Refer Report
A disappointment for jewelery lovers and those trying to buy jewelery for purposes including marriage gold price Started rising again. Today, the price in Kerala rose by Rs 20 to Rs 6,715 per gram. The Pawn price has increased by Rs 160 to Rs 53,720. After remaining unchanged for four consecutive days, the price increased today.
The price of 18 carat gold, which is used to make light weight jewelery studded with stones including diamonds, also rose by Rs 15 to Rs 5,555 per gram today. Meanwhile, silver prices remained unchanged at Rs 93 per gram.
Why is the price higher today?
The increase in prices in the international market was also reflected in Kerala. The international price, which was at an average level of $2,510 per ounce in the last few days, went up to $2,528 today, affecting the price in Kerala. Currently, the international price has dropped to $2,515, but the price is expected to rise soon.
Image: shutterstock/srigani
The world’s largest economy If the US cuts the key interest rate next month Bond yields (US government treasury bond yields) and the value of the dollar will fall. This will lead to inflow of investment into gold investment schemes. Gold price will also rise.
Unrelenting conflicts between Israel-Hezbollah and Russia-Ukraine and the world’s leading central banks, including the Reserve Bank of India, buying gold for reserves will add momentum to the price rise. The record in the international market was $2,532 last week.
What should jewelry buyers do?
Advance booking is beneficial when the prices are low. Most of the leading jewelers have introduced advance booking facility.
An Indian jeweler works on gents rings made of gold at a workshop in Ahmedabad on February 19, 2009. Gold reached a record in India after bullion prices climbed above USD950 an ounce and the Indian rupee weakened the most in a month, cooling demand for the imported metal by the world’s biggest consumer. AFP PHOTO/ Sam PANTHAKY
The advantage is that by comparing the price on the day of booking and the price on the day of purchase, the gold can be acquired at whichever price is lower. It is beneficial for those who buy large quantities of gold jewelry, including for wedding purposes. Most jewelers allow a booking period of one month to one year. 10-20% of the gold to be purchased can be booked in advance.
A powerful jewelry price today
53,720 rupees today. But you won’t get a Pawan jewel for this price. Along with this Wages and GST Hallmark fee is also payable. A Pavan jewelery could be bought in Kerala yesterday for a minimum of Rs 57,980 including three per cent GST, Rs 53.10 hallmark charge (Rs 45+18% GST) and commission (assuming a minimum of 5%).
Businesswoman counting money, calculating the conversion rate of Indian Rupee money as a return of financial investment at the table in her office indoors.
Today it has gone up to Rs 58,153. The charges vary from jewelery to jewelery showroom depending on the jewelery design. Some do not charge wages as part of the offer. For branded jewelry, the commission can be as high as 20-30%.
Source: Malayalam