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Selling Old Gold Jewellery? How to Avoid Hidden Cuts, Purity Tricks, and Save More Money
Exchanging old gold can lead to hidden losses through purity cuts and high making charges. Experts advise checking purity, avoiding large deductions, and opting for coins to save money.
Jewellers often say they need to melt your old gold to check its purity. This is where the 'game' begins. They might deduct 2 to 4 percent of the weight, calling it 'waste' or 'solder'. To avoid this, always insist they melt and weigh the gold right in front of you. If your jewellery is hallmarked, don't agree to big deductions.
Today's gold rate of over ₹1.52 lakh is for 24-carat (99.9% pure) gold. Your bangles are likely 22-carat. Some jewellers might claim your old jewellery is only 20 or 18-carat to pay you less. Don't just take their word for it. Get the purity checked yourself at a 'Karatmeter' centre before you go.
When you exchange old gold for new, you lose money twice. First, the making charges you paid for the old piece become zero. Second, you have to pay heavy making charges (often 15% to 25%) on the new jewellery. A smart move is to exchange old gold for a gold coin or biscuit. Later, when there's a discount offer on making charges, you can get your new jewellery made.
Gold prices jumped again today, on April 21, 2026. According to the India Bullion and Jewellers Association (IBJA), the rate for 24-carat gold is ₹1,52,155 per 10 grams. This is about ₹60 more than the price on April 20.
Gold prices have seen a massive jump this year. On December 31, 2025, 24-carat gold was about ₹1.33 lakh per 10 grams. Now, it has crossed the ₹1.52 lakh mark. The price had even hit a record high of ₹1.76 lakh per 10 grams in late January 2026.
Disclaimer: The gold rates mentioned here are from IBJA and the exchange policy details are based on general market practices. Prices can vary by city and jeweller. Always consult your trusted jewellery expert and get the purity checked at a government-approved centre before buying or exchanging gold.
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