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For those who wish to purchase gold, it is important to possess a basic understanding of how gold value is calculated. The pricing of gold products (excluding tax) takes into account two things – ‘Gold Value’ and ‘Making Charge’. The ‘Gold Value’ is calculated using a ‘gold rate’ which remains constant at any given moment in time.
In the physical practice of selling gold jewellery and bullion products, a fixed ‘Gold Rate’ is used to calculate the ‘Gold Rate’ within the product price. This ‘Gold Rate’ is dependent on the market value of gold and is usually fixed per product by the jeweller. However, GoldCityMall® uses the live international gold rate to bring transparency in the sale and purchase of gold jewellery and bullion products.
Jewellery and Bullion (any form of raw gold like gold coins, biscuits and bars) are two categories of gold products in which one can invest on GoldCityMall®. GoldCityMall® enables you to purchase these at the live international gold rate.
GoldCityMall® believes in providing a transparent transaction opportunity to customers and jewellers. By pricing products based on the live international gold rate, GoldCityMall® can protect jewellers from the changes in gold rate while providing customers with the best price on their products.
Yes, the live international gold rate can change based on location. This is due to addition of various costs like transportation, import tax, etc.
You can check the live international gold rate on the information tab at the top of your screen. If it is accompanied by a green arrow, it means that today’s live gold rate is higher than yesterdays. However, if it is accompanied by a red arrow, it denotes that the live gold rate is lower than yesterday.
No, GoldCityMall.com ® does not decide the live international gold rates. Gold rates are volatile and subject to change on many external factors like dollar dynamics, supply and demand, geographical location, etc. At GoldCityMall® , we provide you with transparency regarding the gold rate so that you can make your own judgement.
The quantity of gold varies in different purities of gold. Hence, the gold rate also varies in different purities of gold.
