Nagpur: As Prime Minister Narendra Modi’s recent appeal to Indian households to reconsider unnecessary gold purchases continues to spark debate in jewellery shops across the country, one Nagpur jeweller is going further — questioning a practice that has quietly cost Vidarbha families crores of rupees over the years.
Londe Jewellers, established in 1989 and today recognised as one of the best jewellers in Nagpur with four showrooms across the city — Sitabuldi (flagship), Gokulpeth, Manish Nagar, and Nandanvan — has built a 37 year reputation around a counterintuitive promise: the same gold rate for buying AND exchange, with zero deduction on 22K and 24K gold from any jeweller in India.
To understand why that matters, you need to understand what most jewellers do.
Gold Rate
May 11- 2026 - Time 10.30Hrs
The hidden ‘spread’ that costs Nagpur families lakhs
“Walk into most jewellery showrooms in India,” explains Rajesh Londe, founder of Londe Jewellers, “and you’ll notice that the day’s gold rate has two different numbers. One rate when you BUY new gold. A lower rate when you sell or exchange your old gold. The gap is usually Rs 100 to Rs 200 per gram on 22K gold. That spread is real money. And it’s extracted twice on every transaction — once when the customer originally bought their gold, and again when they bring it back to exchange.”
For a Nagpur family bringing in 100 grams of 22K gold to exchange for a new Maharashtrian bridal set or a fresh mangalsutra, that spread alone can translate to a difference of Rs 10,000 to Rs 20,000, before any wastage or deduction charges are even calculated.
Most jewellers add a second cost on top of the spread: a “wastage,” “refining,” or “handling” deduction of 5% to 20% on the old gold’s weight. On 100 grams of 22K gold valued at roughly Rs 8 lakh, a 10% deduction translates to Rs 80,000 of value the customer loses on paper.
The Londe Jewellers approach
Londe Jewellers’ policy strips out both costs.
“We use one single prevailing Nagpur rate,” Rajesh Londe says. “The number we publish on our daily gold rate page is the exact rate at which we sell new gold today AND the exact rate at which we credit your old gold today. No two rate system. No hidden margin. And on 22K and 24K, we apply zero deduction, regardless of where the gold was originally purchased, whether from any national jewellery chain, any local jeweller, gold coins from a bank or India Government Mint, or even family heirloom gold without an invoice.”
The combined impact: on 100 grams of old 22K gold, a Londe Jewellers exchange returns roughly Rs 1.5 lakh more in credit value than a typical Nagpur jeweller’s exchange, by Londe’s own published calculations. The full process, including XRF purity testing in customer presence, weighing on a calibrated digital scale, and a detailed tax invoice with HUID number, typically completes in 25 to 40 minutes for exchanges under Rs 2 lakh.
For lower karat gold (18K, 14K, 9K), the firm uses on site XRF testing in customer presence and credits at the actual purity reading.
Why now
PM Modi’s recent comments asking households to reconsider unnecessary gold purchases have triggered a national conversation about gold consumption. But in Nagpur and across Vidarbha, the underlying issue is often not whether to buy gold, it’s whether existing gold holdings are being valued fairly when exchanged.
“Indian families have been holding gold for generations,” Rajesh Londe says. “The question isn’t really ‘should they buy more.’ The question is, when they DO transact, is the system transparent? Because for too long, the answer has been no. Gold pricing in India has been opaque. Two rates. Hidden deductions. Charges customers don’t understand. We’ve been pushing back against this for 37 years.”
What Nagpur families come to Londe for
Beyond the gold exchange policy, Londe Jewellers is one of Nagpur’s most requested gold jewellery shops for Maharashtrian bridal jewellery, including traditional Vati mangalsutra, Kolhapuri Saaj, Thushi, Bormaal, and Nath designs, alongside IGI certified diamond rings, engagement rings, gold bangles, gold chains, gold necklaces, and the firm’s popular Gold SIP plan that lets Nagpur families accumulate gold through a monthly savings system without paying upfront. The firm also offers BIS hallmarked gold coins for festival gifting and investment.
“Whether a customer is shopping for a bridal mangalsutra, an engagement ring, a daily wear gold chain, or simply exchanging old gold for new designs, our approach is the same,” Rajesh Londe says. “Same rate. No hidden charges. Detailed bill. That’s why we’ve grown from one Sitabuldi showroom in 1989 to four stores serving over five lakh families across Nagpur and Vidarbha.”
Industry recognition
Londe Jewellers has been recognised across Indian press for both consumer transparency and trade leadership. The brand’s Akshaya Tritiya 2026 campaign was covered across seven leading Indian newspapers in three languages: Lokmat Times, Lokmat Samachar, Dainik Bhaskar, Sakal, Navabharat, Navrashtra, and Tarun Bharat. India’s premier jewellery trade publication, Retail Jeweller India, recently featured the firm for its collaboration with the International Gemological Institute (IGI) on retail team training and customer education on certified diamond jewellery. With 11,000+ verified Google reviews at a 4.7 star average across all four stores, Londe Jewellers has been widely cited by both customers and media as one of the most trusted jewellery shops in Nagpur.
The firm also operates a dedicated 925 sterling silver brand, ZIA Silver Jewellery, with showrooms at Dharampeth and Pratap Nagar. ZIA was covered in 2024 by Business Standard and Mid Day for its expansion plans of 300 stores nationwide by FY 29.
The Londe Jewellers footprint in Nagpur
Londe Jewellers Sitabuldi (flagship), Modi Number 2, opposite Datta Mandir, Sitabuldi, Nagpur 440012, +91 90755 12053
Londe Jewellers Gokulpeth, Plot No. 175, N Bazar Road, Gokulpeth, Nagpur 440010, +91 84460 90383
Londe Jewellers Manish Nagar, Beltarodi Road, near Shanti Park, Besa, Nagpur 440037, +91 80101 48427
Londe Jewellers Nandanvan, Tiranga Square Road, opposite Axis Bank, Azamshah Layout, Nagpur 440024
All Londe Jewellers stores in Nagpur are open 11 AM to 8:30 PM, seven days a week. Today’s prevailing gold rate is published daily on the Londe Jewellers website (londejewellers.com) and is the same rate used for both buying new gold and exchanging old gold.
Established 1989. BIS hallmarked gold. IGI certified diamonds. Maharashtrian bridal jewellery, mangalsutra, diamond rings, engagement rings, gold bangles, gold chains, gold necklaces, gold coins, Gold SIP plan, and 925 sterling silver via sister brand ZIA. 5 lakh+ customers served. 11,000+ verified Google reviews. For media inquiries, please contact info@londejewellers.com or call the Sitabuldi flagship at +91 90755 12053.
