Components That Add to Gold’s Price in India Read blog - https://navia.co.in/blog/gold-price-decoded-from-global-to-local-jeweller/
Base Price & Currency Conversion Base International Price: ● Gold is priced globally in USD per troy ounce. This international benchmark sets the base for Indian pricing. Exchange Rate Impact: ● This price is converted to INR using the current USD to INR rate (usually ₹84–₹85), directly influencing the local gold price.
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Import Duty ● ●
Basic Customs Duty – 6% This is the tax applied on imported gold. It significantly adds to the base cost and is a key reason for price differences between global and Indian gold prices.
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GST at Retail Level ● ●
Goods and Services Tax – 3% GST is applied when you buy gold from a retailer. This 3% is charged on the final value, including import duties and premiums.
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Dealer Premiums ● ●
Premiums – 1% to 3% Jewellers and dealers add a premium to cover costs like logistics, brand margin, and operational expenses. It varies by brand and region.
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