Now Reading: Keralam jewellers standardise 18-carat gold prices from October 15
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Keralam jewellers standardise 18-carat gold prices from October 15
Jewellers across Keralam have standardised the price of 18-carat gold, with the new uniform pricing taking effect from October 15. The decision was taken by gold trade organisations under the Kerala Jewellers Association Coordination Committee to eliminate price variations among jewellery stores for 18-carat gold.
S Abdul Nazar, State General Secretary of the Kerala Gold and Silver Merchants Association, said the 18-carat price would be determined using the same proportional criteria applied to 22-carat gold. The move aims to bring uniformity and transparency. Demand for 18-carat gold jewellery now accounts for an estimated 10 to 15 per cent of the state's total gold jewellery trade, driven by diamond-studded jewellery and rose gold ornaments. The market price difference between 18-carat and 22-carat gold jewellery is around ₹24,000.
Indian Opinion Analysis
The standardisation eliminates price shopping across jewellery stores in Keralam, directly benefiting buyers of diamond-studded and rose gold ornaments, which are increasingly made with 18-carat gold. The absence of uniform pricing and reliable sales data had left consumers without a clear benchmark for comparison. By applying the same proportional method used for the more popular 22-carat gold, trade bodies aim to bring transparency to a segment that now accounts for 10 to 15 per cent of the state's gold jewellery trade. The price gap of about ₹24,000 between the two purities makes 18-carat an attractive option, and standardised rates are expected to accelerate its adoption. The impact will depend on whether the voluntary industry agreement is uniformly enforced by the 10 to 15 per cent of outlets that currently may not follow it.
Source: thehindubusinessline.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
