Pink City, Jaipur is the capital of state of Rajasthan and has a rich jewellery industry that has contributed immensely to the growth of India's Jewellery industry. Jaipur is renowned as one of the centres responsible for making artistic jewellery. Thanks to the local artistry, tourists as well as locals constantly track Gold rates in Jaipur.
The Today Gold Rate Page in Jaipur informs investors and buyers on changes in Gold rates in the city. Rates mentioned on this page is exclusive of GST and making charges. Gold rates for Jaipur are more or less similar for other cities from the state including Blue City - Jodhpur, Bikaner, Ajmer, Kota, Chittorgarh, Bundi, and Beawar. Jewellers and bullion traders from other cities and districts of the state usually price their rates comparative to Jaipur rates.
Jaipur & Gold:
The jewellery industry of Jaipur is a fabled one with legacy of nearly three centuries. The city's sojourn with jewellery is documented to have bloomed under the royal patronage of Raja Jai Singh II. After withdrawal of pilgrimage tax, citizens bestowed their love upon the King by showering upon him precious jewels during a procession. The King who is also credited for Jaipur's world-renowned architecture and giant sun-dials is credited to have contributed immensely to Jaipur’s jewellery industry.
For the uninitiated, Jaipur held records such as the world's largest stone-cutting centre in the world, the pioneer of Kundan Meena style of jewellery, and the world capital of colored Gemstones. In fact, Rajasthan's jewellery industry (prior to GST), according to an industry estimate, is worth Rs 3,500 crores. A majority of this business has its base in Jaipur - the Land of Palaces, Forts, Heritage hotels and a hot wedding destination. Although Jaipur saw the rule of Rajputs and Mughals, the industry has evolved with each era and has seen growth in value.
If you are a tourist visiting Jaipur, you should know about the City Palace, Amber Fort, Hawa Mahal, and other architectural marvels. Unesco regards Jaipur, as a world heritage site. If jewellery shopping is on your itinerary, do give adequate time to experience jewellery marvels such as Kundan, Meenakari, and Jadau. Remember, rich brides from Delhi and Mumbai prefer the karigars and sundar-abhushan (beautiful ornaments) when it comes to jewellery for their wedding day. Red floral motifs and precious gemstones are usually a rage.
How are Gold rates in Jaipur calculated:
Gold rates for 24 Karat or bullion or 999 and even 995 bullion in Jaipur and adjacent localities corresponds to International spot rates and prevailing benchmark rates. The minor differences, if any, are attributed to the domestic supply-demand. Since Jaipur has a large jewellery production centre, traders and jewellers usually succeed in negotiating rates to ensure affordable jewellery for customers. It is quite possible that Jaipur would get you bullion or 24 Karat Gold at cheaper rates in Western India.
When it comes to 22 Karat gold rates, the rates are mostly fixed by local jewellers and Sarafa associations based in Jaipur. The rates for 22 Karat or 916 Gold usually tend to trade slightly higher than Ahmedabad and Mumbai but jewellers can offset that extra-cost through discounts and bargains. Speaking of bargains, the jewellery designs such as Kundan or Meenakari or even Jadau are popular across the world and there can be chances that the rates or even the making charges may be higher. Let us remind you that the same design in Mumbai and Jewellery may be a tad expensive simply owing to dealer margins.
What causes rates in Jaipur to fluctuate?
Similar to other cities, rates in Jaipur are updated twice. Rates between morning and evening are usually negligible but can spike on days when USD-INR rates trade volatile. Besides volatile currency fluctuations, the international price of bullion in dollar price and other major economic announcements are also reasons for intra-day spurts. Sify.com updates the gold rates in Jaipur at least twice to ensure that readers get to know the latest rates.
Popular Gold Investment Avenues:
Intricate karigari work, meenakari, Kundan or Jadau sets from Jaipur are a great value for money, if the idea is to authentic Rajasthani jewellery. Also available are myriad options with cultured Gemstones. Those buying gemstones, however, should know that higher making charges on gemstones can make jewellery-shopping a tad expensive. A Feb'2020 budget hiked import-duty on uncut colored stones by 0.5 percent. Previously, a zero-import duty resulted in cheaper gemstones. Thanks to the new tax, rates on Jadau jewellery have turned expensive by 1 percent. For the jewellery industry, the import-duty hike is reported to have resulted in a loss of Rs 500 crores per annum. If you are buying gemstones ensure you are getting one with an assaying report clearly mentioning the actual carats or weight of the stone. If you are purchasing a diamond stone, ensure ascertaining the source of origin.
From an investment perspective, coins with intricate designs and figurines as well as bars and Gold ETFs have worked well among investors in Jaipur. Not many jewellers have a gold investment scheme since the demand is more tilted in favour of gemstones. Among learned investors, funds in shares or stocks related to Gold trade have genuinely worked well.
