Gold rates

Every ornament in GOLD PRO is priced at a gold rate per gram for its purity. There are two kinds of rate in the system: the live market rate, which is a rate for gold generally, and a bank rate, which is the per-gram figure one partner bank lends against. This page covers where each comes from, who can see it, and which one ends up on a certificate.

Rates live under Admin > Gold Rates and Admin > Banks & Branches. Both are admin-only; employees run valuations at whatever rate resolves for them.

Which rate prices a valuation

The appraiser chooses per valuation, in the Rate Per Gram panel on step 1 of the form.

A bank's published gold rate per gram normally trails the market, so a report bound for a bank is normally priced at the bank's own figure. Both rates are printed on the certificate regardless of which one applied, so the branch manager can see the market rate you valued against.

The form sends only the choice of basis. The server resolves the actual figures and reprices from scratch, so the rate on a saved valuation is never one a client supplied. If you ask for the bank basis and that bank's rate has been removed in the meantime, the save is rejected rather than quietly repriced at the live rate — you would otherwise be handed a total you never agreed to.

Where the live rate comes from

The live rate resolves in three stages, and stops at the first that produces a figure.

Stage 2 is why a brand-new shop can value on day one. It deliberately considers only rates that were fetched from the market — never a rate another shop typed by hand. A manual rate is a commercial judgement, so it stays with the shop that entered it and can never reach anyone else. Rates fetched from the market are shared platform-wide, which is why you usually inherit a working rate even with auto-sync switched off.

Stage 3 is not stored. A shop with no rate of its own, on a platform with no online rate at all, re-runs a live lookup every time the valuation form opens and again every time a valuation is saved. That is a real delay on every valuation, and it is the main practical reason to record a rate of your own.

How the market figure is built

The live sources report international spot gold. That is not an Indian domestic rate, so the figure is scaled up by a configured premium to approximate one — covering import duty, GST and dealer margin. The result is an approximation of the domestic rate per gram, not a quote from MCX or IBJA.

Treat an auto-synced rate as a starting point, not an authority. Check it against the domestic rate per gram you actually trade at, and record your own rate when it drifts.

Setting your own rate

Under Admin > Gold Rates, enter the 24K Rate and the 22K and 18K fields fill in from it. You can override either. All three are per gram. Save with Save Manual Rates, and the rate applies to every valuation from that moment.

Saving is refused when the figures do not hold together:

The band checks exist because ordering alone lets a genuine error through. A per-10-gram 24K figure entered next to a per-gram 22K figure keeps the ordering intact while being an order of magnitude wrong. The bands reject it and name the value they expected.

Saving appends to a history rather than overwriting. Rate History shows your last ten rates with the time each was recorded, and the change is written to your activity log.

Auto-sync

Live Market Auto-Sync is off for every new shop. Turning it on does two things: it records the current market rate for you immediately, and it enrols you in the platform sync that runs every eight hours.

While auto-sync is on, the manual rate form is disabled. Turn it off to enter a rate by hand; the last synced rate stays in force until you save your own.

The sync is conservative. When the market figure has not moved since your last rate, it records nothing rather than growing your history. When it cannot get a valid figure at all, it skips the run entirely rather than writing a guess — your last rate stays in force.

Because market-fetched rates are shared platform-wide, leaving auto-sync off does not leave you rate-less. It means your rate is whatever the platform last fetched rather than a figure recorded against your shop.

Per-bank rates

Set these under Admin > Banks & Branches, in the Bank Gold Rates panel. Each bank you have used is listed with a single field.

You enter one number: the 22K rate per gram. That is the only figure banks publish for gold loans. The 24K and 18K rates are worked out from it by fixed purity ratios, so a bank's karats can never drift out of step with each other. Values outside a plausible per-gram range are rejected — a per-10-gram figure is the usual cause.

Each bank holds exactly one current rate. Saving again overwrites it; there is no version history. What you get instead is an entry in your activity log recording the rate before and after, so a disputed valuation can be traced to the rate in force when it was made. Clearing a bank's rate with the delete control returns its valuations to the live market rate.

Bank rates are private commercial terms. Unlike the market rate, they are never visible to another shop and there is no cross-tenant fallback: if you have not set a rate for a bank, that bank has no rate for you, whatever anyone else has negotiated.

Why past certificates never change

Every valuation stores the live 22K rate per gram and the bank's 22K rate per gram as they stood when it was saved, together with which basis applied. Nothing is looked up again at print time.

This is what makes a rate change safe. Update your rate, overwrite a bank's rate, or turn auto-sync on, and every certificate already issued still prints the figures it was priced at. It is also why a bank rate needs no history table of its own — the valuations carry it.

When no rate is available

A valuation is rejected with No gold rate available only when all three stages fail together: your shop has no rate, no market-fetched rate exists anywhere on the platform, and the live lookup is down. In practice this is rare and temporary.

The valuation form shows the same condition as a setup panel rather than an empty form. Admins can record a rate there and then; employees are told to ask an admin.

Recording your own rate under Admin > Gold Rates removes the dependency entirely: stage 1 always resolves, with no lookup and no delay. It is not required to run a valuation, but it is worth doing.

Reading or recording rates programmatically is covered in Gold rates in the API reference.