Platinum Price in Allahabad Today

Today's platinum price in Allahabad is ₹54,635 per 10 grams for 24K purity and approximately ₹50,079 per 10 grams for 22K purity. Prices are updated daily based on IBJA (India Bullion and Jewellers Association) rates adjusted for local market conditions in Allahabad.

Platinum prices vary across Indian cities due to differences in state taxes, transportation costs from Mumbai (the main bullion import hub), local demand-supply dynamics, and dealer margins. Allahabad's rates may differ by ₹50-₹300 per 10 grams compared to the national average. Cities with higher demand or those farther from Mumbai tend to have slightly higher prices.

24K gold (99.9% pure) at ₹54,635/10g is the purest form but too soft for jewellery. It is mainly used for coins, bars, and investment. 22K gold (91.6% pure, also called 916 gold) at ₹50,079/10g is the standard for Indian jewellery — alloyed with copper and silver for durability. Most jewellery purchased in Allahabad is 22K.

Making charges in Allahabad typically range from 8% to 25% of the platinum value. Machine-made jewellery is 8-12%, while handcrafted and designer pieces are 15-25%. Making charges are subject to 5% GST. Always ask for a detailed invoice showing the platinum rate, weight, making charges, and GST separately. Compare total per-gram prices across jewellers.

GST on platinum in Allahabad is 3% on the platinum value and 5% on making charges. Additionally, if your purchase exceeds ₹2 lakh, a 1% TCS (Tax Collected at Source) applies. For a 10g 24K purchase at ₹54,635, the GST alone adds approximately ₹1,639.

Yes, BIS hallmarking is mandatory for all gold jewellery sold in India since June 2021. Every piece sold in Allahabad must carry a HUID (Hallmark Unique Identification) number that can be verified on the BIS Care app. The hallmark certifies the gold purity is exactly as claimed — 916 for 22K, 750 for 18K, or 999 for 24K.

Gold prices tend to dip during the monsoon season (July-August) when wedding demand is low. However, jewellers in Allahabad often offer attractive making charge discounts during festivals like Akshaya Tritiya and Dhanteras. For investment, consider SIPs in gold mutual funds or Sovereign Gold Bonds to avoid timing the market. Check the price trend chart above for recent movement.

You can sell platinum at any jeweller in Allahabad — they typically buy back at the prevailing rate minus 2-5% for testing. Established chains offer better buyback rates. Ensure the gold is tested (XRF or fire assay) in front of you. You'll receive value only for the gold content, not making charges. Alternatively, you can pledge gold for a loan while retaining ownership.

Under current regulations, you can purchase gold worth up to ₹2 lakh without providing PAN details. For purchases above ₹2 lakh, PAN is mandatory and 1% TCS applies. There is no upper limit on how much gold you can buy, but purchases above ₹30 lakh must be reported under the Income Tax Act. Always keep purchase invoices for tax purposes.

916 gold is the same as 22 karat gold (91.6% purity). The 916 gold rate in Allahabad today is approximately ₹50,079 per 10 grams. This is the most commonly used purity for gold jewellery in India. When you see "916" stamped on jewellery, it means the piece contains 91.6% pure gold.