In the Indian market, where gold is deeply embedded in culture and tradition, consumers are constantly seeking the best value for their 22K gold jewellery purchases. Several prominent jewellers, including Malabar Gold & Diamonds, Tanishq, Joyalukkas, and Kalyan Jewellers, compete to offer the most attractive prices and designs. Here's a comparison to help you make an informed decision.

Current Market Scenario

As of October 24, 2025, the prevailing rates for 22K gold among these jewellers are quite competitive. Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers are all offering 22K gold at approximately Rs 11,500 per gram. Tanishq's price is slightly higher, at around Rs 11,505 per gram. It's important to note that these prices exclude Goods and Services Tax (GST) and making charges, which can significantly impact the final cost.

Key Factors Influencing Gold Prices

Several factors influence gold rates in India, both on a global and domestic scale. These include:

• Global Gold Prices: Gold prices in India are directly influenced by international markets. Fluctuations in the global gold market are reflected almost immediately in the Indian market.
• Import Duties and Taxes: Government levies such as import duties and GST on imported gold affect local prices.
• Rupee Exchange Rate: The USD-INR exchange rate plays a crucial role, as India imports a significant portion of its gold. A weaker rupee can lead to higher gold prices.
• Seasonal Demand: Demand for gold tends to increase during wedding and festive seasons like Diwali, which can drive prices up.
• Inflation: Gold is often considered a hedge against inflation. Rising inflation can boost gold prices as people seek to preserve their wealth.
• Central Bank Policies: The Reserve Bank of India (RBI) holds gold reserves, and its policies can influence gold prices.
• Market Sentiment and Geopolitical Factors: Economic uncertainty, geopolitical tensions, and investor sentiment can also impact gold prices.

Comparing the Jewellers

While the base price of gold is similar across these major jewellers, the final cost can vary due to differences in making charges and other fees. Here's a closer look:

• Malabar Gold & Diamonds: Known for its wide range of designs and focus on customer service, Malabar Gold & Diamonds offers competitive pricing and transparent billing.
• Tanishq: A Tata product, Tanishq is known for its quality and innovative designs. While their per-gram rate might be slightly higher, they often have attractive offers and a wide selection.
• Joyalukkas: This popular chain has a strong presence across India and is known for its extensive collection and consistent pricing.
• Kalyan Jewellers: Kalyan Jewellers is a trusted brand with a wide range of jewellery and a focus on traditional designs. They offer various schemes and discounts to attract customers.

Tips for Buying Gold Jewellery

• Compare Making Charges: Enquire about the making charges, as these can vary significantly between jewellers and designs.
• Check for Hallmarking: Ensure that the jewellery is hallmarked by the Bureau of Indian Standards (BIS). Hallmarking is a guarantee of the gold's purity.
• Enquire About Exchange Policies: Understand the jeweller's exchange and buyback policies.
• Factor in GST: Remember that GST of 3% will be added to the final price.
• Track Gold Prices: Stay updated on daily gold rates from reliable sources like the Indian Bullion and Jewellers Association (IBJA).
• Consider Online Options: Explore online platforms for potentially better deals, but ensure the jeweller is reputable and offers certified jewellery.
• Negotiate: Don't hesitate to negotiate making charges or ask for discounts.

Impact of Recent Market Trends

Gold prices in India have recently experienced some downward pressure due to reduced demand after the Dhanteras and Diwali festivals. Profit-booking by investors and a general cooling of retail demand have also contributed to this trend. Furthermore, traders are closely watching for signals from the U.S. Federal Reserve meeting scheduled for October 28 and 29, as this could influence gold trends in both global and Indian markets. Analysts anticipate that gold prices may remain slightly subdued until the outcome of the Fed's policy discussion is known.

Disclaimer: Gold rates are subject to change. Please verify the latest prices with the respective jewellers before making a purchase.