Calculate Gold Price Using COMEX

Buying gold can be tricky because different stores might charge different prices for the same thing.

To make sure you're not paying too much, you can use a simple calculation.

First, check the international gold price on COMEX, which is in dollars per ounce.

Then, convert that price to rupees using the current exchange rate.

Next, convert the price from ounces to grams.

After that, add 6% excise duty and 3% GST to get the final price per gram.

This gives you the base price of 24-karat gold.

If you want to find the price of 22-karat gold, which is what most jewellery is made of, you multiply the 24-karat price by 91.6%.

This helps you understand if the price you're being charged is fair.