Have you ever asked the question, how do I determine the price of gold when purchasing jewelery? Gold price in Nepal is a daily fluctuating price. Then sometimes you may pay higher when you are not aware of the price.

Now I will demonstrate you on how to find the price of gold in jewelry easily and rightly. This will be presented in a step-by-step format in this guide, including warning signs of the pitfalls, and a bonus general tip.

What is the problem? How To Calculate Gold Price For Jewelry

In Nepal, gold is a product whose price is determined by a lot of factors:

• Weight of gold- this is in grams.
• Karat / purity of gold – 24K, 22K, 18K etc.
• Taxes and market fee by the government -VAT or other charges.

Most individuals make purchases of jewelry mere because they saw the market price and fail to consider how Karat and weight are going to influence the final price. This is the reason why the price is erroneous.

The first step involves determining the weight of the jewelry.

To begin with, determine the number of grams of the jewelry you wish to purchase.

• E.g. your ring weighs = 5 grams.

Hints: It is better to use a measuring scale at home to measure weight.

• The 2nd step is to examine the Karat / Purity of the Gold.

Gold is usually found in 24K, 22K, 18K. The cost is different depending on the Karat.

• Formula:

Gold Price for Jewelry=Weight (g)×Market Price per g×24Karat​

• Example:

Weight: 5 grams
Karat: 22K
Market price: Rs 9000 per gram

Price=5×9000×2422=18,375 rupees

Step 3: Add Taxes and Charges

Purchasing gold in Nepal will be taxed by the VAT and shop fees.

VAT: 13%
Shop Charge 2-3 percent (differing by the merchant)

Example:

• Base Price = 18,375
• VAT = 18,375 × 0.13 = 2,388
• Shop Charge = 18,375 × 0.03 = 551
• Final Price: 18,375 + 2,388 + 551 = 21,314 Rupees

Step 4: Compare Actual Price

Now it is so easy to compare the end price by purchasing jewelry in the market.

• In case the shopkeeper is making money out of it and he is selling it at 22, 000, then you have to pay a bit higher.
• When it is selling it at 21, 000 then it is a good deal.

Bonus Tip: The market price is updated on a daily basis. Use a tool like www.hami3.com
to discover the existing actual price.

Common mistakes

• Not checking the Karat.
• Omitting the VAT and shop fees.
• Using the old market price.
• Not using a digital scale.

These errors may come with unjustified costs.

Step 5: Calculation is easy with the help of the online tool.

And now I will demonstrate it to you, you do not need to calculate everything yourself. The Gold Price Calculator.

All you need to do is:

• Enter the weight
• Select Karat
• Enter the market price

The final price will be displayed automatically in the tool.

CTA: Now visit www.hami3.com
to simply learn how to compute gold price of a jewelry and know the actual price of your jewelry.

Conclusion

It is not difficult to determine how to calculate gold price for jewelry.

• Check the correct weight
• The price is calculated based on Karat.
• Be aware of the VAT and shopping fees.
• Use online tools

That is how you will be able to save and purchase jewelry at the appropriate price.