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Kochi : Jewellery stores across Keralam on Thursday agreed to unify the varying prices previously charged for 18-carat gold, introducing a standardised pricing system. The price of 18-carat gold will from now be calculated proportionally based on the benchmark rates used for 22-carat gold. Because of differing dealer margins, local market practices and rising demand so far, “Unlike 22-carat gold (91.6% purity), which had a uniform benchmark rate set, 18-carat (75% purity) gold pricing varied from jeweller to jeweller.
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It ensures uniformity and clarity across the state’s gold trade sector through the cooperation of multiple associations,” said S Abdul Nazar, state general secretary of Kerala Gold and Silver Merchants Association. The decision was finalised through an initiative of Kerala Jewellers Association Coordination Committee, bringing together various gold trade organisations in the state. The change eliminates arbitrary pricing differences across local jewellers and brings much-needed transparency to the market. Industry stakeholders added that the unified structure will help build consumer trust and create a fair, regulated purchasing experience for gold buyers throughout the state. Download the TOI App.