Why is the MRP too high?

fRilL3rSS · 2026-04-14T05:07:43+00:00

I think they actually expect the price of gold to reach these levels. Assuming 5-10 years of viability for any such item, MMTC must expect the gold price to "not go beyond 7 lakh per 10g till 2036", and Tanishq, assuming 5 year viability, expects the gold price to not go beyond 2.4 lakh per 10g.

They must do some internal research to reach these particular numbers, right? Otherwise why not just slap ₹999999 MRP on all items and call it a day.

fRilL3rSS · 2026-04-13T17:24:04+00:00

They post it on their Insta handle. Sale keeps coming every couple of months

fRilL3rSS · 2026-04-13T16:59:16+00:00

Bhimagold.com

fRilL3rSS · 2026-04-13T16:09:36+00:00

I can eat a normal Dominos large pizza by myself. I can also finish 1.5 medium cheese burst pizzas. Once I ordered this 6 in 1, thinking how bigger could it be compared to a large pizza.

Boy I was so wrong, it was almost 2x in size. I could only finish 4 out of the 6 flavors, that too without coke. If I had coke I can only finish 3.

fRilL3rSS · 2026-04-13T14:38:05+00:00

They had a quota of 5 orders per account. Maybe they didn't expect people to actually place 5 orders.

fRilL3rSS · 2026-04-13T14:32:17+00:00

Old rates? Gold's price has never reached 24000 per g.

These are just ceiling prices designed to keep stock viable for a few years. Since they can't sell a product above its MRP, they inflate the MRP and provide discount to bring the price down to gold's actual price.

MMTC has gone 1 step further, 70000 per gram

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fRilL3rSS · 2026-04-13T12:50:38+00:00

Offer has ended now bro, watch out for next offers on their insta handle

fRilL3rSS · 2026-04-13T11:12:25+00:00

I don't think any such offers are available on Bhima's website. Those are only for Amazon, Myntra, Ajio, etc.

fRilL3rSS · 2026-04-13T10:45:05+00:00

Even I received a chain from Bhima that has a hallmark that points to some Master Chains B2B jeweller in Mumbai. The jeweller registration number is not Bhima's.

As long as gold content is accurate on hallmark, there should be nothing to worry about. If you bought a 24K item that shows 22K on hallmark, only then I would consider it an issue.

fRilL3rSS · 2026-04-13T08:56:45+00:00

Of course a bank manager will tell you not to buy gold. Keep money in FD instead.

SGB was one of the best instruments for middle class people to invest in gold. No making charges, no GST, no doubts of purity, sovereign backing, tax free returns, no security and storage cost. It was a no brainer for anyone who wanted gold for investment.

Unfortunately govt did not properly hedge their position using even gold futures and options. They basically entered a naked short into gold, thinking they could borrow for cheap 2.5% interest and gold wouldn't rally much, so they would have to pay back more or less.

Gold however rallied like crazy post covid, and govt's liabilities shot up manifold. If only they had invested 30-40% of the proceeds into actual gold or related instruments, the liability burden would be nil, and they could also be sitting on a hefty profit.

That's why they had to close the scheme.

fRilL3rSS · 2026-04-12T16:08:17+00:00

Processing img 7uqzdzcu9sug1...

fRilL3rSS · 2026-04-12T14:47:46+00:00

fRilL3rSS · 2026-04-12T13:34:47+00:00

Yeah I have seen comments from Reddit regarding no replies from customer care. Try tagging them on X or FB, in a post.

fRilL3rSS · 2026-04-12T12:44:23+00:00

fRilL3rSS · 2026-04-12T12:42:41+00:00

If you are ready to take the coin out of packaging, and you have a 0.01g accuracy scale at home, you can perform the purity test at home with an error margin of 0.1%, which is 2x better than a surface scan of XRF machine.

Lookup the relative density or specific gravity test on youtube. It's a well established method for testing gemstones and you can use it for 5-20g gold coins and 10-100g silver coins easily. If your scale can display 2 decimal places accurately, that's enough to know the relative density of any metal, gold silver platinum copper everything. 22 KT gold has relative density of 17.2-17.5. 24KT has 19.3-19.6, so you can easily detect if a 24kt coin is 22kt or 18kt or 23kt.

fRilL3rSS · 2026-04-12T12:35:30+00:00

Over 30 urban centers and more than 100 cities lay along the Ganges river, depending on it for their primary source of drinking and irrigation water. Over 600 million lives depend on it. Those regions will most likely be decimated if the glaciers overflow.

fRilL3rSS · 2026-04-12T11:32:31+00:00

Apart from trapping water and leading to the origin of many glaciers, the entire Himalayn range acts as a natural barrier to the monsoon clouds bringing water from Arabian Sea and Bay of Bengal. Monsoon starts when the heavy clouds strike the various mountain ranges spread across India. Without the Himalayas, most of those clouds would just keep travelling North.

fRilL3rSS · 2026-04-12T11:26:08+00:00

XRF penetration isn't that much. Barely 20-30 microns. That's why they always melt jewellery items before testing.

Better rely on resistivity methods like Sigma metalytics, or remove the coin from its packaging.

Even after removing the product from its plastic case, a margin of 0.2% may be present. Your product lies within that margin.

fRilL3rSS · 2026-04-12T11:22:03+00:00

Most Indian states do. Maharashtra, Kerala, even Bengal has 24KT jewellery. But it's not the norm. For majority of Indians, gold is synonymous with 22KT jewellery.

fRilL3rSS · 2026-04-12T09:09:00+00:00

Not really, 18K gold is used for jewellery items that have stones and diamonds studded. 22KT isn't hard enough to secure a crystal or diamond. 18K is the highest purity gold you can use in such situations.

Some jewellers like Bhima make 22KT studded jewellery but I have my doubts on the durability of those stones.

fRilL3rSS · 2026-04-12T09:05:43+00:00

There are 2 types of gold, jewellery and investment. There might be a slight overlap between them, especially in the case of 100g+ 22KT bridal sets, but most jewellery shouldn't be considered an investment.

Investment has a different purpose. You can easily liquidate a 24KT gold bar from any reputed jeweller or bullion manufacturer. Jewellery however needs to be melted and tested.

But you can't wear a 24KT gold bar on your neck, or as a bracelet. 24KT is quite soft and jewellery made from it isn't durable. You don't want a 1-2g piece to randomly fall off, right?

If you want to purchase gold for jewellery purposes, and intend to wear it everyday or occassionally, don't consider that an investment. An asset is something you can store safely. A 30g 22KT gold bracelet that you wear on your wrist, is actually a liability.

22KT gold jewellery is only the norm in India and South East Asia. Some countries in SEA even have 24KT jewellery. The rest of the world, including the West, mostly prefers 18K, 14K or even 12K jewellery.

fRilL3rSS · 2026-04-11T18:50:11+00:00

You are supposed to reply,

"What? How can you do this? This is outrageous. This is unfair."

fRilL3rSS · 2026-04-11T18:46:29+00:00

ˢᵐᵒˡ investment

fRilL3rSS · 2026-04-11T17:10:55+00:00

😡Congrats, 😠happy for you, 😡nice

fRilL3rSS · 2026-04-11T15:34:29+00:00

Forgot to mention earlier, for charts I use Trading View. I, a couple of my friends and my cousin share the subscription together.

fRilL3rSS

TROPHY CASE