Why do different jewellers have different gold rates even though they are in the same city?
Different prices are quoted by different jewellers in same city.It is also because the purity of gold used in manufacturing jewellery is different with different jewellers.
For example if a jeweller gives 18ct jewellery guarantee the guarantee is for 75 percent purity .For this guarantee he manufactures jewellery with 76 percent or even 77 percent purity ie 18.25cts or 18.50 cts purity to maintain hallmarking at 18 ct and 75 percent purity.So ultimately the cost of extra purity above 18ct is reflected in the price.
Though hall marking is done regarding the carat of gold but the prices of gold are determined by the various supplier groups in the physical markets. There is no standard agency which realeses a fixed price.Demand and supply of physical delivery of gold is varying and is not centralised like the mcx.
Different suppliers quote different prices of gold which slightly vary and
depending on from whom you purchase or are in contact with for your supply you furthur quote to the customer.
Different prices are quoted by different jewellers in same city.It is also because the purity of gold used in manufacturing jewellery is different with different jewellers.
For example if a jeweller gives 18ct jewellery guarantee the guarantee is for 75 percent purity .For this guarantee he manufactures jewellery with 76 percent or even 77 percent purity ie 18.25cts or 18.50 cts purity to maintain hallmarking at 18 ct and 75 percent purity.So ultimately the cost of extra purity above 18ct is reflected in the price.
Though hall marking is done regarding the carat of gold but the prices of gold are determined by the various supplier groups in the physical markets. There is no standard agency which realeses a fixed price.Demand and supply of physical delivery of gold is varying and is not centralised like the mcx.
Different suppliers quote different prices of gold which slightly vary and
depending on from whom you purchase or are in contact with for your supply you furthur quote to the customer.
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