Good News For Gold Buyers In Kerala: State To Introduce Uniform Pricing For 18-Carat Gold; Check Gold Rates

Kerala is among the top buyers of gold in India, and a major development is likely to be implemented soon for Keralites. As per reports, the state is planning to introduce a uniform pricing system for 18 carat gold, to tame the different pricing system of jewelers on the 750 purity golds. This will mean that 18 carat gold will have similar prices across jewelers in the state.

Uniform Gold Price For 18-Carat In Kerala

As per Mathrubhumi report, a joint meeting of various gold and jewellery trade associations in Kerala has decided to implement a uniform price structure for 18-carat gold starting this Tuesday.

The meeting was chaired by the T S Kalyanaraman (Kalyan Jewellers) and attended by Dr B Govindan (AKGSMA), K Surendran, Adv S Abdul Nazar (KGSMA), M P Ahammed, A K Nishad, O Asher (KJF) and Shaju Chirayath (KGSDA), as per the reports.

The report pointed out that there has been a notable surge in the market demand for 18-carat gold as it is affordable in comparison to 916 purity (22-carat) and 999 purity (24-carat) golds.

What Is 18-Carat Gold?

Gold jewellery in 18K contains 75% pure gold and 25% other metals. It brings in a balance between purity and practicality, making it a much-preferred choice for wedding bands/rings, engagement rings and other exquisite pieces of jewellery. The add-on metals in 18K gold make it more durable and resistant to damage and wear than 22K gold. This alloy has a rich yellow colour compared to 22K and a considerable level of lustre, as per Joyalukkas website.

Gold Rates In Kerala

These rates are cheaper compared to 22-carat and 24-carat gold. For instance, on Tuesday, 10 grams gold is priced at Rs 1,42,800 in 24-carat and at Rs 1,30,900 in 22 carat.

Gram	24K Gold	22K Gold	18K Gold
1 gram	₹14,280 (-₹11)	₹13,090 (-₹10)	₹10,710 (-₹8)
8 grams	₹1,14,240 (-₹88)	₹1,04,720 (-₹80)	₹85,680 (-₹64)
10 grams	₹1,42,800 (-₹110)	₹1,30,900 (-₹100)	₹1,07,100 (-₹80)
100 grams	₹14,28,000 (-₹1,100)	₹13,09,000 (-₹1,000)	₹10,71,000 (-₹800)

How Different Is 18-Carat Versus 22-Carat and 24-Carat?

The major different is that 75% pure gold element in 18-carat. Because 24-carat gold is he highest possible karat rating and it is essentially 99.9% pure gold. While the 22k gold jewellery is composed of 91.6% pure gold and 8.4% other metals, including copper, zinc and silver, as per Joyalukkas blog.