Gold Prices Soar Ahead of Diwali: Expert Tips for Smart Jewellery Purchases
With Diwali around the corner, the tradition of buying gold continues — but this year, the yellow metal has touched record highs. On October 9 afternoon, the spot price of gold stood at around Rs. 1,24,150 per 10 grams, marking a 47% rise since January 2025. Experts advise buyers to make informed decisions rather than impulsive purchases driven by festive sentiment.
1. Understand City-Wise Gold Prices
Gold prices vary across cities due to transportation costs, taxes, and local demand. To avoid overpaying, buyers should refer to reliable sources like the India Bullion and Jewellers Association (IBJA) or reputed financial portals that update prices twice daily. Checking both morning and evening rates can help secure the best deal, says Ankur Daga, CEO of Angara.
2. Verify Purity and Hallmark
Always check the BIS hallmark and the six-digit Hallmark Identification (HUID) code for authenticity. For instance, 22K gold is marked with a ‘916’ stamp, indicating 91.6% purity. The BIS Care app allows instant verification of hallmark details, ensuring the jewellery’s authenticity and purity.
3. Check Making and Wastage Charges
The final price of gold jewellery includes making charges (5–30%) and wastage charges, depending on the craftsmanship. Machine-made jewellery costs less than hand-crafted designs. Experts recommend requesting a detailed price breakup, especially for gemstone-studded ornaments.
4. Stay Alert for Festive Scams
With the festive rush, fake hallmarks and hidden fees are common. Buyers are urged to purchase only from trusted jewellers, verify purity, and demand an invoice. Avoid non-hallmarked jewellery to prevent loss of value.
5. Understand Buy-Back Policies
When selling gold, jewellers deduct making charges and calculate the value based on current market rates. Knowing the buy-back terms beforehand helps avoid surprises later, notes Atul Shinghal, CEO of Scripbox.
6. Gold Saving Schemes
Many jewellers offer installment-based gold schemes that allow customers to plan purchases while enjoying discounts or waived charges. These can be ideal for those preparing for future investments or weddings.
7. Focus on Long-Term Value
Gold remains a strong long-term asset, but resale value depends on purity, certification, and documentation. Keeping all records and opting for BIS-certified jewellery ensures smooth resale at fair rates.
As prices continue to surge amid global tensions and economic uncertainty, experts urge consumers to focus on authenticity, transparency, and long-term value this Diwali.
