Today's Gold Rate/Price in Shivpuri

FAQs on Gold Rate in Shivpuri

1. Will jewellers in Shivpuri buy back old gold?

   Yes, most jewellers in Shivpuri buy back old gold, but they may deduct charges for testing, melting, and refining. The buyback rate is usually based on the current gold rate minus a margin. Always get multiple quotes before selling.

2. What is making charge for gold jewellery in Shivpuri?

   Making charges in Shivpuri typically range from 8% to 35% of the gold value, depending on the type and intricacy of the jewellery. Machine-made jewellery has lower making charges compared to handcrafted pieces. These charges are not refundable when you sell back the jewellery.

3. What is wastage charge in gold jewellery in Shivpuri?

   Wastage charges (also called melting charges or kadhai charges) are levied by jewellers in Shivpuri to account for the loss of gold during the jewellery-making process. This is charged as a percentage of the gold weight (typically 2–5%) and adds to the overall cost.

4. How do I calculate the actual cost of a gold ornament in Shivpuri?

   Total cost = (Gold weight × Current gold rate) + Making charges + Wastage charges + 3% GST on gold value + 5% GST on making charges.

5. What is the purity of gold coins sold in Shivpuri?

   Gold coins sold at banks and authorised dealers in Shivpuri are typically 24K (99.9% pure) or 22K (91.6% pure), and come with BIS hallmark certification and tamper-proof packaging. MMTC-PAMP gold coins are among the most trusted options.

6. What is the difference between gold coins, biscuits, and bars in Shivpuri?

   Gold coins are small denominations (1–50 grams), gold biscuits are mid-size (50–100 grams), and gold bars are large (100 grams and above). All are available in Shivpuri and are priced based on their weight and the current 24K rate. Coins and biscuits have slightly higher premiums over the spot price.

7. Which banks sell gold coins in Shivpuri?

   Major banks selling gold coins in Shivpuri include SBI, HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda, and Punjab National Bank, among others.

8. Can I store gold in a bank locker in Shivpuri?

   Yes, you can rent a bank locker in Shivpuri to store physical gold. Annual locker charges vary by bank and locker size. Note that the bank is not liable for the contents of the locker, so it is advisable to take a separate insurance policy for your gold.

9. Should I insure my physical gold in Shivpuri?

   Yes, it is strongly advisable to insure physical gold stored at home or in a bank locker in Shivpuri. Several general insurance companies offer gold/jewellery insurance policies that cover theft, burglary, and accidental damage at low annual premiums.

10. What is the import duty on gold in India and how does it affect prices in Shivpuri?

    The current import duty on gold in India is 15% (comprising basic customs duty and agriculture infrastructure development cess). This makes India one of the highest-taxing countries for gold imports, directly contributing to the premium of domestic gold prices in Shivpuri over international spot prices.