Fair gold price
The published price is for raw gold only. Jewellers add making charges, hallmarking and tax on top.
Value your gold
Check a jeweller's offer
Enter the piece details and the jeweller's price to see the making charge and whether it's reasonable.
24K investment bars are VAT-exempt. If you were charged VAT on a bar, ask why.
Advanced (tax & making-charge range)
The usual range is an estimate for your country and piece type. You can change it under Advanced.
Sell your used gold
Jewellers buy used gold at the raw price minus a deduction. The making charge you paid isn't refunded.
The rate varies between jewellers. Compare offers and ask to see the weighing.
Before you visit the jeweller
- Check the raw gram price for your karat on the home page before entering the shop.
- Ask for the piece to be weighed in front of you, and make sure stones are not priced as gold.
- Ask for the making charge per gram separately from the gold price, then verify the gap with the checker.
- Confirm the hallmark (karat stamp) and get an invoice showing weight, karat and making charge.
- Small pieces cost more per gram. For saving, bars and coins are cheaper.
- Making charges are usually negotiable, especially above the usual range.
- When you sell, the jeweller pays the raw price minus a deduction and the making charge isn't refunded, so compare offers.
FAQ on making charges and selling
Why is the jeweller's price higher than the published price?
Because the published price is raw gold only. The jeweller adds making charges, hallmarking and a margin, plus VAT where it applies.
What's the difference between the raw price and the price with making charges?
The raw price is the metal's value by weight and karat. The price with making charges adds the cost of making the piece and the shop's margin. When you sell, you get the raw price.
How much is the making charge per gram?
There's no single number. It's lowest on bars and coins, higher on chains and bangles, and highest per gram on rings and earrings because they're small. The checker gives you a fair range for your piece.
How is the making charge worked out?
Making charge = the jeweller's price per gram minus the raw price for that karat (before tax). It covers the jeweller's margin, workshop cost and hallmarking.
How do I know if a jeweller is overcharging?
Enter the piece details and the quoted price in the checker to see straight away whether the charge is fair, high or excessive. If it's oddly low, check the karat and hallmark.
Can I negotiate the making charge?
Usually yes, especially if it's above the usual range for that piece.
How much will I get for used gold?
Usually 90% to 97% of the raw gold value, depending on karat and condition, because the making charge you paid isn't refunded.
What is a gold pound and how is it priced?
The gold pound is an Egyptian coin of 8 grams of 21K gold. Its price = the 21K gram price × 8. Its making charge is low, which makes it popular for saving.
What are making charges and hallmarking?
The price of a gold piece at a jeweller's has three parts: the value of the raw gold (weight × today's gram price for its karat), the making charge for working and designing the piece, and the hallmarking fee for the official purity stamp applied by the assay authority (an Assay Office in the United Kingdom, the Bureau of Indian Standards in India, the government stamping offices in Egypt and the Gulf). On top come the shop's margin and tax where it applies. The price quoted in the news and on this site is the first part only, which is why a piece in a shop always costs more than "the gram price".
How making charges are quoted
Making charges are quoted either per gram (common in Egypt, the Gulf, India and Pakistan) or as a percentage of the gold value (common in India's branded chains and in Western shops). They vary with the type of piece, its weight and the fineness of the work. Typical ranges for ordinary, non-branded pieces:
| Type of piece | Egypt (EGP per gram) | Saudi Arabia and UAE (SAR/AED per gram) | India (share of gold value) |
|---|---|---|---|
| Bars and coins | 40–110 | 15–35 | 2–5% |
| Chains, bangles, sets | 60–150 | 35–70 | 8–15% |
| Rings, earrings, pendants | 90–220 | 60–110 | 12–25% |
| Stone-set pieces | 130–320 | 90–160 | 20% and up |
Very small pieces (under 3 grams) carry a higher charge per gram because the same work is spread over less weight, and international brands charge for the design and the name, often double these figures. Tax differs by country: in Egypt VAT of 14% applies to the making charge only, in Saudi Arabia 15% and in the UAE 5% apply to the full price of jewellery, in the United Kingdom jewellery carries 20% VAT, and in India gold carries 3% GST plus 5% GST on the making charge.
