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.