One India one gold rate: Malabar Gold & Diamonds has launched the ‘One Nation One Gold Rate’ initiative. Under this initiative, the company will sell 100% BIS hallmarked and responsive sourced gold at the same price in every state of India. During this time there will be no compromise with the purity and quality of the gold. Malabar is a veteran retail chain of gold and diamond jewellery.
At the international level, gold prices are transparent and gold is charged the same customs duty and tax throughout the world. At the same time, the price of gold is different in different states in India, while gold is mainly sourced from the same designated banks. Different prices of gold in different states do not support consumer interest. Malabar Gold and Diamonds recognized this issue and formulated a uniform pricing policy for the interest of gold buyers in the country.
Will be able to benefit in 120 showrooms
The One India One Gold Rate initiative of Malabar Gold and Diamonds will be implemented in the company’s 120 showrooms in the country. All the existing benefits available on the purchase of gold such as zero percent deduction on the exchange and the offer of the best value on buyback will continue under this earlier also.
Gold demand continues to be high
Ahmed MP, chairman of the Malabar Group, says,
“The Covid-19 pandemic has caused huge turmoil in all regions, but demand for gold remains high. It shows the Indian consumer’s affinity for gold as a measure of savings and wealth creation. Our ‘One India One Gold Rate’ initiative aims to provide a uniform gold rate to consumers without compromising on purity. “
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