UNDERSTANDING GOLD PURCHASE BY REAL TIME EXAMPLE

Today I got an opportunity to make understand the pricing policy of gold when people came to jeweller to buy gold ornaments people have various questions regarding the gold price hall mRk and the labour charges . It can be better understand by the small example

As we know that the rate of gold fluctuates daily it is some times high and low

For example MR Amrish Kumar Choubey wants to purchase a gold set of weight say 25 grams and the gold rate per ten gram is displayed in the showroom say 31000 of pure gold
The ornaments are of 92 percent that is 22 karat ten the rate for 22 karat will be

31000X92/100 = 28520 for 92 percent hallmark jewellery 22 karat

So 1 gram of gold will be of Rs 2852

The labour charges are different on all jewellery suppose we take 480 per gram

Then we will add the labour charges in one gram of gold price that we have calculated above

One gram of gold including labour charges will be

1 gram of gold = 2852
Per gram labour charges= 480

One gram of gold will cost you Rs 2852+480= 3332 Rs

Then he wants to buy 25 gram of gold set so he will pay the price

Rate of gold with labour charges that is 3,332 x 25 grams = 83300 Rs

25 grams of gold with labour charges 22karat will cost him Rs 83300

Same is the procedure for 18 karat 23 karat etc

Note jewellery made in 18 karat order or purchase 1% wastage is added and is applicable

At the time of returning gold [selling] the labour charges are subtracted and you get price for gold only according to the purity of gold

For any queries mail at info@rpppj.com