22K gold rates today: Buying hallmarked jewellery provides third party assurance and satisfaction that the customer gets the right purity of gold/silver for the given price (value for money)

22K gold rates today: Check gold jewellery rates of Malabar Gold, Joyalukkas, Kalyan Jewellers, Tanishq Let's examine the prices of 22 karat gold of a few famous jewellery brands in India as of November 30, 2024 (12.50 PM IST). Note that these rates exclude GST and making charges

Gold jewellry is a cherished fashion accessory and a valued treasure for Indians. Before investing in gold, you should consider a number of things. There are many factors to take into account before making the decision to invest in gold, including purity, certification, hallmarks, and other factors.

Gold hallmarking charges 2024: How much does it cost to get a gold/silver article hallmarked?

Buying hallmarked jewellery provides third party assurance and satisfaction that the customer gets the right purity of gold/silver for the given price (value for money). In India, gold and silver have been brought under the purview of hallmarking at present.

Let's examine the prices of 22 karat gold of a few famous jewellery brands in India as of November 30, 2024 (12.50 PM IST). Note that these rates exclude GST and making charges.

Check gold jewellery rates of Malabar Gold, Joyalukkas, Kalyan Jewellers, Tanishq

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Kalyan Jewellers
Kalyan Jewellers' latest price for 22K gold jewellery is Rs 7,150 as on November 30, 2024.

Tanishq
Tanishq Jewellers' latest price for 22K gold jewellery is Rs 7,240 as on November 30, 2024.

Malabar Gold
Malabar Gold Jewelles' latest price for 22K gold jewellery is Rs 7,150 as on November 30, 2024.

Joyallukas
Joyallukas Jewellers' latest price for 22K gold jewellery is Rs 7,150 as on November 30, 2024.

How is gold jewellery price calculated?

Here is the formula used by jewellers to calculate the final price of gold jewellery:
Final price of the jewellery = {Price of gold X (Weight in grams)} + Making charges + GST at 3%+ Hallmarking charges

Important FAQs to note, according to the website of the Bureau of Indian Standards.

What is Hallmarking?
Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in precious metal articles. Hallmarks are, thus, official marks used in India as a guarantee of purity or fineness of precious metal articles.

What is HUID in the hallmarked gold jewellery?
HUID is a Hallmark Unique Identification (HUID) number and it is one of the components of a hallmark. It is a six-digit alphanumeric number which is unique for each hallmarked item and is traceable. Customers can also verify the HUID number in the BIS Care App using the ‘Verify HUID’ feature.

What does a hallmark on gold jewellery consist of?
Since the introduction of HUID (i.e. 1st July 2021), a hallmark consists of 3 marks viz, BIS logo, purity of the article in caratage and fineness and six-digit alphanumeric HUID number.

This story originally appeared on: India Times - Author:Faqs of Insurances