Gold Making Charges: Buy Gold Jewellery On Valentine's Day! How to Calculate Making Charges, Check Offers

Gold-making charges: This Valentine's Day, jewellers in India will be offering hefty discounts on just gold or diamond jewellery but also on the making charges. From local jewellers to renowned companies like Kalyan Jewellers and Titan-backed Caratlane and Tanishq are offering heavy discounts, making it easier for customers to buy their desired jewels for their loved ones. Making charges is one of the biggest components that is applied to the final buying price of gold. Let's understand how to calculate gold-making charges and some of the popular offers for Valentine's Day.

Valentine's Day offer:

1. Kalyan Jewellers backed Candere has announced about 40% discounts on its making charges for gold chains. This brings the price of jewellery down significantly. For instance, on a Baina Gold chain of 18 carats, the price comes down to Rs 13,820 compared to before discount of Rs 15,421, giving a saving of up to Rs 1,601.

2. Titan-backed Tanishq has announced heavy discounts on its various gold and jewellery-related items from January 14 to March 3, 2025.

On Group A - Gold Studded, Studded UCP, High Value Studded, Platinum Studded, Bi-Metal Studded, Solitaire string, and DT Gold studded, the company is offering a 5% to 25% discount.

On Group B- GIS (Gold Intensive studded), Diamond Treats GIS, Ultra Low Diamond, regular discounts are in the range of 2.5% to 12.5%.

While in Group C, Studded Solitaire, Platinum Bimetal Solitaire & Platinum Solitaire, a 5% to 12% discount is applied. Lastly, in Group D, regular discounts like 10% to 20% are applied on Studded Colour Stone, DT Studded Colour stone jewellery.

The brand is also offering gold exchange discounts as well. However, under its terms and conditions, Tanishq said, making charges, taxes, and any discount given on the original invoice, will be deducted in full.

3. Meanwhile, Titan's other brand CaratLane is offering heavy discounts on making charges apart from normal discounts. For instance, Caratlane is offering 20% off on a Ripple Dazzle Diamond Ring taking its price to Rs 65,021 from Rs 81,276, which includes a 20% discount on making charges. Without a discount, the making charges would be at Rs 10,454, from Rs 8,363.

4. Also, a 38-year-old jewellery company, Joyalukkas has announced up to 18% off on gold and silver-making charge, while 50% is off on diamond-making charges.

5. Additionally, the popular brand Senco Gold is offering 15% to 75% off on making charges on various types of jewellery.

How To Calculate Gold-Making Charges:

Gold-making charges refer to the rates jewellers charge for the processing of gold to turn it into jewellery. These charges are caused because of the labour of the artisan and other overheads in changing raw gold bars into fine ornaments, as per Aditya Birla Capital's website.

Gold making charges are calculated in the following 2 ways as per ClearTax:

1. Cost Per Gram Of Gold: In this case, the price of gold is fixed per gram. Weight of the gold you purchase will be multiplied by the rate to arrive at gold making charges per gram. If you buy 10 g of gold and the seller uses a flat rate of Rs. 500/g to calculate the making charge, then the making charge you will pay is Rs. 10 x 500 = Rs. 5000.

2. Percentage: Here the gold making charge is calculated as a percentage of the total value of the gold you purchase. The higher the percentage, the more will be the charge. Suppose you buy the Gold worth of Rs. 7,00,000. If the jeweller levies 10% as making charges, then making charges you will pay are 10% of Rs. 7,00,000 = Rs. 70,000.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy or sell gold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.