Gold price 'will be like this'..!? Shops Announcement..!

Sowmiya Sriram
Gold price 'will be like this'..!? Shops Announcement..!

Leading jewelers from kerala such as Malabar gold & Diamonds, Joyalukas, and kalyan Jewelers have decided to offer a uniform gold price to customers based on bank charges. The gold price varies from state to state depending on the price set by gold societies in each state. They are making and selling gold jewelry. In most places in Arab countries like Dubai, all jewelry stores are forced to sell at the price set by government-controlled gold trading bodies.
Almost the same structure has been attempted by the jewelers of the state in Kerala. On the one hand, with the central government's Hallmark regulation to determine the quality of gold, it will be difficult for small jewelers to get new business at the current level of price parity. In this situation, they are going to sell gold jewelry at the same gold price in all jewelry shop showrooms in the country, said Joy Alukas, Chairman of Joyalukas Group.
During the recent discussion with all the kerala gold and silver Merchants' Associations, which set the price of gold in the state of kerala, it has been decided to introduce a uniform gold price. india Bullion & Jewelers Association National Secretary Surendra Mehta speaking about the decision of the kerala gold and silver Merchants' Associations to introduce a uniform gold price in the country. He said that kerala has become the first state.
As kerala is the leading gold-consuming state in the country, kerala can set a uniform gold price across the country, Chairman of Malabar Group M.P. ahmed said. The price of gold should be uniform across the country based on the bank interest rate. gold prices are ₹150-300 per gram more than the bank rate in most states. It is burdensome to people and gives high profits to sellers.
Gold is sold at different prices in kerala on the same day. In this situation, the same gold price sold to consumers can be traded transparently if sold on a bank rate basis. 10 gm 24-carat gold price rose by 0.46 percent to Rs 52,986.00 on the MCX market. Similarly, the price of silver per kg increased by 0.71 percent to Rs 62,030.00. It is noteworthy that the central government has imposed an excessive duty to reduce gold imports.
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