In India, 22K gold is considered the most valuable for jewelries and hence it has more resale value as well. It’s probably not too bad, given that you need money urgently. I bought 10g of 916 gold chain on 8 mar 14 , on that day gold price was around 30600 for 24kt . Waste rock is the rock that is excavated to reach the ore. Now, if it’s not 916 hallmarked jewelery, you may have to take it to another jeweler and check its purity on his machine before taking on your jeweler. [2540*60]=1,52,400 INR inclusive of all taxes. I have one more doubt, when i was searching information on value addition part last night i read a number of blogs mentioning that if anyone pay more then 10% of gold value as making charge then, he is paying more.please read the article at. Very informative. Jeweller add polish by wt saying varying from 5% to 20% which does not increase weight the ornament but charge the buyers wt of polish by the prevailing gold rate. I figured this out while selling some old gold jewellery recently. Caratlane sells 995 gold while banks, Bangalore refineries etc sell 999 purity. Multiply by the fineness of the gold. Further, they are easier to sell anywhere and get a good price. The wastage charges typically vary from 10% to 18% in most shops while it’s quite possible to have it as high as 20% or 24% or even as low as 8%. As a learning I have decreed at home thst going forward we are not getting any gold item made in India full stop. I would think it makes sense to go for 22k (916) and reduce the number/weight of jewelery to be purchased than going for 18k. 2. Cost== 2000 Please suggest. Cost per grm =2850 per gm Yesterday I went to grt jewellery shop. You will be ripped off. Well, I was equally puzzled by all those terminologies and promises that you get to hear in Jewellery shop commercials until I decided to dig out some information. You should have got at least 2000 rupees for your 0.75g earring. Also how about buying gold through online like caratlane.com ? Is it correct price or not? 33500 at today’s market rate. We have to go with what the jeweler claims in this regard. But if you must buy gold jewellery for a wedding or gifting purposes and high prices are a deterrent—gold is around 30,000 per 10g currently—there are ways through which you can cut costs. ETF price movements are very close to the gold market rates and hence no loss of money. Sometime if the BIS mark details are worn out on the jewelry OR if the jewelry piece is too small to print/read the etched marks, the bill is handy. No, Kalyan jewellers is the worst. Did you mean you wanted to buy 916 jewelery with bill? In all other cases, please be responsible and save the country by not buying and storing a lot of gold in physical form. The SA claimed the VA was 10.5% conveniently ignoring the fact that the Diamond did not carry any making charges. I told the jeweller to put a hall mark on it. VA: 1940 I hope the looting by major Jewelers stop in the near future. i bought a gold neckpiece where there is a stamp 23 carat 85 He told me that u don’t take hallmarked gold. what’s wastage charge? or was it 350+80 in total per gram and no further component (wastage etc)? So the best thing is to compare the rates and VA (making charges + taxes etc) in both Bangalore and Singapore for the SAME Karat rating and take a decision. I also did some purchases in the past from Gold links, Alice etc but wasn’t quite happy. and i purchased new gold on which he levied rate of Rs. hi friends You are talking one sided only . Calculate amount of gold against weight and karats such as (24K, 22K, 21K, 18K & etc.). 91.6% of pure gold from you and give you 80% of pure gold.BUT 22/20K jewellery does not comes with BIS hallmark, so if you have great belief in the jeweler only then purchase it. If your gold is not 916, then they usually reduce the way they want. 4. Kesava, Thank you Ajith Prasad .. you are a saviour from cheater jewellers. However, the buy price of 2800 per gram is not good. 27480) for 22 carat, in Gold market? In particul… But here all the people are saying they are providing kerala gold. Therefore the 22k gold coins and products stamped with 916 seals. To my surprise 80% of them were varying from Karat 19.5 to 22 while they claimed to be pure 22k. Reputed “kamal jwellers p ltd “of dehradun. I want purchase one neck chain for 25 grm today. The jeweller is known to me and says that he has given me a good bargain.. i have purchase the ear rings from Khazana showroom. http://www.bis.org.in/dir/hq.htm. The guy at the store said he would give Rs.65780/- for 28.723 grams of 20k gold. No idea Nasir. Simply use a scale to measure the mass of the solute and the final solution and express the ratio as a percentage. (This is my version, I would like to know what the jeweler think). Two different jewelers charging vastly varying making charges for the same type of jewelery. What should I do? You should start a forum, that would be great. 