Glossary

Akshaya Tritiya and gold-buying terms defined plainly.

• Akshaya Tritiya

  A Hindu festival considered the most auspicious day of the year for buying gold, silver, and starting new ventures. In 2026 it falls on April 30.

• Shubh Muhurat

  An astrologically auspicious time window. On Akshaya Tritiya, the entire day's tithi qualifies, but smaller Abhijit muhurat windows are considered ideal for gold purchase.

• 22K Gold (916)

  Gold alloy that is 91.6% pure gold mixed with 8.4% silver and copper for hardness. Hallmarked BIS 916. Used in nearly all Indian daily-wear jewelry.

• 24K Gold (999)

  Near-pure gold (99.5–99.9% gold). Too soft for daily-wear jewelry. Sold as coins, bars, and biscuits for investment.

• HUID (Hallmark Unique ID)

  A 6-digit alphanumeric code stamped on every hallmarked gold item sold in India since April 2023. Uniquely identifies the piece in BIS's national registry.

• Making Charges

  Labor cost for turning raw gold into jewelry. Typically 6–28% of gold value, or ₹400–3,500 per gram. Never refunded at resale.

• Wastage Charges

  Extra weight added to your bill to cover gold 'lost' during jewelry manufacturing. 0–10% is common. Often inflated.

• Sovereign Gold Bond (SGB)

  Government-backed gold bond issued by RBI. Pays 2.5% annual interest, tax-free at maturity (8 years), no making charge.

• Digital Gold

  Gold you buy online in small fractions, backed 1:1 by insured physical gold in a vault. Sold by MMTC-PAMP, SafeGold, Augmont and apps like PhonePe, Paytm.

• Gold Savings Scheme (GSS)

  Monthly installment plan at a jeweler where 11 of your payments are matched on the 12th, and you get making charge waivers on final purchase.

• IBJA Rate

  The daily gold reference rate published by India Bullion and Jewellers Association, used by RBI for SGB pricing and by banks for loan valuation.

• GST on Gold

  3% Goods and Services Tax levied on the total gold invoice including making and wastage. Non-refundable.