Valentine's Day sees a surge in gold jewellery purchases in India

Planning to gift 22KT gold on Valentine's Day? Check latest gold jewellery rates of Malabar Gold, Joyalukkas, Kalyan Jewellers, Tanishq Major jewellers like Kalyan, Tanishq, Malabar Gold, and Joyalukkas offer competitive prices and special deals, making it essential to compare rates and consider additional charges

With Valentine's Day around the corner, many are considering gold jewellery as a timeless gift for their loved ones. In India, women's love for gold is undeniable, and beyond its beauty, gold is also seen as a hedge against inflation and market volatility, making it a secure investment. According to an Economic Times report on February 6, 2025, gold hit a new lifetime high of Rs 84,894 per 10 grams, marking an almost 10% rise in 2025 so far.

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If you're planning to buy gold jewellery for your partner this Valentine's Day, it's essential to check the latest prices for 24K and 22K gold from big jewellers in India and compare them to make an informed decision. Many big jewellers are running some offers on the occasion of Valentine's Day.

Key charges to consider when buying gold jewelry
Before making a purchase, be aware of the various charges that impact the final cost:
Making charges - Jewelers charge 5% to 25% of the gold price (or a fixed per-gram rate) for designing and crafting.

Also read: Gold jewellery price: Know how cost of your gold jewellery is calculated by jewellers

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Wastage charges (if applicable) - Some jewellers account for gold loss during crafting and charge an additional percentage.
GST (Goods & Services Tax) - A 3% tax is levied on the total price (gold + making charges). There is no GST on the resale/exchange of old gold.
Stone & additional work charges - If the jewellery includes diamonds, gemstones, or intricate designs, extra charges apply.
Hallmarking charges - A fee of Rs 45 per piece plus taxes is applicable for BIS certification, ensuring gold purity.

Let's examine the prices of 22-karat gold of a few famous jewellery brands in India as of February 8 (12pm), 2025. Note that these rates exclude GST and making charges.

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

Kalyan Jewellers
Kalyan Jewellers' latest price for 22K gold jewellery is Rs 7945 as on February 8, 2025.

Tanishq
Tanishq latest price for 22K gold jewellery is Rs 7990 as on February 8, 2025.

Malabar Gold & Diamonds
Malabar Gold & Diamonds latest price for 22K gold jewellery is Rs 7,945 as on February 8, 2025.

Joyalukkas
Joyalukkas latest price for 22K gold jewellery is Rs 7945 as on February 8, 2025.

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

What is Hallmarking on gold jewellery?
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 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.

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.

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