50% people charge 10-12% wastage, some do not. basic funda is jewellers sell u 22k gold ornaments and they take 24k rate from u and when u return that jeweller that type they will give 22 k price. i had purchase a kdm gold chain 5 Year back and when now i am sellig it in same shop then he deduct 15 % wt of totol gold and giving the price. Hi Shankar… Example – On 23/12/2016 price of 24 carat gold was Rs.28855.61 per 10 gram in Mumbai, but price of 22 carat gold was Rs 26980 instead of 26431.73 ( 28855.61 * 91.6?). Then old gold 18.300, 38.500 – 18.300 = 20.200(cost for ne)*2740(per gram cost) =?55,350 Coimbatore branch. When I saw machine made bangles, it looks like artificial bangles.thinking whether to buy in bangalore or here.. he opined that it was hard for a system to trace 23 carat and that i could check at tanishq… such was his dubious assurance…. Even if you add 15% VA, (Rs. 6,00,563. Now the only issue is that, when you exchange this gold again, you will lose some more money because it’s short of 916. if gold rate is 25000 per 10 gm Adjust the sliders to reflect waste diversion strategies and goals. & They r is a big shop who r taking 1950rs per gram. Bijulal, had u listened to the metals section of ur chemistry classes in higher secondary, theyw ould have taught u this. Have you ever checked shirt you bought they are just local made with international tag? However, even when the jewelry is pure 22kt but not hallmarked, jewelers deduct some money for no reason. You can pay or show them BIS rate maximum. Myself jyothi today I went to tanishq to take new necklace and gave my old necklace 26.5 gram by which I got 75,000 today’s gold rate was 2,884.9. I bought a 29.488g kada for Rs.85,500/- with the wastage/making @12% Is it possible to loose 4 gms while melting? Hi ajit PNG in Pune was quoting Rs.27700/- on 24th Aug. for 22k jewellry whereas the rate as per websites on that day was Rs.26700. After all, 916 is the most popular formulation in India. the merchant logo All my golds are 22 carat. i have one quetion some seller apply making charges + rodium charges extra is it right please keep aware for this, Hi Ajith, An eye opener info very crisp. (That too you are buying gold on with ever fluctuating figures!) The making charges (‘Panikkooli’ for Malayali friends) is the cost of converting raw gold into jewellery. Really really helpful. Now, when you buy new 916 gold for 12 grams, the base price is again 33,600. And that 77% should me multipled by 24k gold price. I want to know how much these quotes are genuine and what would be the correct price point to bargain. If you get real 24ct gold for the same price, it won’t be a bad deal but I am not sure what happens when you sell it. Is Cicely Tyson related to Whitney Houston? Huh!! Should I complaint against him or wat should I do. I gave a gold ring 22k to made a new ring, and the jeweller told me to but 20-30% as batta. Your article seems to be quite an eye opener. suppose for 10 gms the jewellery shop may charge 1gms of amount of wastage may be more… How to eradicate this system is there is a way plz send…. have to keep huge stock of every type of On receipts , wastage cost is not mentioned at all. What is the contribution of Isaac Akioye and is Achievements? Please note that your REAL saving comes from the wastage charge negotiation. Would you pay the profit separately? Thanks Sandy. How do you verify the weight of a gold and stones or diamond seperately? 5. the total making charges plus wastage roughly works out Rs 3100-Rs3150/- per 8 grams which is still more than the rate for pure gold of 24 karat. Coming back to your purchase, I guess 13% is not really too much but then 11 or 12 would have been better. Rajesh, It makes sense to compare between stores and negotiate. 30K) is not equivalent to 91.6? Yesterday i went to kalyan jewellers for a kada. Did you know what you are saying ? Because the density of water at 4 degrees Celsius is 1,000 kg/m3, that ratio is easy to find. In Bangalore, I have shopped mainly in Malayalee shops like Bhima, Chemmanur, Chettupuzha Alice etc and I had good experience with most of them. Hello sir Let me tell u first in Jaipur (and i think in all cities) every day at 11:00 hrs the rate of 22K and 24K gold get opens and these rates are applicable for the whole remaining day and for next day before 11:00 am in all jewellery shops of Jaipur. Since pure gold is too soft (and hence would easily bend) to make any jewellery out of it, there has to be certain other metals such as copper, silver, cadmium etc added to make it strong, shine and with the desired shade. Where are you based ? Diamond Ear ring Gold: 1.764gm X 2058= 3630 if yes, you can complain at the consumer helpline 1800-180-4566. 