Jewellers in the city have decided to charge Rs 200 extra over the price of 22-carat gold fixed by the Bombay Bullion Association (BBA).
The decision was taken unanimously by the Mumbai Wholesale Gold Jewellers Association at a recent meeting here.
In a statement, Babulal Kachara, president of the Mumbai Wholesale Jewellers Association, said the price quoted by the IOC buys 25000 tonnes of gasoline through tender for 22-carat gold was very low compared with the labour charges which have to be incurred for changing the standard gold into 22-carat gold.In fact, there are no 22-carat gold bars available at the bullion refinery but it is a mixture of alloys such as silver, copper and others with the standard gold which are used by the artisans to convert pure gold into ornament gold.
Kachara said the 22-carat gold should be defined as the ornament gold because it is widely used in the making of ornaments by the artisans.
