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GOLD to be sold at SAME PRICE in these 5 states in India!!
Posted on: 24/Aug/2022 10:02:03 AM
To avoid confusion as well as competition in the sales among the customers regarding the price of gold, a scheme has been launched to sell gold at the same price in 5 southern states like TN, Puduchery etc. This scheme would be implemented across entire India in the future
Point is that people buy gold not only as beautiful ornaments but they also get money by mortgaging gold and for investment purposes etc. In India on an average, 1300 tonnes of gold gets sold in a year and 30% of gold gets sold in the state of TN alone. The price of gold increases or decreases and doesn`t remain constant. Moreover, the shops do not sell gold at the same prices.
To get rid of these issues regarding gold, steps have been taken to sell gold at same prices throughout the country. Initially, a plan to sell gold at the same price in 5 southern states was launched.
Mr. Jayantilal Chalani, president of Chennai gold and diamond jewellery shop owners association expressed his thoughts. He spoke about how gold was sold at one price at the shops and at another price in online sales. He added that gold was sold at different prices at different shops. This has led to unnecessary competition now. It is true that the customers get confused regarding the real price of gold and they do not know which shop sells gold at the correct price.
Across the state of TN, there are now a total of 35000 gold jewellery shops and they are both big shops as well as small shops. Mr. Jayantilal then revealed that the association has taken steps to sell gold at the same price throughout India. In Kochi in Kerala, a meeting took place and discussions were held regarding selling gold at the same price. For the last 2 months, the scheme of selling gold at the same price has been implemented in states like TN, AP, Kerala, Telangana and Karnataka.
There would be another meeting at the end of this month and in that meeting there would be discussions about implementing this scheme across India also
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