10K for 3.5gms of gold (provided it’s 22k) sounds like a very good deal. Pavithra, no idea Read my other comments – for intricate designs, it an be even 20 or 25% while normal designs, it’s ideal to have the VA between 5 and 15%. [(2540+340)*20]=57,600 INR inclusive all taxes. Their will be item weight. In addition, if your jewellery has any precious stones, that cost will be added up as well. Seems to me that the wastage is on quite an high end (more than 20%) since I had noticed that jewellers like GRT have charged 15% to 18% wastage on antique jewellery sets. This is usually the best buy for investments, however, 24 carrot gold cannot be used to make jewellery immediately as it’s very soft. Every time we get the ornaments/ coins tested by the equipment in the shop for the purity of gold. i.e. Hi that too, openly declaring on their receipts??? Hence, the charges differ accordingly. Hello sir, I never ever bought the gold itself. that comes to a minimum 50 lakhs then How come few of the jewellers (Lalitha) are able to provide designs of the same type for wastage less than 8%. So I say if you are TOO concerned, the simple solution is PLEASE CHOOSE TO BE AWAY FROM GOLD buying! Old chain weight=10.610 I never buy gold cause this whole process just beyond my comprehension and mind it I Software Developer, so we are suppose to be smart people. if you use cadmium while making gold ornaments, inhaling cadmium vapors for 30 minutes will lead you to death. But i have one question. Hence, I cannot comment whether it’s a good or bad deal. I wish to purchase gold for Bengal.what can i do? Other than weight what will be present on tag.. like making charges will present on each item in the form of code..? Hence your answer needs some rethinking. I want to know that what other things needs to be taken in care apart from your article things. 916 is 22k hallmarked. I bought all the jewellery in Joy alukkas. Let us al write to PM and FM to bring in rule to curb this loot soon. The price for 22k was Rs.2563/- I had 38.5grams of 20k gold for exchange. Preetha, Finally, I got around 69 grams of 916 BIS marked – new fashion jewelery for my wife – and I didn’t have to pay anything from my pocket (in terms of taxes/making charge/wastage etc all that was calculated in the 13 gms I lost). I can`t able to compromise, i fight with the jeweller as WHY I WANT TO PAY FOR WASTAGE , WHAT I AM NOT GETTING???. They have charged 22% extra , when asked they said it includes labor charge and wastage and everything. Which is the best shop. You see bow a days a lot of diamond jewellery is bening manufactured using high tech Cad/Cam casting machines where there is really zero percent gold wastage loss, Good luck. However, since I haven’t done any shopping recently, I cannot really recommend any. Hallmarking licensee or center’s emblem or name Or, Why is a bill so important when the merchant charges exorbitantly for it? 3. and one piece was broken its being just 6months can I ask them to exchange full necklace with out deducting value added amount..? But i dont understand 450 rps for what.it is extra.i know because i am jeweller doing this bussiness for more then 20 years, sir iam sravanthi i bought 6.45 grms @ 2550 /gram with small cz stones/200 mlgrms they told 19000 on cash he was reliable or else. 25000 *3%= 750 rs profit after doing 25000 rs sale. Thanks for pitching in with the Jeweler’s view on this topic – it’s a very valuable for all readers here. yesterday’s gold rate was aed 147.50 n gold weight was 3.240 gram…n they charged me 560 dhs dat means 82 dhs extra as making charge or any other charges related to that.can you please let me know whether they cheated me in calculation or not. I have very minimal experience in buying gold from the US or reading about the same for that matter. For example, if you want to find 60% of 285, enter 285 x .6 into your calculator to get 171. january last i will buy 40 gm gold chain.please tell me how much your cost.Qr. Owner sett led to 38800/- whereas i was emphasizing that when the tag mentions 16% why he is charging 20%( 10%+10% for wastage & making) Yesterday I purchased ear tops for my little daughter. 15.43 grains (gr) = 1 gram (gm) 5. There are also other jewellers who charge 20 or 25% as VA depending on how complicated is the design. Unfortunately, nobody knows why certain ornaments has to have more wastage than some others as claimed by the jeweller. and pitfalls to avoid while buying Gold. and where I complaint againt him. the assaying centre logo Thanks again. Some smart jeweler might offer you 100% exchange rate instead of deducting Rs. I already putting to make necklace of 15 grams in 24 carat in belgaum jewellary shop. Purchase rate for us was higher than what they are giving in exchange of our jewellery. earn bank interest also. Hello Ajith, this is really a useful article for the Gold Buyers. If something is broken in such a short time and if you bought it from a reputed jeweller they should fix it for free. You can see that there’s a difference of 15% there. One important point you need to remember gold price which you see online is of 24 K pure gold and for gold ornaments 22 K gold is used. There is no wastage or making charges on gold jewellery all jewellers make public fool buy jewellery rate to rate. Is that true ?? 