Guide updated 6 October 2026. A gold-rate headline is not a complete jewellery quote. Before comparing prices, match the date, purity, weight unit and charges included. This guide explains the checks; it does not provide a continuously updated price or predict where gold will move next.
1. Start with a dated rate and the right unit
The India Bullion and Jewellers Association rate page publishes opening (AM) and closing (PM) rates for different purities, including 999, 995, 916, 750 and 585. Its main gold-rate table is quoted per 10 grams and excludes GST and making charges. Some prominent figures on the same page are labelled per gram, so read the unit beside the number you use.
Record four things before comparing that benchmark with a shop’s quote:
- Date and session: note the published date and whether you selected AM or PM. Do not label the last available working-day rate as a new rate for today.
- Purity: compare like with like. Ask the jeweller to put both carat and fineness on the quote.
- Unit: convert a per-10-gram figure to a per-gram figure by dividing by ten.
- Scope: identify whether the figure covers only metal or includes making charges, stones and tax.
A difference from the benchmark is a reason to ask for an explanation of the shop’s price, not enough on its own to conclude that a bill is wrong.
2. Ask for an itemised quote
The Bureau of Indian Standards consumer FAQ says a bill for hallmarked precious-metal articles should identify the article, net precious-metal weight, purity in carat and fineness, and hallmarking charges. Retain the invoice for any later dispute or complaint.
Before paying, ask the seller to separate these items:
| Item to compare | Question to ask |
|---|---|
| Gold weight and rate | What net gold weight is being charged, and at what rate for this purity? |
| Stones or other components | Are these weighed and priced separately from the gold? |
| Making or wastage charges | Is the charge a fixed amount, per gram or a percentage? What is the calculation base? |
| Hallmarking and other fees | Which fees are included in the total? |
| Tax and final price | What tax is charged on each relevant component, and what is the final payable amount? |
| Exchange or buyback terms | What deductions and conditions would apply later? Can I have them in writing? |
3. Compare the full amount, not just the advertised rate
Illustrative calculation only — these are invented numbers for arithmetic, not current market prices or real shop quotes. Suppose two quotes cover the same 5-gram net gold weight, purity and design, with no stones:
| Example quote | Metal value | Making charge | Subtotal before other charges and tax |
|---|---|---|---|
| Shop A: ₹10,000 per gram | ₹50,000 | ₹5,000 | ₹55,000 |
| Shop B: ₹10,100 per gram | ₹50,500 | ₹3,000 | ₹53,500 |
Shop B has the higher gold rate but the lower subtotal by ₹1,500. You still need both final invoices to compare tax and all other charges. If the weight, purity or design differs, this is no longer a like-for-like comparison.
For a rate quoted per 10 grams, the metal calculation is: (rate ÷ 10) × net gold weight in grams. Use the seller’s rate for the agreed purity; do not apply a purity adjustment a second time to a rate already quoted for that purity.
4. Check the hallmark and HUID
Use the “Verify HUID” feature in the official BIS Care app to check a hallmarked article’s HUID. Obtain the app through the links on the BIS website and compare its returned details with the item being offered.
If the code is unreadable, no result appears or the details do not match, pause the purchase and ask the seller to resolve the discrepancy. A connection error is not evidence either for or against authenticity. A successful hallmark lookup also does not tell you whether the making charge is competitive or whether the purchase suits your budget.
5. Save the comparison before deciding
Keep each written quote with its date, validity period and final payable amount. Set a spending limit before visiting the shop; if you need help fitting a large purchase around regular expenses, use our monthly budgeting guide.
Correction, 6 October 2026: this page previously used “Gold Price Today” and “record high” language without a dated price series. Those claims, unsourced forecasts and investment-product recommendations have been removed. The existing URL is retained, but the article now explains how to verify a quote.
