What Today’s Gold Price Drop Means for Jewellery Buyers

Gold jewellery rates fell across India's largest branded chains on Saturday, September 5, 2026. Tanishq listed 22k gold jewellery at Rs 14,235 per gram, down from Rs 14,405 on September 4. Joyalukkas, Malabar Gold & Diamonds and Kalyan Jewellers each listed 22k gold at Rs 14,190 per gram, down from Rs 14,360 a day earlier.

Those rates were shown on the brands' websites as of 12:00 pm for New Delhi, Mumbai, Chennai, Kolkata, Thiruvananthapuram, Coimbatore and Bengaluru. They may change during the day and differ by state because taxes and other charges vary. The published gold rate is not the final amount a buyer pays.

The Indian Bullion & Jewellers Association's indicative retail selling rates for the afternoon of September 4 put 24k fine gold at Rs 15,488 per gram, 22k at Rs 15,117, 20k at Rs 13,785, 18k at Rs 12,546 and 14k at Rs 9,990. Silver 999 was listed at Rs 2,35,456 per kg. IBJA rates exclude 3% GST and making charges, and the association does not update gold or silver rates on weekends.

Why the Sticker Rate Is Not Your Final Jewellery Bill

Why the Four Chains Are Not Quoting One Price

On September 5, Tanishq's 22k rate of Rs 14,235 per gram was Rs 45 higher than the Rs 14,190 shown by Joyalukkas, Malabar Gold & Diamonds and Kalyan Jewellers. That small spread is a visible reminder that branded jewellery rates are not a uniform market price. Each retailer sets its own published rate, and the difference widens once making charges and taxes are added to the invoice.

The Gap Between a Benchmark and a Bill

IBJA's rates are useful as a purity-wise reference, but they are not a store quote. The association's 22k indicative rate of Rs 15,117 per gram is a benchmark before the costs that most affect a jewellery purchase: the 3% GST and making charges. Because IBJA does not update at the weekend, Saturday shoppers should rely on the latest store rate rather than waiting for a fresh IBJA figure.

Four Checks Before You Buy Gold Jewellery This Weekend

If you are buying gold jewellery this weekend, these checks can help turn today's rates into a realistic final price.

  • Compare the store rate, not only the brand name. On September 5, Tanishq quoted Rs 14,235 per gram for 22k, while the other three major chains quoted Rs 14,190. A Rs 45 per gram difference adds up on a heavier piece.
  • Confirm the purity you are being quoted. Today's IBJA reference for 18k is Rs 12,546 per gram, far below 22k, so make sure the ornament's purity matches the rate.
  • Ask for a fully loaded price. IBJA's figures exclude 3% GST and making charges; branded jewellery bills also add these, so request the final per-gram rate after all charges before you pay.
  • Recheck later in the day. The published rates were as of 12:00 pm and can change, meaning a quote given in the morning may not be the same at the payment counter.