Gold prices have surged dramatically over the past five decades, transforming inherited gold jewellery into a significant financial asset. Today, 24-karat gold is priced at ₹1,42,500 per 10 grams, a stark contrast to ₹432 per 10 grams in 1976. This rise raises questions about whether to sell, exchange, or keep inherited gold pieces.
Before making a decision, it's crucial to assess the jewellery's purity and net gold weight. Non-gold components like stones must be excluded, and purity determines the applicable rate. Sentimental value also plays a role, as some pieces may hold emotional significance beyond their financial worth.
Selling inherited gold involves more than just the current market rate. Jewellers may deduct fees, and tax implications, such as capital gains tax, must be considered. For gold held over 24 months, long-term capital gains are taxed at 12.5%. Additionally, exchanging old jewellery for new pieces involves making charges and GST, which can add to the cost.
Experts advise keeping ownership and valuation records to accurately report capital gains. Ultimately, the decision depends on financial needs, sentimental value, and the costs involved in selling or exchanging the jewellery.