Our Data Methodology
Last updated 03 August 2026
Transparency about how we collect and present data is fundamental to what we do. This page explains exactly how MyGoldRates sources gold rates, how we verify them, what normalisations we apply, and where our numbers may differ from what you see at a jewellery counter.
What we track
We track the published daily gold rate of each jewellery brand — the rate they publicly display on their own website or official rate page. This is the rate a walk-in customer could reference before visiting a store. We do not contact jewellers directly, and the rates we show are not negotiated or special rates.
We currently monitor more than 19 national jewellery brands including Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, Joyalukkas, PC Jeweller, Senco Gold, Bhima Jewels, PNG Jewellers, CaratLane, Orra, WHP Jewellers, and others. We also track the IBJA (India Bullion and Jewellers Association) reference rate and the AKGSMA (All Kerala Gold & Silver Merchants Association) rate as wholesale benchmarks.
How rates are collected
Our team checks each jeweller's published rate page multiple times daily during Indian market hours. Rates are typically updated by jewellers in the morning, though some brands update rates intraday in response to significant market movements. Our collection runs at approximately 11:00 AM, 2:00 PM and 5:00 PM IST — capturing the morning open rate and any intraday revisions.
For each brand, we record the rate as published. We do not adjust, round, or editorially modify any rate. The exact figure as published is what we store and display.
Normalisation: the pre-GST, per-gram, 24K basis
Different jewellers publish rates in different formats — some quote 22K per gram, others 24K per 10 grams, others include GST in the displayed rate. To make comparison meaningful, we normalise all rates to a single standard:
The conversion logic:
- If a brand publishes a 22K rate, we derive 24K as: 24K = 22K rate ÷ 0.916
- If a rate is published per 10 grams, we divide by 10 to get per gram.
- If a rate includes GST (3%), we strip it: pre-GST = rate ÷ 1.03
This normalisation is applied consistently across all brands, which is why a brand that publishes a "lower" headline 22K rate may show a higher normalised 24K rate than another brand whose 22K price implies a lower underlying gold value.
We then derive the 22K and 18K rates for display from the 24K base using the standard purity fractions: 22K = 24K × 0.916, 18K = 24K × 0.750.
Sanity checks and outlier handling
Gold rates should follow a predictable ordering: 24K > 22K > 18K. We verify this invariant for every brand on every update. If a collected rate violates this ordering — which can happen when a jeweller makes a website error — we flag that rate for manual review rather than displaying it.
We also run an outlier check against the day's median. If a single brand's rate deviates by more than a threshold from the field median (accounting for normal intraday variation), it is quarantined and not shown until verified. This prevents a data entry error or stale cached page from skewing the comparison.
Brands whose rates cannot be confirmed are shown with an Estimated label — they display the day's market median rather than their own rate, and are excluded from the lowest-rate calculation. We re-check estimated brands on every subsequent update run.
What "national" vs "regional" means on this site
Some jewellers we track operate only in specific regions of India — for example, a South Indian chain present only in Tamil Nadu and Kerala, or a Maharashtra-focused chain. These are labelled as regional brands on our site.
For the headline "Lowest 24K" figure shown in the comparison summary, we use national brands only — those available across India. Regional brands are included in the full comparison table and visible when you tap "In My Area" to filter by your state. This prevents a regional jeweller available only in one state from appearing as "India's cheapest" to buyers in other states where that brand does not operate.
Reference rates: IBJA and AKGSMA
Alongside jeweller rates, we display two wholesale benchmark rates:
- IBJA (India Bullion and Jewellers Association, Mumbai): the daily bullion reference widely used by North and Central Indian jewellers as their base price before applying their premium.
- AKGSMA (All Kerala Gold & Silver Merchants Association): the equivalent benchmark for South India, reflecting the higher gold demand and slightly different regional dynamics of Kerala, Tamil Nadu and Andhra Pradesh.
Both are collected from their respective official published sources each morning. The premium a jeweller charges above the IBJA rate reflects their sourcing cost, certification overhead, and brand margin — typically ₹50–250 per gram.
Making charges data
Our making charges comparison is based on actual product price breakups published by jewellers on their own websites. For each brand and category, we sample multiple products (target: 20 per category) from their product catalogue and extract the making charge percentage where it is disclosed in the product price breakdown. We take the median across sampled products to reduce the effect of outliers (unusually expensive handmade pieces or discounted items).
Making charges data is refreshed approximately every 15 days, as these figures change far less frequently than daily gold rates. The collection date is shown on the comparison page.
Update schedule and data freshness
Gold rates are updated multiple times daily, Monday through Saturday, during Indian market hours. On Sundays and public holidays, most jewellers do not update their published rates; in these cases we carry forward the most recently published rate and label it clearly with the date it represents.
Each rate record includes a timestamp showing when it was last confirmed. The "Updated" timestamp shown on the homepage reflects the most recent successful data collection run.
What our rates do not include
- GST: All rates shown are pre-GST. Add 3% at the billing counter.
- Making charges: These are additional and vary by design, brand and negotiation. Our making charges calculator and comparison tool cover this separately.
- Stone or certification costs: For diamond or gemstone jewellery, the stone value and certification (e.g. GIA, IGI) are additional to the gold rate.
- Exchange or melt deductions: When exchanging old gold, jewellers typically deduct for impurity, testing and melting. These are not reflected in our published rates.
Corrections and disputes
If you notice a rate on our site that appears incorrect, or if a jeweller believes their rate has been misrepresented, please contact us with the specific brand, date, and rate you observed. We review all such reports within one business day and will correct any verified error promptly. Our goal is accuracy, not advocacy for any particular brand or rate.
Independence and conflicts of interest
MyGoldRates has no commercial relationship with any jewellery brand whose rates appear on this site. We do not accept payment from jewellers for inclusion, placement, or rate presentation. Our revenue, to the extent it exists, comes from display advertising shown to our readers — not from jewellers. This independence is what makes our comparison trustworthy: a brand that prices higher than the market shows up as higher, regardless of their advertising relationships elsewhere.