GoldmitraAbout our live gold prices
The live gold price used in this calculator is sourced from a real-time market data provider and converted to INR at the current exchange rate. Today's national rate for 24K gold is ₹15,357/gram. Gold's base commodity price is the same nationwide, so this rate applies whether you're in Mumbai, Delhi, Chennai, Hyderabad, or elsewhere — what genuinely varies by location is making charges, which is why the calculator above adjusts its typical-range hint based on your selected state. For more gold prices across India, see Gold Price Live India.
Complete guide
Gold Price Calculator: How to Check the Real Cost of Your Gold Jewellery
Buying gold means paying for more than just the metal. Every piece of jewellery bundles together the gold value, wastage, hallmarking, and GST — so a ₹50,000 gold chain and a ₹50,000 pair of earrings can contain very different amounts of actual gold.
The Goldmitra gold calculator breaks this down for you. Enter the gold weight, pick the karat, add the making charges, and you'll see exactly how much you're being charged for each component — and whether your jeweller is overcharging you.
How the Goldmitra Gold Calculator Works
A gold calculator combines four inputs: weight in grams, the per-gram rate for your chosen karat, making charges, and GST. The output is the final price you should pay.
The formula is simple:
(Weight × Per-gram rate) + Making charges + 3% GST = Final price
The math itself isn't complicated — the reason a calculator is useful is that jewellers rarely lay out this breakdown on a single page, and each component is easy to inflate quietly.
Live Rate vs. Shop Rate: Which One Should You Use?
Most jewellers update their gold rate once a day, usually around market opening time, and the price then holds steady for the rest of the day. That means a quote you get today may differ from the rate on the day you actually buy.
It's also common for jewellers to mark up the base gold rate. For example, if the wholesale 22K rate is ₹9,000 per gram, a shop might quote ₹9,300 per gram — an instant markup of ₹3,000 on a 10-gram purchase. Running the numbers through a calculator before you visit the shop gives you a reference point to negotiate against.
Understanding Karat: Why 24K Costs More Than 22K
Karat measures gold purity. 24K gold is 99.9% pure. 22K is 91.6% pure — the remaining share is alloy metal (usually copper or silver) added for strength, since pure gold is too soft for everyday jewellery.
Common Gold Karats Compared
- 24K — Investment gold: coins and bars. Soft and bright yellow; not used for rings because it bends easily.
- 22K — The Indian jewellery standard. Hallmarked "916" (91.6% pure). Most gold chains, bangles, and necklaces sold in India are 22K.
- 21K — More common in Middle Eastern jewellery than in India.
- 18K — 75% pure. Preferred for diamond and stone-studded jewellery because it's harder and holds settings more securely.
- 14K and 10K — Lighter, more durable, and cheaper. Common abroad, rare in Indian retail.
Since price tracks purity directly, every other karat's rate is a simple multiplier off the 24K price — here's today's live rate for the karats this calculator supports:
| Karat | Purity | Multiplier | Price per gram |
|---|---|---|---|
| 24K | 99.9% | × 0.999 | ₹15,357 |
| 22K | 91.6% | × 0.916 | ₹14,081 |
| 18K | 75.0% | × 0.750 | ₹11,529 |
| 14K | 58.5% | × 0.585 | ₹8,993 |
Making Charges: The Number You Need to Understand
Making charges are the labour cost for crafting the jewellery. The more intricate the design, the higher the making charge — a plain chain or coin carries far lower making charges than an elaborately worked piece.
Many shops also add a "wastage" charge, typically 2–5%, meant to cover metal lost during crafting. This figure is often negotiable, especially on higher-value purchases.
GST on Gold: How the 3% Works
India levies 3% GST on all gold and gold jewellery, split as:
- CGST: 1.5% (Central GST)
- SGST: 1.5% (State GST)
Both are charged on the total bill — gold value plus making charges combined — not on the gold value alone. So if your gold value is ₹1,80,440 and making charges are ₹21,653, GST is calculated on ₹2,02,093, not ₹1,80,440.
This trips up a lot of buyers, who mentally calculate GST on the gold portion only and end up under-budgeting. This calculator shows the GST line separately so there's no surprise at the billing counter.
For inter-state purchases (rare in retail jewellery), the same 3% applies as IGST instead of CGST + SGST. The total payable is identical either way.
Indian Weight Units: Tola, Sovereign, and Why They Still Matter
Most jewellers price in grams today, but two traditional units are still widely used:
- 1 tola = 11.6638 grams — common in North India and among older buyers; sovereign coins are typically sold by the tola.
- 1 pavan (sovereign) = 8 grams — the standard unit in Kerala and Tamil Nadu, especially for wedding gold.
- 1 ratti = 0.182 grams — mainly used for gemstones, occasionally for very small gold weights.
Converting between these units yourself saves you from doing mental math in front of the jeweller when your grandmother quotes a price "per tola" — multiply the tola figure by 11.6638 (or the pavan figure by 8) to get grams before entering it above.
How to Use a Gold Calculator Before You Buy
- Check today's wholesale rate. The live rate above shows this — note the per-gram price for the karat you want.
- Weigh the piece. Trust the jeweller's stated weight if it's hallmarked, but ideally watch it being weighed. BIS-certified shops use transparent scales.
- Enter weight, karat, and making charges. The calculator applies GST automatically and shows the same line items as the final bill: gold value, making charges, GST, and total.
- Compare your number to the jeweller's bill. If it's off by more than 1–2%, ask for an itemised breakdown — discrepancies usually come from inflated making charges or undisclosed wastage.
If you're selling or exchanging old gold, the calculation runs in reverse. The jeweller typically deducts a small "purification loss," then pays the current rate on the remaining weight. Our Karat & Purity Calculator includes an exchange estimator for exactly this.
Common Mistakes to Avoid
- Forgetting GST in your budget. Buyers often walk in expecting ₹1,80,000 to buy ₹1,80,000 worth of gold, but end up with roughly ₹1,70,000 worth once making charges and GST are added. Calculate backwards from your actual budget instead.
- Ignoring the karat on hallmarked jewellery."Gold-coloured" doesn't mean 22K. Always check the hallmark: the BIS mark, the karat number (916 for 22K, 750 for 18K), the jeweller's mark, and the assay centre's mark.
- Treating "discount on making charges" as a real discount. A jeweller offering "20% off making charges" may have started 25% above market rate. Use a calculator to check whether the post-discount making charge is actually lower than what you'd pay elsewhere.
- Not asking about the buyback policy. Buy from a shop that offers buyback at the current market rate minus a small percentage — not the original purchase rate — so you benefit if gold prices rise.