Tips for first time Gold jewellery buyers:
1. You may come across historical jewellery or even coins with a chequered history. Such pieces can have great numismatic value and it advisable to verify the history prior to transacting. You must ask for a BIS certification or assaying report to determine gold purity levels. In case the seller does not have one, you could determine purity at a nearby BIS hallmarking and assaying centre. When it comes to Gems, always verify the weight and origins or history prior to buying. For confirming on history, you can check with local auction houses and experts.
2. While buying 22 Karat gold jewellery, check the weight of Gold in grams and rate of Gold at the time of purchase. It is also advisable to inquire the making charges and wastage associated when it comes to Gold. You can negotiate on the rate of Gold as well as making charges. Cost of Diamonds and gemstones is charged on top of this.
3. Check for BIS certifications or assaying reports.
4. Check for buy-back terms.
5. Ask for a bill once you are confident of the transaction. Transactions devoid of a bill may sound cheaper, but we always advice customers to go for a proper bill mentioning the amount of Gold, Gemstones, name of jeweller, registration details and GST registration id. Opting for a bill may be handy for re-sale at later date.
6. For tourists visiting the city, a weaker Rupee can make your shopping slightly expensive. Having precious stones and gemstones can get a little expensive. The wastage charges can get higher if you are looking at hand-crafted jewellery. Obviously, the karigars have kept in touch with several technological advancements and hence can offer some discounts to those who are willing to negotiate.
Popular Jewellery Ornaments in Jaipur:
Jewellery in Jaipur can amaze with its sheer artistry. Bridal and the contemporary collections are equally popular among buyers. Among bridal collection the engagement rings, diamond sets, studded earrings, bridal trousseaus, Kundan & Jadau necklaces and bangles are popular. Other jewellery includes bracelet, nose-rings, lac-bangles. If you are shopping around Jaipur, do check for Zardozi, Zari and Lakh ki Chudiya in Jaipur. The Chittorgarh creative art-work involving glass on gold also stands out.
Good time to buy Gold in Jaipur:
Usually, the tourist demand is perennial through the year with peak usually observed during Summer. Also seen is the festive shopping period of Diwali and Dhanteras. You can also buy Gold during one of the Shubha-Muhurat occasions such as Diwali, Dussehra, Eid or Dhanteras. To save money while buying Gold, do keep a track of Gold rates in Jaipur as mentioned on this page.
Time-Trusted & Popular Gold Showrooms of Jaipur:
There are several pockets and bazaars in and around Jaipur. Mirza Ismail Road, Chand Pol Bazaar and Johari Bazaar are popular for being shoppers paradise. Johari Bazaar mostly sells diamonds, emeralds, Sapphires, Rubies and even rare collectibles. For those keen on knowing diamonds and gemstones, the Amrapali Museum at Ashok Marg road can offer a rich glance into the history and legacy of Jaipur. The two-story museum is decked with hundreds of pieces of craft.
You may find centuries old jewellers in and around Jaipur. Gem Palace which commenced in 1852 under the royal patronage of Jai Singh Ji II is one such avenue. The clientele of Gem Palace reads Lady Diana, Lord Mountbatten, Judi Dench, Jacqueline Lee Bouvier Kennedy Oassis (wife of John Kennedy, the 35th President of US), Gwyneth Paltrow, Prince Charles - the Prince of Wales and Camilla Parker - the Duchess of Cornwall.
Talk of legacy, social media buzz around the 1735 established Surana Jewellers is prominent. This is the oldest that we have come across major Indian cities. Another legacy name is Raniwala Jewellers that mentions its year of origin as 1881. Raniwala's artistry involves Flat-Cut Diamond (polki) or jadau jewellery.
Then there's Amrapali Jewellers which has designed jewellery for a few Hollywood classics. Other big names in Jaipur includes Motisons Jewellers and Birdhichand Ghanshyamdas Jewellers. Covid has prompted several jewellers into the ecommerce route and you should check online for the times of business prior to visiting.
In recent times, you will find the bigger entrants such as Kalyan Jewellers and Malabar Gold branches as well.
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Why subscribe to authentic rates:
Gold investment can help safeguard from inflation. Usually, an investment of 10-15 percent of financial portfolio is advised in the form of Gold. Gold, certainly has remained a favorite investment form for scores of Indians and can work wonders when done correctly. The information mentioned on this page empowers buyers to negotiate when it comes to gold and jewellery. In fact, even Rs 10 saved is Rs 10 earned.
Having latest and authentic rates can help buyers plan their investments much in advance. Knowing the latest rate also helps during a gold loan. The gold rates in Jaipur is a way to enable customers access the latest and authentic gold rates. Another reader engagement from Sify.com is our frequent articles and insight columns with popular industry veterans and market experts. These insights offer readers information on when to buy gold and what rate to buy it at. Do bookmark this page or download Sify Gold rates app to track the latest gold rates for prominent cities across India.
Disclaimer: Sify.com showcases news, analysis and gold rates with the sole objective of financial prosperity for all. The rates mentioned may vary within the same city and readers are hence advised to consult with a registered financial advisor. For any complaints, feedback, opinions or to share experiences write to email@example.com with the subject – Gold / Bullion.