18-carat gold prices to be standardised across jewellery outlets in Keralam

Jewellers in the Indian state of Keralam have agreed to standardise the price of 18-carat gold across all jewellery stores, the revised pricing system coming into force on October 15. The decision was made by gold trade organisations under the guidance of the Kerala Jewellers Association Coordination Committee, aiming to eliminate price discrepancies for 18-carat gold among different outlets.

S Abdul Nazar, State General Secretary of the Kerala Gold and Silver Merchants Association, explained that the gold price would be calculated using the same proportionate methods used for 22-carat gold. This move aims to ensure uniformity in pricing and enhance transparency within the gold trade. The decision was reached after discussions with various trade organisations, led by K Surendran, State President of the KGSMA.

Nazar highlighted the increasing popularity of 18-carat gold jewellery in Keralam, which now makes up an estimated 10-15 percent of the state's total gold jewellery trade, reflecting evolving consumer tastes. Diamond-studded pieces and rose gold designs are increasingly crafted using 18-carat gold. However, the lack of consistent pricing practices and reliable purity-based sales data poses challenges for market analysis, price comparisons, and consumer transparency.

A standardized pricing system and precise sales statistics would provide greater clarity and consistency for this expanding market segment, according to Nazar. The price differential between 18-carat and 22-carat gold jewellery is approximately ₹24,000, offering consumers a substantial cost benefit. With increasing demand for diamond jewellery and rose-gold creations, 18-carat gold is becoming an appealing and budget-conscious choice for jewellery shoppers.