is often mined as a by-product to other metals. The average occurrence of gold in igneous rock is 0.004 parts per million. Silver shows up at a rate of 0.07 parts per million.

• Making and wastage charges In gold jewellery.
  While buying any gold jewellery you look at the beautiful designs, and how wonderful they would look on you when you wear them. You end up purchasing the ones that win your heart with their intricate motifs or subtle style and also that fits your budget with their prices.
  
  Price of jewellery = gold rate per gram of a particular purity of gold x weight of gold in jewellery + making charge per gram + GST.
  
  Wastage charges: Making charge is the cost of the process involved in producing and designing any piece of gold jewellery that you buy. In simple words, it is the cost of changing raw gold into fine jewellery. Also, gold purity plays an important part in the making charges Making charge is the cost of the process involved in producing and designing any piece of gold jewellery that you buy. In simple words, it is the cost of changing raw gold into fine jewellery. Also, gold purity plays an important part in making changes.
  If gold is stronger and durable, a craftsman makes it into fine designer jewellery, mainly from 22k and 18k gold.

• What is the difference between 22k and 24k and 18k?
  Karat is the term used to measure the purity of gold. To understand more about 22k and 24k it is important to understand what karat stands for.
  Karat is basically a unit used to measure the purity of gold. The higher the karatage, the purest the gold.
  
  24k: 24k gold is also called pure gold and also 100 percent gold. This means that all 24 parts in the gold are all pure gold without traces of any other metals. It is known to be 99.9 percent pure and takes on a distinct bright yellow colour.
  Be aware that some of the people may tell you about 25k or 26k. There is no higher form of gold than 24k gold. Coins and bars are mostly bought of 24K gold purity.
  
  22k: It is 91 percent gold, the other 9 percent consist of other metals like copper.
  Ornaments cannot be done using 24k because it will be hard. To overcome this problem we mix some of the metals which means it will be 22k or 18k.which makes it soft and durable.
  In 22K gold, of the 100 percent, only 91.67 is pure gold. The other 8.33 comprises metals like silver, zinc, nickel, and other alloys. The addition of some other metals makes gold more durable. If you buy gold it is never gonna lose value.
  
  18K: The word 18-karat gold refers to an alloy with a mass of 75% gold and 25% alloy. This form of gold is used in the making of stone-studded jewellery. Other alloys include metals such as Zinc, copper, nickel, etc,.
  18K = 75% Pure = 750
  Ideal for jewellery purposes only.
  Used in making diamond and stone studded jewellery.
  Less expensive than 22K and 24K.
  

• What is the difference between KDM and Hallmark Gold?
  The process of certifying the purity and fineness of gold is called hallmarking.
  Here are the four components one must look at the time of buying gold
  BIS Hallmark: Indicates that its purity is verified in one of its licensed laboratories
  Purity in Karat and fineness (corresponding to given Karatage KT)
  
  22K916 (91.6% Purity)
  18K750 (75% Purity)
  14K585 (58.5% Purity)
  
  Assaying & Hallmarking Centre’s mark
  Jeweller’s unique identification mark
  
  KDM gold is a type of gold alloy where 92 per cent gold and 8 per cent cadmium alloy is mixed. This mixture was used to attain a high standard of purity in gold. Although it didn’t affect the purity, it caused serious health issues for artisans working with it, hence,it is now banned by BIS. Now cadmium is replaced with advanced solder metal such as Zinc and other metals.
  

• Why can’t we make 24K gold jewellery?
  24k gold is pure gold which is very soft ,While 24K gold is brilliant in colour, the jewellery (if made) with 24K gold won't be as durable as 22K gold jewellery. It is because 24K gold is too soft to resist wear and tear.

• How do I calculate KDM charges on gold jewellery?
  Price of gold X (Weight in grams) + Making charges + GST at 3% on (Price of jewellery + making charges)

• What are the things to consider when buying gold?
  *Check the level of purity
  *Get the genuine certificates like hallmark certificate
  *Know the making charges
  *Buybacks – Most jewellers offer the option of buy back, wherein one can exchange their old jewellery set for a new one.
  *Check the weightage of jewellery
  *While generally speaking prices are standardized, there could be some variations. Check gold rates in your city before purchasing
  

• Why do Gold prices differ in each city across India and which city offers the lowest prices?
  Gold rates in Kerala at the moment are the cheapest in terms of 22 karats and 24 karats. In cities of Karnataka too gold is cheaper, as compared to Mumbai or Delhi.
  a) Variation in state & local municipal taxes
  b) Transportation costs
  c) A part of gold, being sold in the market, is brought by individuals- mostly Indians, returning to India. Duty on a part is paid & partly, it is brought without payment of duty. So, it is a bit cheaper in cities, like Bombay & Delhi, which have international airports.
  d) Part of it is smuggled. So it is cheaper in the states, near the border with Pakistan & Nepal.
  e) In big cities, where the volume of trade is high, margins are thinner. In smaller cities, margins are higher.
  f) In cities, where old stock is coming out for sale in the market, prices are a bit lower. This happens in old-timer rich villages, places where old landlords, royalty have old stocks. A part of it regularly comes out to meet their cash needs.
  

• When is the best time to buy gold?
  The best times to buy gold are early January, March and early April, or from mid-June to early July. Since 1975, the gold price has tended to drop the most in March. The daily chart above shows April might offer a slightly lower overall price, but history shows March is the month gold falls the most and is thus one of the best times to buy.

• How do you check for Gold Purity?
  *BIS mark
  *Purity in Karat and fineness;
  * Assaying and Hallmarking Centre's identification mark/number;
  *Jeweller's Identification mark/number
  Here are some of the Hallmarking Centers where you check the purity of your Gold jewellery
  1) Tamilnadu hallmarking centre
  Address: 2nd Floor, 80, NSC Bose Rd, above Bharat Gas, Badri Garden, George Town, Chennai, Tamil Nadu 600079 Phone number: 044 4205 3157
  2) Shree I Hallmarking center
  Address: No.27, Swarna Shree Complex 3rd Floor 302, A/B, Veerappan St, Chennai, Tamil Nadu 600079
  Phone number: 044 4865 5992
  3) Quality Assay & Hallmarking Centre Pvt Ltd
  Address:Door No. 39/26,Third Floor, GR Plaza, Near Mahalingapuram Bridge, T Nagar, Chennai, Tamil Nadu 600017
  Phone: 044 2834 1916
  

• Can you bring Gold from Abroad?
  An Indian passenger who is residing abroad for over one year is allowed to bring the jewellery.
  
  20 grams (Max 50,000) for male passengers duty free.
  40 grams (Max 1,00,000) for female passengers duty free.
  
  1kg max is the upper limit which is allowed and the duty charges are 10.75%.
  
  This info is as per the updated provisions of Indian Customs Baggage Rules 2016.
  

• What to do with my Old jewellery?
  In India, people have attachments with their jewellery, especially when it comes to jewellery of their Mother or grandmother, but there is an expectation when it comes to In-law’s jewelleries. Most of the Indian’s don’t like to sell the jewelleries because they have sentiment with it and many believe that gold never gets old.
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