NRI Guide to Buying Gold in India and Customs Rules
NRI gold customs India guide: duty-free jewellery allowance, gold coin/bar duty, documentation, channels to buy, and repatriation basics — verify current CBIC limits.
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How to Store Gold Safely in India: Home Safe vs Bank Locker
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Frequently Asked Questions
How do Ahmedabad jewellers use MCX to set today's shop rate?
Jewellers use MCX as a wholesale direction signal, then add duty, GST, spread, and making charges for the invoice you pay. See our MCX vs local gold rate guide for the step-by-step formula.
Why is MCX considered the base price for gold trading?
MCX gold futures reflect global spot, USD-INR, and trader sentiment in near real time — the wholesale reference before local costs are added.
Should a small jewellery shop in Gujarat track MCX daily?
Yes. Even a single-counter shop can time bulk purchases, explain price moves to customers, and avoid overpaying suppliers using the same benchmark large traders follow.
What purity does MCX gold price represent?
MCX quotes 24K (99.9%) gold. Jewellery is usually 22K (916) or 18K (750) — see our 22K vs 24K guide for purity conversion before comparing shop rates.
Why does gold price differ between Ahmedabad, Mumbai, and Delhi?
International spot and MCX set the base; local supply, logistics, dealer margins, and festival demand create small same-day gaps between cities.
Does GST apply when I buy gold from a jeweller in India?
Gold metal attracts 3% GST. Making charges on jewellery also carry GST. Always ask for a break-up on your invoice — metal value, making charge, and tax lines separately.
What is Silver Chorsa 98 and Silver Chorsa 96.20?
Silver Chorsa 98 is 98% pure silver, common in jewellery and industry. Chorsa 96.20 is 96.2% pure, traditionally used for coins and ornaments. Purity directly affects buy-back value.
How can I track live Gold & Silver prices on GS24LIVE?
Live prices appear on the homepage in table and card views — MCX futures, international spot rates, and USD/INR in one screen.
Can I set price alerts for gold or silver?
Yes. Set a target price and get notified when gold or silver hits your level — useful for buying on dips or selling near day highs without watching the screen all day.
Are currency conversions (USD to INR) included?
Yes. Live USD/INR is shown because rupee movement directly affects landed bullion cost in India.
What is the best time to check gold prices during the trading day?
MCX gold is most liquid 9 AM–11:30 PM IST; major moves often appear at the open after overnight global sessions. For session timing strategy, see our MCX buy and sell timing guide.