2794, for KDM rate would be Rs. So What would be best sell price for 916 and then non-916 gold ornaments. At the rate of100% of the crruent price Why 24 carat Gold rate (suppose Rs. In fact, I had bought some minor stuff some four-five years ago, though, I don’t recall what I had paid as VA. Since the gold price shot up to all-time high price yesterday at 3099/gm for 22k gold, the jewelers must be having low business and hence increasing value addition charges. the costlier part) a separate certificate (usually a plastic card like CC) will be provided on which the precious stone details (karat, clarity – color codes etc) are printed. How they define..? , Value Addition, it’s mentioned in the post, Yes it’s true & I know all this things but there are no option because people not so little about that & if I have knowledge & raise my voice nobody supports me there are no govt restriction on gold jewellery because of this there are problem. The old gold was not bought fromsame jeweler and was probably around 20 Karat. And when you exchange the above for jewelery, obviously you are going to lose some money towards making charges etc. In the name of ‘ Making Charge’ i have been looted by Malabar’s salesmen, he has charged 3 BD (510 rs/ Gram) Naveen, Please tell me how much i pay them and what is the wastage and return price. Thanks. Gold Jewellery Buying Tips: Wastage Charges, Making Charges, VA, Karat, 916 and more…, 10 Yesteryear Indian Brands that I am emotionally attached to, First, if you are exchanging gold (selling old ornaments and buying new) make sure that you are getting the full price of what you are selling. and then u decide, did jeweler really cheated me on making charges or it is normal to have 13% to 16% making charges? anyone can advise me please?? I am from coimbatore. For example, if you type the formula =10/100 in cell A2, Excel will display the result as 0.1 . Thank you so much for writing this article for the public awareness. I, frankly, do not know when stones and intricate designs are involved. Design waste storage that can accommodate current diversion rates and a zero waste future. For neckles I don’t asked. But then, if you got a good deal on VA then it may still be a good deal. Is it correct? current 22k rate + 28% making+1% vat=your amount.please suggest this is very high valye rate. they talk only about making charges and give discount upto 30 to 50 rupee per/g. They saying that according to item the making charges will vary. To do this, you would multiply your original price by the percentage. Ideally, 8.34gms of 20 carat jewelry should have 7.5gms of 22 carat gold and hence you must have been paid accordingly. But should remark on some general things, The site A very detailed and decent review. but if we simply want to sell it and involve no exchange, then he says , he’ll be deducting the making charges on his own ornament. Very well written and educational. I would think that crafted gold jewelery will be very expensive in the US. This series of concrete calculators has been developed to help you plan your project. 21st April 2015 being Akshaya Trithi and considered auspicious to buy new jewelry I thought of purchasing new gold. This is number one cheating,highway robbery.People don’t know the hidden amount they are paying and most of them don’t know the calculation.This is the plus point for the cheaters. Price of 1 Tola of 24k gold in Qatar = QAR 1756 (Rs. The goldsmith is arguing that the gold quality reduces after melting. With some major analysts downgrading it, a lot of investors started selling gold. For a lil more complicated designs they have 16% value addition. Karat (NOT Carat) is a measure of the purity of gold. After reading your wonderful blog, I have a query …. It is called brittle or rather, they say gold in pure form is not malelable & ductile. could you tell the common wastage of I do not buy Shankar’s theory completely. The lesson here is that, if two vendors are providing hallmark 916 gold jewellery and one is charging less VA, you should obviously go with that one. Landmark Forum Review – Scam, Cult or Pyramid Scheme? Not sure if it’s true. The gold rate per gram was 2526 that day and after negotiating with sales man got the best deal I think which you all have to say to me. I think all over india they sell gold like this. do u find it interesting and would you like to figure out it?? i.e. This friend of mine has