Gold Price in Madhya Pradesh (Indore & Bhopal Markets) on 4 December 2025 & How to Record Gold Rates in TallyPrime – Complete Guide

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Madhya Pradesh is home to some of India’s most popular jewellery markets, especially Sarafa Bazaar Indore, Sarafa Bazaar Bhopal, Chowk Bazaar Bhopal, and the Rajwada area in Indore. These markets set the benchmark for gold trading in the state, and jewellers, bullion buyers, and ornaments makers depend on their daily rates.

As of 4 December 2025, the gold prices across these major markets remained largely uniform because both Indore and Bhopal follow the same bullion association rates. Below are the approximate market values:

 Gold Rates on 4 December 2025 (Average Across MP Markets)

• 24K Gold (999 Purity): ₹13,041 per gram
• 22K Gold (916 Purity): ₹11,955 per gram
• 18K Gold: ₹9,783 per gram

These prices applied across the following major markets:

• Sarafa Bazaar, Indore
• Rajwada Market, Indore
• Sarafa Bazaar, Bhopal (Old Bhopal)
• Chowk Bazaar, Bhopal

Small variations usually come from:

• Making charges
• Ornament weight loss
• Shop-to-shop pricing policy
• Gold schemes or discounts

However, the base bullion rate per gram remains the same for the entire city.

Why These Markets Matter in Gold Trading

1. Sarafa Bazaar, Indore

One of India’s most iconic gold markets, known for high-volume trade, hallmark jewellery, and wholesale bullion transactions.

2. Rajwada Area, Indore

A historical zone with several established jewellers offering traditional gold ornaments, silver items, and bridal jewellery.

3. Sarafa Bazaar, Bhopal

The old city’s biggest hub for gold and silver. Popular for handcrafted ornaments, silver utensils, and competitive making rates.

4. Chowk Bazaar, Bhopal

Famous for antique designs, traditional tribal jewellery, and daily-wear items at affordable making charges.

How to Use These Gold Rates in TallyPrime

Daily gold prices play a crucial role in billing, stock valuation, GST calculation, and profitability. TallyPrime allows jewellers to use daily bullion rates directly in their purchase and sales entries.

Below is a simple and complete step-by-step guide.

Step-by-Step Guide: How to Record Gold Rates in TallyPrime

1. Maintain a Daily Gold Rate Sheet

Before entering values in Tally, finalise the daily rate for:

• 24K, 22K, 18K
• City-wise price
• Market reference (Sarafa Indore/Bhopal)

Most jewellers update this sheet every morning and use it as the official rate for the day.

2. Create Gold Stock Items in TallyPrime

Steps:

1. Go to Gateway of Tally → Create → Stock Item
2. Create separate items such as:
   • Gold 24K Bars
   • Gold 22K Ornaments
   • Gold Chains 22K
3. Select Unit: Grams
4. Enable GST (3% on gold, 5% on making charges)
5. Save the item

This setup ensures correct valuation of gold stock.

3. Record Purchases from Sarafa / Bullion Dealer

Steps to enter gold purchase:

1. Go to Accounting Vouchers → F9: Purchase
2. Select the supplier (e.g., XYZ Bullion – Sarafa Indore)
3. Choose your Purchase Ledger
4. Select the gold item
5. Enter:
   • Quantity in grams
   • Daily rate (e.g., ₹13,041 for 24K or ₹11,955 for 22K)
6. GST applies automatically
7. Save the voucher

This updates:

• Total gold stock
• Purchase value
• Tax liability

4. Set Selling Price or Rate in Tally

Most jewellers follow:
Gold Rate per Gram + Making Charges + GST

To configure in Tally:

1. Open the gold stock item
2. Enable Set/Alter Rate
3. Enter the day’s rate (₹11,955 for 22K on 4 Dec 2025)
4. Add making charges as a separate ledger during sales
5. GST applies automatically during billing

5. Record a Gold Sale in TallyPrime

Example:

A 22K necklace weighing 20 grams sold on 4 December 2025, at:

• Gold rate: ₹11,955 per gram
• Making charges: ₹800 per gram

Steps:

1. Go to F8: Sales
2. Select customer
3. Select Sales Ledger (Gold)
4. Choose the item (Gold 22K)
5. Enter:
   • 20 grams
   • Rate ₹11,955
6. Add Making Charges Ledger
7. Tally calculates GST on gold value + making charges
8. Save voucher

Your stock reduces, and sales reflect correct pricing.

6. Updating Daily Gold Rates in Tally

Jewellers typically update rates:

• Every morning
• After major rate changes
• When bullion association issues new price sheets

You can use Price Levels in Tally to maintain multiple rate lists such as:

• Retail rate
• Wholesale rate
• Festive rate

Conclusion

Gold prices in Madhya Pradesh, especially across iconic markets like Sarafa Bazaar Indore, Rajwada, Sarafa Bhopal, and Chowk Bazaar, play a crucial role in jewellery trade. On 4 December 2025, the average rates were around ₹13,041 for 24K and ₹11,955 for 22K gold. These values help jewellers manage purchases, sales, and stock valuation accurately.

TallyPrime provides a complete solution to record these rates, calculate GST, track stock, and maintain price transparency. With the above steps, any jewellery shop can implement daily market-based pricing easily and professionally.

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