22-karat gold price today is 1.30 lakh rupees; find out the cost of 10 grams of jewelry

In recent days, gold prices have significantly decreased. On the MCX exchange, the price for 10 grams of 24-carat gold is about 1.41 lakh rupees. Today is the festival of Dhanteras, and those planning to purchase gold should pay attention to the advantageous aspects of this purchase.

Most people still prefer to buy physical jewelry, avoiding digital gold. In our country, gold is considered an investment tool. However, many make a mistake when buying gold jewelry for investment, which can subsequently result in a loss.

Although women most often insist on buying jewelry, they are often unaware of potential losses, and jewelers do not always provide them with this information. Jewelers, striving for their own profit, usually advise clients to purchase jewelry specifically.

When purchasing jewelry, buyers must pay three components: the cost of the item itself (depending on weight), the making charge, and VAT (3%). Regardless of whether the payment is made online or offline, the VAT is only 3%.

However, if you are considering buying gold from an investment perspective, it is worth changing your decision. A more profitable option would be to purchase gold coins or gold bars. Coins are available even at a weight of 1 gram, and coins will bring greater returns in the future compared to jewelry.

When you buy jewelry, you have to pay for the making charge, which jewelers usually add at a rate of 15 to 20 percent. For designer jewelry, this fee can reach 25–30 percent. Imagine if you purchase an item worth one lakh rupees, and the making charge alone amounts to 15 to 20 thousand rupees.

Furthermore, if the jewelry has stones set in it, their weight is included in the total weight along with the gold. This means that when selling such jewelry, you will not get back the value of the stones. Only the value of the gold will be considered upon sale or exchange, and the money spent on the making charge will be lost. Thus, by purchasing jewelry, the client is guaranteed to lose 15 to 20 percent.

So what is the solution? If you want to keep gold at home, it is better to buy gold coins, as no making charge is levied when purchasing them; you only need to pay 3% VAT. When selling gold coins or bars, you will receive the full value, unlike jewelry. Why incur losses by buying jewelry then?

If you still decide to buy jewelry, be sure to consider the following points. Jewelers often mislead customers by adding various fees to the bill, and due to lack of information, customers cannot object. They may charge additional amounts under the pretext of polishing or labor costs, which is a violation of the rules. You have every right to refuse such payment and file a complaint against the jeweler.

It is important to know that jewelry is not made from 24-carat gold. Most items available on the market have a purity of 22 or 18 carats. Therefore, when purchasing, you must clarify the current price of gold on the foreign exchange market to acquire the item at a fair price.

The most important thing is to always negotiate the making charge. Many jewelers are willing to reduce this fee after bargaining, as the main profit for jewelers comes precisely from the making charge, which can reach 30 percent.

Always demand an original receipt (Original Price) so that there are no problems in the future regarding the purity and weight of the item upon sale. Regarding purity, you should only buy items with a hallmark.

A significant decline in gold prices is being observed ahead of the festivals of Diwali and Dhanteras, presenting a favorable opportunity for buyers. Previously, such a sharp drop in gold prices immediately before the festivals was not anticipated.

On Friday, a substantial fall in the price of gold on the MCX exchange was recorded; the price decreased by approximately 2.50% to reach the mark of 138,250.00 rupees per 10 grams. This contrasts with January of this year, when the price of 24-carat gold was up to 1.91 lakh rupees. Thus, gold has become cheaper by more than 50 thousand rupees per 10 grams, and on Friday, it had already dropped by more than 4,000 rupees.

For retail buyers and investors, this could be a favorable moment to purchase gold jewelry or investments, given that gold is currently available at lower prices compared to last year. However, considering the current global uncertainty, experts advise against making large lump-sum purchases.

It is recommended to buy gold in installments or through a SIP system to balance the average purchase cost. If it concerns investments, one should focus on the long term—no less than two years, as gold is traditionally considered a hedge against inflation and provides better returns in the long run.

The main factors influencing gold price fluctuations are global circumstances. These include geopolitical tensions worldwide, particularly the conflict between the US and Iran. Furthermore, many major countries are raising interest rates, and the crude oil price remains above $110 per barrel, indicating continued instability in the world economy.

Despite the current difficulties, financial analysts believe that the attractiveness of gold as a reliable investment does not diminish in the long term. They predict that after inflation decreases in America and subsequent interest rate cuts, the luster of gold may return.