been buying gold coins every single month since last several years and he never bought BIS marked ones! Pls advice me. Gold Smith added 13 gram KDM polish in it and finally counted 128 gram gold. Why don't libraries smell like bookstores? Let me know if you have further doubt..it is my own view..rate may vary 5% up or down. But then how they make Profit, simple -by selling 18 Carrot Gold.2 Years back MMTC used to sell Jewel’s, but now they had stopped it,. And there are some husband who may not take care of these. Required fields are marked *. Hi Ajith, * 10KT = 10/24 = .4167 If you have such a bill, you can directly take that to him and question him on being cheated. They charged me around 3000 extra stating its 91.6 hallmark gold and that time I don’t know anything about all these . style is great, the articles is really great : D. Good job, cheers. Please suggest me what to do know. The wastewater percentage represents the proportion of water use that will be charged for volumetric wastewater services. KDM Gold is Not recommended by BIS Hallmark Centers. As per your jeweler’s estimate, you are totally losing about ~2000 rupees (less than one gram price). is not satisfied and asks for more 17K on 1,10,000 valued gold may not be huge VA if the necklace design is not too simple. For example, a stripping ratio of 2:1 means that 2 tonnes of waste rock needs to be mined to mine 1 tonne of ore. Gen… Actually todays price is 2631 per gram but they charged 2700 per gram. I bought gold 10.58 and 5.94 grm.that day rate was 2490 per gram.they have charge to me 8% police and making charge 1 grm on every10 grm .like 10.58+5.94=16.52grm they charge me 1.65 grm as making charge. Having said that, if you are buying BIS hallmarked jewellery at reasonable VA charges, then the name of the shop doesn’t really matter. Kindly answer to me.. 24Kt (24 carat or carrot) gold is the gold in its purest form. http://www.bis.org.in/cert/FAQsHM.pdf, If, any person demand more than it, you have either leave it or ask Invoice clearly show that additional Hallmarking charge then you can complain it to this link Actually if the total cost including VA then it is a good bargain. Do you any idea why the price is getting dropped drastically in last one month and is it a good time to buy Gold? Thank you Ajit. How should i proceed before taking delivey ? It is not exactly “soft”. But didn’t I pay for 22karat by weight ? Thanks. Thanks for the info.It is so clear by your words where a consumer gets trapped easily. Enter a number for the amount of currency in the Exchange Amount text input field. I am getting married in may2014 in my village situated under district Allahabad. Some deduct 50 or 100 rupees per gram. The article clearly brought out everything and calculate and judge yourselves. Further, you may ask them why there’s no norm for this so-called wastage charges (Hopefully at some point the government will normalize this as well). Please tell me asap. Recently the jewellers have started representing the Wastage Charges and Making charges together as VA or ‘Value Addition’. But could you confirm if any wastage charges added further? Also, given the ambiance of the store, we also do not negotiate properly with the Tata employees, because they will use ‘company policy’ to justify low discounts. However, you save that much ONLY when you import within the free duty limits. To calculate the percentage gain on an investment, investors need to first determine how much the investment originally cost or the purchase price. For the stone (i.e. Is this a fair deal? It’s in Bangalore. Then it is fine.some jewellers combine the price of gold and labour charges. And no more extra cost, means we will not take 11 gram’s money for 10 gram. Total Gold Cost= 5877 I want to buy hall mark 22 ct gold ear rings for my daughter at TBZ given gold prices have fallen recently.They are quoting 600 to 650 per gram towards making charges. Now, if your old chain is not 916, you may lose a lot on exchange – according to the purity of that gold, that is. Also why i want to pay Tax for that wastage?? That’s pretty much for now. Some persons commented supporting the Jewellery owners regarding the cost of their establishment, valuation of stock etc. melting point of gold is 1040 degree and evaporation point is 2000 degree. You have a point with you as the highest price for 22kt gold this year has never crossed 2900/gm and on 8th March it was around 2840/gm which should be present in the bill. When you got Rs.86,000 for 38.5gms your 20k gold, I think it’s a very good deal considering that it was roughly equivalent to 35gms of 22k gold. I personally prefer ETF as I am a fan of investments in DMAT form and it’s very liquid investment. Now I decided to get the ring remade so I went to the same jeweller and this is what I was offered –, The gold was annouced as