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Calculating The Accurate Gold Jewellery Price - Jewellery Blog

# Calculating The Accurate Gold Jewellery Price

Have you ever found yourself being curious to find out the exact making charge or the accurate value of the gold jewellery you just purchased from the Jeweller of your choice?

More often than not, we find ourselves scratching our heads, unable to confirm if the making charge percentage of what the Jeweller states is actually true or not. To address this hurdle, we build the Jewellery Price Calculator.

With this free online tool, you are empowered with the ability to check either the total price or making charge effortlessly and flawlessly. ## How to use Jewellery Price Calculator

• Go to Jewellery Price Calculator in GoldZouq
• Choose either the Total Price Calculator or the Making Charge Calculator. (You can either confirm the total price with the given making charge percentage or confirm the making charge percentage with the given Total Jewellery Price.)
• Fill in the Day’s Gold Rate, Jewellery Weight, Stone Price and weight (If any) and either the making charge in the total price calculator or the total price in the making charge calculator. And finally, hit submit.

So there you have it, you will get either percentage of the Making charge applied or confirm the total price of the jewellery as hassle-free as possible.

Click the button below to use Jewellery Price Calculator

## Formula for finding total price of gold jewellery ?

Prerequisites

1 gram Gold rate, Gross weight of the ornament, Stone weight of the ornament, Stone rate of the ornament, Making Charge & GST.

Formula

Gold jewellery/ornament with stone

((Gross Weight – Stone Weight) * 1 gram Gold rate) + Making Charge % of ((Gross Weight – Stone Weight) * 1 gram Gold rate) + 3% GST of total price = Total Price

Let’s see an example: Gold Ring

1 gram Gold rate: 5260/- (04/10/2023)

Gross weight of the ornament: 3.310

Stone weight of the ornament: 0.720

Stone rate of the ornament: 250

Making Charge: 10%

Step 1

(Gross Weight – Stone Weight) * 1 gram Gold rate = A

3.310 – 0.720 = 2.590
2.590 * 5,260 = 13,623

A = 13,623

Step 2

A + Making Charge% of  A = B

13,623 + 10 % of 13,623 = 14,985

B = 14,985

Step 3

B + Stone Rate = C

14,985 + 250 = 15,235

C = 15,235

Step 4

C + 3%(GST) of B = Total price

15,235 + 3% of 15,235 = 15,692

Total Price = 15,692/-

Formula

Gold jewellery/ornament without stone

(Gross Weight * 1 gram Gold rate) + Making Charge % of (Gross Weight * 1 gram Gold rate) + 3% GST of total price = Total Price

Let’s see an example: Gold Ring without stone

1 gram Gold rate: 5260/- (04/10/2023)

Gross weight of the ornament: 2.80

Making Charge: 8%

Step 1

Gross Weight * 1 gram Gold rate = A

2.80 * 5260 = 14,728

14,728 = A

Step 2

A + 10% of A = B

14,728 + 1178.24 = 15,906.24

15,906.24 = B

Step 3

B + 3%GST  = Total price

15,906.24 + 477.1872 = 16,383.42

16,383.42 /- = Total Price

## Formula for finding making charges of gold jewellery ?

Now let’s find making charges using the prerequisites given below.

Prerequisites

1 gram Gold rate, Gross weight of the ornament, Stone weight of the ornament, Stone rate of the ornament, Total price including GST.

Formula

Gold jewellery/ornament with stone

( (Total Price – GST%) – Stone Rate ) – ((Gross Weight – Stone Weight) * 1 Gram Gold Rate ) = Making Charge

Let’s see an example : Gold Ring with stone

1 gram Gold rate: 5260/- (04/10/2023)

Gross weight of the ornament: 3.310

Stone weight of the ornament: 0.720

Stone rate of the ornament: 250

Total Price(including GST):  15,692

Step 1

Subtract GST from total price

Total Price * (100/103)

15,692 * (100/103) = 15,235

15,235 – Stone Rate = A

15,235 – 250 = 14,985

14,985 = A

Step 2

Gross Weight – Stone Weight

3.310 – 0.720 = 2.590

2.590 * 1 gram gold rate = B

2.590 * 5260 = 13,623

13,623 = B

Step 3

A – B = Making Charge

14,985 – 13,623 = 1362

1362 = Making Charge

Final Step

(Making Charge/B) *100 = Making Charge%

(1362/13623) * 100 = 10%

Making Charge = 10%

Formula

Gold jewellery/ornament without stone

( Total Price – GST% ) – ( Gross Weight * 1 Gram Gold Rate ) = Making Charge

Let’s see an example : Gold Ring without stone

1 gram Gold rate: 5260/- (04/10/2023)

Gross weight of the ornament: 2.80

Total Price(including GST):  16,383.42

Step 1

Subtract GST from total price

Total Price * (100/103)

16,383.42 * (100/103) = 15,906.23

A = 15,906.23

Step 2

Gross Weight * 1 Gram Gold Rate

2.80 * 5260 = 14,728

B = 14,728

Step 3

A – B = Making Charge

15,906.23 – 14,728 = 1178.23

Final Step

(Making Charge/B) *100 = Making Charge%

(1178.23/14,728) * 100 = 8%

Making Charge = 8%