It gave some relief to jewelery lovers and those trying to buy jewelery for purposes including marriage At the price of gold A slight decrease today. The price fell by Rs 10 to Rs 6,705 per gram. Pawn price is down by Rs 80 to Rs 53,640. There was no change in the price yesterday.

Prices in Kerala have dropped today while going through international price fluctuations. 18 carat gold prices fell by Rs 5 to Rs 5,550 per gram. Meanwhile, silver rose by Rs 1 to Rs 93 per gram.

Observers say that falling gold prices can be used as an opportunity for bookings. Because the world’s largest economic power, the United States may soon reduce the base interest rate, so the gold price may increase in the coming days. Therefore, those who buy large quantities of jewelry, including for wedding purposes, can benefit from advance booking.

Most of the leading jewelers offer this facility. Booking period from one month to one year is also available. A certain percentage of the price of the jewelery to be purchased can be booked in advance. The advantage is that by comparing the price on the day of booking and the price on the day of purchase, you can get the gold jewelery at whichever price is lower. That means, even if the price increases after booking, the user will not be affected.

Why price volatility?

US gross domestic product (GDP) grew by 3% in the April-June quarter, beating expectations. The consumer market also performed well. The US dollar index, which was at 100.5 against the 6 leading currencies of the world, including the pound and yen, rose to 101.40 on the backdrop of better GDP. The US government’s 10-year Treasury bond yield also rose slightly to 3.868 percent.

An improving GDP and rising dollar and bond yields should drive gold prices lower. However, international gold prices remain above $2,510 per ounce as the central bank, the US Federal Reserve, is likely to cut key interest rates next month. At one point the price rose as high as $2,527 but then fell back to $2,513.

Observers predict that the price could soon reach $2,550 if the prospect of a rate cut does not fade. However, it is believed that the price could fall as low as $2,470 if the interest rate cut is delayed or a lower-than-expected discount is granted. That means, we can expect volatility in the price of gold in the coming days.

A powerful jewelry price today

The price of gold jewelery is only when GST, hallmark fees and labor charges are added. Today Pawn price is Rs 53,640. GST is three percent. Hallmark fee Rs 53.10 (Rs 45+18% GST). The charges vary from jewelery to jewelery showroom depending on the design of the jewellery. Some do not charge wages as part of the offer. For branded jewelry, the commission can be as high as 20-30%. Assuming a minimum commission of 5%, today you can buy one Pawan gold jewelery in Kerala for Rs 57,976. Yesterday’s purchase price was Rs 58,153.