How to check a jeweller's offer in a minute
- Note today's gram price for the karat on this page (it sits above the tools and updates live).
- Ask for the weight of the piece on the shop's scale, and subtract the weight of any stones.
- Multiply the weight by the gram price: that is the value of the raw gold.
- Subtract it from the asking price and divide the remainder by the weight: that is the making charge per gram the jeweller is really asking (hallmarking, margin and tax included).
- Compare it with the usual range for the type of piece in the table. The "check the jeweller's offer" tool above does all of this and tells you whether the offer is fair or high, and how much room there is to negotiate.
What is deducted when you sell scrap gold?
Used gold ("scrap") is bought for the value of the raw metal only, less a deduction: the making charge and hallmarking you paid are not recovered, because the piece will usually be melted. The usual deduction is 3% to 10% of the raw value depending on condition, karat and the buyer; stamped coins and bars lose less (1–3%), stone-set pieces lose more because stones carry no value at the melt and their weight is subtracted. Some buyers also deduct a "melting loss"; ask for the percentage before the piece is weighed. The "sell your gold" tool computes the expected amount at any deduction rate, and your profit or loss against what you paid.
Wholesale districts versus retail chains
In traditional gold districts (the Sagha in Cairo, the gold souks of Riyadh, Jeddah and Dubai, Zaveri Bazaar in Mumbai, Hatton Garden in London) making charges are lower than in malls and branded chains: rents are lower and neighbouring shops compete openly. Wholesalers sell to traders at lower charges but rarely to individuals by the piece. The rule of thumb: the further a piece travels from where it was made, the higher the making charge.
Before you walk into the shop
- Know today's gram price for your karat before you go in, and keep the figure.
- Ask for an itemised invoice: weight, karat, making charge and tax; it is your evidence when you sell later.
- Check the hallmark on the piece and compare the stamped purity with the invoice.
- Negotiate the making charge, not the gold price: the gold price is the same in every shop on the same day.
- If you are buying to save, choose heavier, simpler pieces: lower making charges and a smaller deduction when you sell.
Read also
- Making charges and hallmarks: how they are calculated and how to negotiate themThe making charge is the only negotiable part of a gold price. We explain what it covers, how it is quoted per gram or as a percentage in different markets, what a hallmark is and who strikes it, and how to work out the real making charge in any offer in a minute and negotiate it with numbers.
- Selling scrap gold: what is deducted and why, and how to avoid losing moneyWhen you sell used gold the buyer pays its melt value less a deduction and never refunds the making charge. We explain every deduction one by one, how to compute what you will receive at today's price, when an exchange beats a sale, where to sell, and the mistakes that cost sellers the most.
- How the gold price per gram is calculated from the ounce price, with examples for every karatGold is priced worldwide in dollars per troy ounce, and every gram price in every currency is derived from it by one formula. We walk through it step by step with today's figures for 24K, 22K, 21K, 18K and 14K, and explain why a shop's price differs from the result.
- 24K, 22K, 21K, 18K, 14K and 9K explained: purity, uses and which karat to buyA karat is the share of pure gold in a piece out of 24 parts. We explain what each karat means, why countries favour different karats, how purity drives price, hardness, colour and resale value, and which karat suits saving and which suits wearing.
- The gold pound and the Sovereign: weight, karat, price, and when a coin beats a barThe Egyptian gold pound is 8 grams of 21K, the British Sovereign 7.98 grams of 22K; both are priced by their fine-gold content plus a small premium. We explain how they differ, how they are priced and sold, how they compare with the Krugerrand, the Eagle and the Britannia, and when a coin is the better choice over a bar.
- Zakat on gold and silver: the nisab, the lunar year and worn jewellery, with worked examplesA complete guide to zakat on gold and silver: the conditions, the nisab (85 grams of gold and 595 grams of silver) and its value today, the Hijri year, the schools' views on worn jewellery with the fatwa authorities' positions, mixing karats, combining silver with gold, and examples worked step by step.