Gold prices in Kerala saw an increase today, with the price of a gram rising by Rs 40 to Rs 10,530. The price of one pavan has reached Rs 320, bringing the price of a full pawn of gold to Rs 84,240. This increase follows the upward trend in the international gold market.
In the 18-carat gold segment, commonly used for lightweight jewellery, prices rose by Rs 35, bringing the rate to Rs 8,655 per gram. Meanwhile, the price of silver remains steady at Rs 144 per gram.
Traders are concerned that the steady rise in gold prices could lead to a decrease in gold sales in Kerala. Although the total sales volume has increased, there is a visible decline in the quantity of gold being purchased. As prices continue to rise sharply, more customers are turning to the advance booking facility at jewellers, making this service increasingly popular.
While the price of one pavan of gold today is Rs 84,240, purchasing gold jewellery of the same weight will cost significantly more. Jewellery prices are affected by additional factors such as processing fees, taxes, and hallmarking charges. Even with a minimum processing fee of five percent, a piece of gold jewellery will cost upwards of Rs 91,000 today.
The increase in prices is leading to a shift in consumer behaviour, with more customers opting for advance bookings to secure gold jewellery at current rates. This trend has contributed to the rise in popularity of advance booking services among jewellers in Kerala.
