Frequently Asked Questions
Authoritative answers on Indore precious metal rates, hallmark purity standards, and retail buying guidelines.
Gold & Silver Rates FAQ
Frequently asked questions about Indore Sarafa Bazaar precious metal rates.
Common questions regarding Indore gold purity, buying guide & Sarafa Bazaar benchmark rates
Gold rates in Indore are established by the Sarafa Association based on international bullion spot rates, currency exchange rates (USD/INR), import customs duties, and local supply-demand dynamics in Madhya Pradesh.
24K gold is 99.9% pure gold and is ideal for investment bars and coins, but too soft for intricate jewelry. 22K (916 gold) contains 91.6% pure gold alloyed with copper/zinc/silver to give jewelry strength and durability.
Under Indian tax laws, a uniform Goods and Services Tax (GST) of 3% is levied on the total value of precious metals (gold value plus making charges). Making charges may also attract 5% GST if billed separately.
BIS Hallmarking certifies the purity of gold. Since 2021, all gold jewelry sold in Indore and across India must bear a 6-digit alphanumeric HUID (Hallmark Unique Identification) code verifying authenticity.