Relief for jewellery lovers as gold prices in state decline slightly 

THIRUVANANTHAPURAM: Gold rates witnessed a slight decline on Tuesday. Rs 240 was decreased for one sovereign gold. The present market rate of one soverign of 22 carat gold is Rs 95,400, and for one gram of 22 carat gold is Rs 11,925.
Around one lakh rupees need to be paid today for one sovereign of gold, including 5% making charge, 3% GST and the hallmark charge. The rate of one gram of 18 carat gold is Rs 9805. Meantime, the price of silver stays consistent at Rs 190 for one gram and Rs 190,000 for one kilogram.
India is the largest gold consumer in the world. Tons of gold are imported to India every year. Therefore, even the slightest movements in the international market will reflect in India. It is not necessary for the gold rates to decline in India when the international market rate for gold declines. The factors, including the value of rupee, local requirement and import duty of gold, are crucial in deciding the market rate of gold in India.
The investors are attracted towards gold as the Federal Reserve, the central bank in America, is delaying the reduction of the main interest rate. Meantime, if the interest rate is reduced in December, then the gold rate will fall, say analysts. Many central banks also slowed down in purchasing gold.