Lesson 21 of 28 · Gold: jewellery or investment · 3 min read · Reviewed 15 Oct 2026
Jewellery carries making charges, often 8% to 25% of the gold value, plus GST. On ₹5 lakh of gold with 15% making charges you pay about ₹5.9 lakh, and on resale you usually get only the gold value back. Gold ETFs and gold funds hold the metal without making charges.
When you buy jewellery, you pay for the gold, the craftsmanship and GST: 3% on the gold and 5% on the making charges.
When you sell or exchange it, a jeweller pays for the gold content, often less a small deduction. The making charges don’t come back.
If gold is for investment, ETFs and gold mutual funds track its price at a small yearly fee.
Key idea: Buy jewellery to wear. If you are buying gold as an investment, hold it in a form without making charges.
Try the calculator and the one-question quiz on this page to check your own numbers.
Many people keep 5% to 10% of their investments in gold, as it often holds up when shares fall.
The government has not issued new SGBs since early 2024. Existing bonds still pay 2.5% a year and can be held to maturity or sold on the exchange.
It depends on the form and how long you hold it. Check the current rules with your CA before selling a large amount.
For learning only, not investment advice. Designed and built by people who have worked at India’s leading wealth management firms.