On 29.01.2009 i went to PC Chandra jewellers to sell a pair of bangles that was previosly purchased from PC Chandra jewellers, the ongoing market value of 22 ct gold was Rs. 13980 per 10 gm but they gave me the value at the rate of Rs. 12580 per 10 gm, i.e more than 10% less of the market value.
When i asked about the reason they say it is their company policy, but as per my knowledge they are following BIS standards and so the selling and the buying price has to be same.
Earlier i sold gold ornaments of B Sarkar and i got the full value as per the market rate of 22 ct gold on that day, so i just want to know if all the jewellers are following BIS standards how can they differ in selling and buying prices of gold, is it justified on the part PC chandra jewllers cheating their customers by such an high rate of difference.
I would really appreciate if i get a prompt reply
thanks and regards