Editor’s Note
The Sarafa Association has announced updated retail rates for gold and silver, detailing prices for various carats and silver jewelry. This information is crucial for retail customers and investors tracking precious metal prices.
The Sarafa Association has released new retail sale rates for gold and silver for retail customers. These rates, set on a per 10-gram basis, include prices for 24, 22, and 18-carat gold, while the price for silver jewelry has also been announced.
According to the list released by the Sarafa Association:
– 24-carat pure gold: ₹ 1,61,000 per 10 grams
– 22-carat gold (92% purity): ₹ 1,49,000 per 10 grams
– 18-carat gold (76% purity): ₹ 1,23,100 per 10 grams
The association stated that these rates have been determined taking into account international gold prices, the rupee’s position against the dollar, and domestic demand.
Alongside gold, stability has also been observed in silver prices. According to the Sarafa Association:
– Silver (Jewelry): ₹ 3,32,000 per kilogram
This rate has been specifically set for silver ornaments. GST and making charges will also be applied additionally to this.
The Sarafa Association has also informed consumers that the announced rates are only the base price of the metal. In addition, GST (Goods and Services Tax), making charges (manufacturing fee), and hallmark charges (purity certification fee) will be levied separately. Customers have been advised to obtain complete billing information from the shopkeeper before making a purchase to avoid any confusion.
The Sarafa Association says the purpose of making these rates public is to maintain transparency in the market and provide consumers with accurate information. This will enable customers to shop at uniform rates without being confused by different shops.
Traders associated with the sarafa market say that in the coming time, considering the wedding and festival season, demand for gold and silver could increase further. During such times, accurate price information is extremely important for customers. 22-carat gold is particularly the most preferred for jewelry making, while 24-carat gold is purchased for investment purposes. Meanwhile, 18-carat gold remains the first choice of youth for modern and lightweight jewelry.
Experts believe that currently, gold remains a safe investment option. During times of global uncertainties and inflation, people are viewing gold as a safe haven asset. In such a scenario, the rates released by the Sarafa Association are also proving to be a guide for investors.
The Sarafa Association has appealed to customers to always purchase only hallmarked jewelry. This guarantees the purity of the gold and can prevent any future troubles. The association says that hallmarking not only keeps customers safe but also strengthens the credibility of the entire sarafa trade.
Local sarafa traders believe that the official announcement of rates brings stability to the market and curbs unnecessary bargaining or rumors. This also benefits small and medium traders and maintains customer trust.
Both customers and traders have praised this initiative of the Sarafa Association. They say that such regular information makes the market more organized and trustworthy.
