What is the way to calculate gold rate per gram. I want to invest in gold since stock market is volatile rn
The base always comes from the international market. Globally, gold trades in US dollars. To align it with the Indian market, I convert that price into rupees.
But the rate you see at a jewellery store includes a lot more than just the global price. Jewellers add refining costs, import duty, GST, and their own making charges. These charges vary, so two shops may quote slightly different rates for the same design.
To keep it simple, here’s what I usually check:
- Start with the global gold price.
- Convert it to rupees per 10 grams (since Indian prices follow this format).
- Add customs duty and taxes set by the government.
- Factor in the jeweller’s making charges and GST.
Once I apply all these, I get the final price I’ll pay. I always double-check both the international price and the local shop’s daily rate to know whether I’m buying at the right value.