Gold, silver and jewellery, explained.

Purity

Karats and fineness

Gold purity is given in karats (K) out of 24, or as fineness in parts per thousand.

• 24K = 999: the purest gold sold, used for coins and bars.
• 22K = 916: the usual standard for Indian jewellery.
• 18K = 750 and 14K = 585: harder alloys that hold stones well.
• The price follows the gold content, so 22K costs 22/24 of the 24K rate.

Hallmark

Hallmarks and HUID

Hallmarked gold jewellery in India carries a BIS mark that you can check yourself.

• Look for the BIS logo, the purity grade (for example 22K916) and a six-character HUID code.
• Every hallmarked piece has its own HUID.
• Enter the HUID in the government's BIS CARE app to see the purity and the piece type on record.

Pricing

How a jewellery price is built

A quote for jewellery has three parts.

• Metal value: weight × the day's rate for that purity.
• Making charges: a fixed amount or a percentage, depending on the design and work.
• 3% GST on the metal value and making charges.
• Stones and diamonds are priced separately on their own merits.

Silver

Silver grades

Silver is graded by fineness, like gold.

• 999 fine silver is used for bars and coins.
• 925 sterling is used for jewellery, utensils and articles.
• Silver is quoted per kilogram; small pieces carry higher making charges per gram.

Weights

Gram, sovereign, tola and ounce

Bullion and jewellery use a few traditional weights alongside the gram.

• 1 sovereign (pavan) = 8 grams.
• 1 tola = 11.6638 grams.
• 1 troy ounce, the international bullion unit, = 31.1035 grams.
• 1 kilogram = 1,000 grams, the usual unit for silver bars.

Rates

How we publish our rates

We publish a reference rate twice on working days.

• A morning rate and an evening rate, each with the time it went live.
• One rate for 24K gold and one for 999 silver; every other purity is worked out from them.
• The same reference rate applies to every city page on this site.

Buying

Coins, bars or jewellery?

Each form suits a different purpose.

• Coins and bars are 24K or 999 and carry low making charges, so most of what you pay is metal.
• Jewellery is usually 22K and carries making charges for the craft that goes into it.
• Keep the invoice for every purchase; it records weight, purity and price.

Safety

Before you pay

A few checks protect every purchase.

• Confirm the weight, purity and final price in writing before paying.
• Pay only into the bank accounts listed on our Bank Details page.
• Ask for a GST invoice and, for gold jewellery, check the HUID.