Buying gold in Hyderabad? Daily gold rate in Hyderabad, top Hyderabad gold showrooms and much more

Last Updated: Fri, Feb 09, 2018 15:22 hrs
Gold Necklace (Reuters image)

How gold rate in Hyderabad is determined

The gold rate in Hyderabad is fixed by gold jewellers in the city. Jewellers form Associations and arrive at a gold price based on international gold rates and by including gold import duty, since almost all the gold sold in India is imported.

One of the most prominent of these gold jewellers' associations in Hyderabad is the Andhra Pradesh Gold Silver Jewellery and Diamond Merchants Association established in the year 1955 and that is more than 200 strong.

GST at 3% is also added to the calculation (an additional 5% GST has to be paid on making charges).

Some of the top gold jewellery outlets though come up with their own rates.

It is not like there is no method to the madness.

One of the ways in which the gold rate in Hyderabad is calculated is as follows:

The almost 100-year-old Indian Bullion and Jewellers Association (IBJA), based out of Mumbai, publishes gold rates twice a day - once in the morning and once in the evening - for gold of 999, 995 and 916 purity. These are the rates that even the Indian government uses to arrive at the price of their Sovereign Gold Bonds.

Jeweller association add gold import duty (currently 10%) to these rates and voila! we have the daily gold rate in Hyderabad.

On this gold rate, the jewellers based on supply and demand, decide whether or not to give a discount. If the demand is high, usually they won't offer discounts. But when demand falls and the gold that is stocked piles up, they decide on a discount they feel won't hit their bottomline.

And even if jewellers give a discount that takes the gold price below the price at which it was bought, they have ways to cover up this shortfall. So, keep a wary eye on the making charges and/wastage and ensure you have covered the points this checklist for every gold buyer raises.

Gold jewellery in Hyderabad

Hyderabad is one of the most significant markets for gold down south.

Chennai, Cochin and Bengaluru are the other three important cities in this corridor. The South, it must be noted, accounts for 40% of India's gold demand. A significant chunk of this comes from Hyderabad.

The biggest indicator of the gold demand in Hyderabad is the fact that Andhra brides, on an average, wear 300 grams of gold at their wedding - the same as Tamilian brides and a tad below the Kerala brides who on an average wear 320 grams of gold at their wedding.

In Hyderabad, Panjagutta is one location where most of the top jewellery outlets can be found.

There are as many as 281 BIS hallmarked showrooms in Hyderabad, including those run by famous names like Manepally Jewellers, Shree Jewellers, Meena Jewellers, Mor Jewellers, Lalithaa Jewellers and Kalyan Jewellers. The full list can be found here.

Hall-marking centres in Hyderabad

Only 30% of the gold sold in India is hallmarked! As experts have noted there are shocking differences in purity and the average under-caratage is anywhere from 10-15%!

So, do ensure that the gold you buy in Hyderabad is hallmarked.

Hallmarking of gold in Hyderabad is currently done in 11 BIS hallmarking centres. In total, there are 45 BIS hallmarking centres (31+14) across Andhra Pradesh and Telangana.

Want to double-check your BIS-hallmarked gold in Hyderabad?

You can get your hallmarked jewellery tested at any of the 11 BIS recognized Assaying and Hallmarking Centres in Hyderabad. This testing will be done on priority, but you have to pay for it. The Assaying and Hallmarking centre will then have to issue an Assay Report.

In case your jewel is found to be of lesser purity than what the BIS hallmark had promised, the testing charges paid by you will be reimbursed by the hallmarking centre that had originally hallmarked the jewellery. The jeweller also will be forced to offer you a like-for-like replacement that lives up to the hallmark, besides also paying the fine that is due.

Popular gold ornaments in Hyderabad

According to a recent survey by the World Gold Council, bangles and chains are the most sought after and contribute between 30%-40% of the demand.

Necklaces contribute between 15-20% and rings - ear rings and finger rings - between 5-15%.

Biggest drivers of gold jewellery demand in Hyderabad

The biggest driver of gold jewellery demand in Hyderabad remains bridal jewellery (50-55%).

Daily wear jewellery accounts for another 35%-40% of demand while fashion jewellery rounds off the remaining 5-10%.

What Hyderabad's brides wear

If we were to go by a recent World Gold Council survey, kangan and gajalu are the most sought after gold bangles.

Among earrings it is the buttalu that is opted for.

The chain of choice for most is sutaru golusu.

Among small necklaces, it is the kandabaranam that brides and their families prefer, while among large sets it is the nakshi haram.

Aravanki, nakshi vaddanam and jada are the other jewels of choice.

When does Hyderabad buy its gold?

The wedding season, and festivals - Akshaya Tritiya, Diwali/Dhanteras, Ugadi and Makara Sankranthi are the big gold-buying occasions in Hyderabad.

Other popular occasions for buying gold are birthdays and anniversaries and ing occasions.

Top gold jewellery showrooms in Hyderabad

Here are some of the more prominent gold jewellery showrooms in Hyderabad.

Manepally Jewellers

Among Hyderabad's most famous jewellers, Manepally Jewellers boasts of an over 125 years heritage.

In a recent report, Deccan Chronicle highlighted how Manepally Jewellers are famed for their jadhav, kundan, pachi, nakashi work and for their expertise in designing the traditional Telangana gutta pusalu haaram.

They specialise in handcrafted jewellery and have about 100 people, including their own craftsmen, working with them. Manepally is a must visit for those keen on heavy gold and gem jewellery that Hyderabad has been famous for since the time of nawabs.

Details of their Hyderabad showroom is below:

6-3-713, "Emerald", Amrutha Hills,
Punjagutta Officers Colony, Punjagutta,
Hyderabad, Telangana - 500082
Tel : 04040313209

Lalithaa Jewellery

Lalithaa Jewellery, which is headquartered in Chennai and which has been around for more than three decades now, has now spread its wings to Hyderabad.