having 72% which is less than 18karat, on asking why 22karat is being taken as 18 karat the answer was there is ‘tanka’ , the joint which makes the total gold value lesser. Went to Joy Alukkas today. On closer inspection we realized the original MA was a whopping 59.8% on the value of gold. One of the quickest ways to calculate a percentage with a calculator is to convert the percentage into a decimal and multiply it by the number you’re trying to find the percentage of. I have never bought such intricate designs. Now for the gold they say that the current rate of 24K is Rs. Now this govt is clean and they could not do anything and opposing the Kalal on Gold. No other mark on. For coins, biscuits and medallions, the wastage cannot be claimed beyond 1.25% . If not, what if the jeweler argues that he intended to sell you 18ct? Whenever you go for an exchange, first ask them how much would they give you. I have exchange the 916 gold chain and taken new chain.i need know what will actual cost which I have pay to shopkeeper . When did organ music become associated with baseball? Is this a good deal? The 20k gold that you purchased, they seem to have added almost similar VA as they charged it as if it were 22k. But, instead he put 23 KDMV mark on it. I was wondering if should take the melted gold to a small local shop and ask him to make a bracelet with my gold. It helps me to buy gold jewellery. Although I come from the place where Kalyan Jewellers (and many others) was founded, I have never bought anything from them. The most genuine ones will give you 100% of the day’s market price, some may deduct just Rs.5 or 10 per gram towards handling but that’s it. ANOTHER thing i want toask you is that so called “wastage charges” are taken at time of buying or at time of selling??? I wanted to know to if some jeweller asking me for 82% wastage and making charges which includes labour chargeres wastage etc that for 14k diamond tops wat should I do. That’s why I am recommending to try other buyers. But Yes, it is always advised to have the knowledge (thanks to Ajit). Iphone6 has making cost ~200$ and sold at minimum ~650$. Planning to buy some Gold jewellery in India and confused about how the whole thing works? I asked for the bis mark…he showed me the number..999.5 as the sign of purity, however,the cover mentioned about the assaying centre but except from the claimed 999.5 % the bis components were not found on the coin: YESTERDAY I BOUGHT A GOLD RING WEIGHING 1.640GM AT 3100/GM.THE WASTAGE IS 0.200 AND MC IS 12% AND HE HAS CHARGED ME RS 574 FOR MC.THE RING COSTED ME RS6300 INCLUDING ALL CHARGES BUT NOT VAT.AFTER READING UR ARTICLE I FEEL I PAID MORE FOR MC.PLEASE HELP ME.AM I CHEATED? Keep posting . Here in Bangalore, the safest option is to buy coins made by Bangalore Refinery (BRPL) which is available in many leading jewelry shops. Why there r taking wastage charges more. By the way, there’s a catch in the exchange deal. which included Mix Jewellery of 916, 20/22kt, KDM, and some OLD SOLID GOLD used by my grandmother. it cannot be taken two times, isn’t it? It’s alarming to know that when a 50,000 rupees jewellery is made, the man who really hand-made it gets only 1000 rupees for days of hard work. However, when you made jewelry out of it, regardless of the wastage, ideally you should have ended up with 916kt end product – may be settle for 35 gms instead of 35.9 but at 916. However, I remember talking to a friend from UAE two years ago regarding bringing gold from Dubai and he (then) said there’s roughly 15% difference in the prices which seems to be right even now. Hopefully the new generation change their attitude. I want to sell my old gold and buy new one, could you please suggest which is the best place to go. Smart buyers like you should be able to make informed choices. When you buy a 10 gram gold chain with the making charges at 35 rupees per gram and wastage charges at 12%, the following will be the calculation to arrive at the final price: (1) Cost of gold alone = 10 * 2500 = 25,000/- (2) Making charges = 10 * 35 = 350/- (3) Wastage charges = 12 * 25,000 / 100 = 3,000/- The total cost before VAT = 28,350/- If the VAT is at 1% that becomes 28,633.50/- Recently the jewellers have started representing the Wastage Charges and Making charges … I want to buy a necklace about 71 gms of gold. 996 or 997 (Not sure if someone is selling 999) pure gold coins should fetch you the current market value of 24k gold and 916 BIS gold coins should get 22k market value. what is the purpose of taking gold to evaporation point? Hi because my bangle has all the 5 things? Then I went to the jewellery shop where I got the jewelry to know the Actual reason behind this. I had one doubt that, what is 24kt. It can vary from 0 to 30% or even more for complicated designs. I bought 28 grams of 916 kdm Kolkatta design.