There is no change in gold prices in Kerala today. However, the international market has left its doldrums and is back on the path of progress. Observers say that this may lead to higher prices in Kerala in the coming days. The wedding season has begun, so what should those looking to buy gold jewelery do on this occasion?

Even today, gold trade in Kerala is at Rs 6,715 per gram. Pavan price is Rs 53,720. Yesterday it was Rs 20 per gram and Rs 160 per gram. The price of 18 carat gold, which is used to make jewelery studded with stones including diamonds and thin (lightweight) remains unchanged at Rs 5,555 per gram today. Meanwhile, silver prices fell by Rs 1 to Rs 92 per gram.

Will international prices go up again in Kerala too?

The gold price is determined every day based on the international price of gold, the price set by the banks that import gold into India (bank rate), the price of gold in the Bombay market, the value of the rupee against the dollar, and the profit margin of traders. That is, if the international price increases, the price in Kerala will also increase proportionally.

The international price, which had been hovering between $2,502-$2,510 per ounce for the past few days, has now regained consciousness. It is currently trading at $2,517.93, up $10. Gold prices may rise if the assessment that the US central bank, the Federal Reserve, may reduce the basic interest rate by September comes true. This is because if interest rates fall, the dollar weakens. Yields on US government bonds will also fall.

This will prompt investors to shift their investments to gold investment schemes. With that, the price of gold will also increase. Currently, the US dollar index is in a weak position of 100.95. The 10-year US Treasury bond yield was also at a low of 3.835 percent. A few months ago the dollar index was at the 106 level and the Treasury yield was at 4.6 percent.

Observers believe that the gold buying trend, taking advantage of the weak dollar, will strengthen. The international price may soon break the record of $2,532 recorded last week. If so, the price will go up in Kerala too.

What’s a jewelry lover to do?

53,720 rupees today. But, at this price, you won’t get a Pawan Jewellery. Along with this, wages, GST and hallmark fees must be paid. A Pavan jewelery can be bought in Kerala today for a minimum of Rs 58,153 including three percent GST, Rs 53.10 hallmark charge (Rs 45+18% GST) and commission (assuming a minimum of 5%).

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%.

Advance booking can be availed for those who buy large quantities of jewellery, including for wedding purposes. Most of the leading jewelers offer this facility. Booking period from one month to one year is also available. Bookings can be made by paying a certain percentage of the price of the jewelery to be purchased 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 is, even if the price increases after booking, it will not affect the user.