They claim to offer customers the per gram lowest gold rate in Hyderabad thanks to their low wastage charges. And the jeweller does not levy making charges.

There is a wide variety of 916 BIS (Bureau of Indian Standards) Hallmarked gold jewellery on offer at their showrooms.

One can find wide range of jewels - from the antique to the trendy, from small rings and drops to grand harams and oddiyanams in their showroom.

Besides plain gold jewellery, Lalithaa offers Jewellery studded with Ruby, Emerald, Sapphire, etc.

The company's website says stone charge is just Rs 199 per carat and the wastage is not more than 6%.

Its only store in Hyderabad can be found at 6-3-883, Punjagutta, SBR Souk, Somajiguda Circle, Hyderabad, Telangana 500082.
Tel : 04067486677

GRT Jewellers

GRT is now more than five decades old, having come into existence in early 1960s.

A household name in Chennai, it too has now expanded across the South.

GRT has won scores of awards and accolades over the years, for having come out with some of the best designs in bridal category, necklace and ear-rings, besides being counted among the best in terms of customer service, trustworthiness and shopping ambience.

GRT has three showrooms in Hyderabad, the details of which are as follows:

6-3-882/5 Somajiguda Circle
Punjagutta Officers Colony, Punjagutta,
Hyderabad - 500082.
Tel : 04023414999
Store Timings:
Weekdays: 10:00 am to 9:00 pm
Weekends: 10:00 am to 9:00 pm

2-22-300, Plot 3, Bhagya Nagar Colony (Near Arjun Theatre),
Kukatpally, Hyderabad- 500 072
Tel : 0404025 1515
Store Timings:
Weekdays: 10:00 am to 9:00 pm
Weekends: 10:00 am to 9:00 pm

Plot No.87, Mumbai Highway - Chanda Nagar (Opp. to ICICI Bank), Serilingampally,
Rangareddy District, Hyderabad - 500 050
Tel : 04040201515

Kalyan Jewellers

Kerala-headquartered Kalyan Jewellers, which has been in the business for 24 years, made a splash when it attracted Rs 1700 crore in investments in two rounds from US private equity firm, Warburg Pincus. This has helped it launch over 125 showrooms.

Its biggest gold jewellery showroom - what it terms the world's biggest gold jewellery showroom - spanning 40000 square feet is in the heart of T Nagar in Chennai. The showroom was said to have showcased 600 kgs of gold for its customers at the time of launch.

In Hyderabad, Kalyan Jewellers has three showrooms. Details below:

1-7-172/A1, Opposite BSNL, Near ECIL X Road, Ayyappa Swamy Temple Road,
Hyderabad, Telangana - 5000623
Phone: 04027122723

6/3/674/2, Begumpet Main Road, Near Punjagutta Crossroads,
Punjagutta, Hyderabad, Telangana - 500082
Phone: 04023408733

15-21-32/51, Balaji Nagar Main Road, Opposite Big Bazaar, Balaji Nagar,
Kukatpally, Hyderabad, Telangana - 500072
Phone: 04023155333


Joyalukkas is a well known name, not just in India, but in as many as ten other countries.

The group's entry into the jewellery trade dates back to mid-1950s, when Joy's father Varghese opened the company's first jewellery shop.

Joyalukkas has won several laurels in the Gulf as well, the most prominent one being the award of the Super-brand Status in the UAE not once, but for six years in succession.

Joy Alukkas has two showrooms in Hyderabad. Details below:

6-3-668/10/36, Greenlands Road, Durga Nagar,
Punjagutta, Hyderabad, Telangana - 500082
Phone: 04023418205

Opposite Vishwanath Theater, KPHB Main Rd, Kukatpally Housing Board Colony,
Kukatpally, Hyderabad, Telangana - 500072
Phone: 04023892555


Tanishq is a relative newcomer to the jewellery sector, having set up shop just eight years ago. But then, it has a fairly large presence in the country, having already set up over 180 exclusive showrooms across more than 100 cities.

Tanishq, from the House of Tatas, offers Bangles, Bracelets, Chains, Earrings, Necklaces, Nosepins, Pendant Earrings Set, Pendants, Rings, Wedding Collections, Shubham and Divyam Collections, Traditional and Modern Jewellery, Diamonds Jewellery, Gold Jewellery, Silver Jewellery, Gemstones, Diamond Rings, Diamond Set, Pearl, Polki, Gold Coins, Solitaire Jewellery and Bespoke Jewellery.

Tanishq has almost 15 showrooms in Hyderabad.

Details of one of its showrooms is below:

Plot No 540, 5, JNTU Rd, KPHB Phase III, KPHB Phase 6,
Kukatpally, Hyderabad, Telangana - 500072
Phone: 04040153080

Khazana Jewellery

As the name suggests, Khazana is a treasure trove, with its showrooms displaying a wide range of exquisite gold, silver and diamond ornaments.

Khazana forayed into jewellery trade in the 1980s, and has spread its business to other cities.

Khazana claims it is able to offer top service and quality jewellery at competitive price thanks to the manufacturing facilities the group owns.

It has six showrooms across Hyderabad.

Thousands of mid-sized and small jewellery shops are also thriving in the city where gold is not just a status symbol, but also an integral part of religious ceremonies and a good investment avenue.

Almost all the jewellery outlets in the city have savings schemes in place and also facilitate customers to buy jewels through installment schemes. Besides selling jewellery, most of the outlets sell Gift articles that are made of silver, pooja articles and so on.

Gold rate in india

Get latest gold rates on the go with the Gold Rate Now App on your Android smartphone. Click here to download.

More from Sify: