Apart from the price of gold, there is also a making charge. Making charge includes remuneration and vestage.
With the onset of festivals, the jewelery market is returning to dazzle again. People’s confidence in gold has increased further after the Corona crisis and the last one-and-a-half-year rally. Along with Pent Up demand, people are going out for shopping for festivals and weddings but shopping for gold jewelery is not that easy. From this, everything has to be taken care of such as price, design, accuracy and making charge. Today we will focus on making charge as it forms a significant part of the total cost of jewelery and also there is a lot of difference in the charges according to the design.
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Fund for jewelery making charge
Apart from the price of gold, there is also a making charge. Making charge includes remuneration and vestage. Making charge is charged according to the design of the jewelry. Fine and inlaid jewelery attracts a higher making charge. Branded jewelers have the highest making charge. The making charge is charged per gram. The making charge can range from 3 percent to 25 percent. Wastage charge in jewelery is 2-5 per cent.
Weakness in sleep
Gold is showing weakness after yesterday’s boom. Gold appears to be around Rs 50,500 on MCX. There is uncertainty about the relief package in the US. Gold is showing weakness due to recovery in the dollar. Gold and silver are getting support in the increasing cases of corona in Europe.
Softening in silver
Silver is showing pressure from the 1-week high. There is uncertainty about the relief package in the US. Recovery in silver industrial demand is expected. Silver is being supported by continued investment demand. Citi says that silver can go up to $ 40 an ounce in 1 year.
Crude weakness
Crude oil is witnessing weakness for the fourth consecutive day today. Demand concerns are growing in the US and Europe due to increasing cases of corona. Brent prices are close to the $ 42 level. There is a concern about recovery in fuel demand. There are concerns about demand from Corona’s growing cases.
Mixed attitude in metal
Mixed business is taking place in base metals today. Uncertainty over the relief package in the US has put pressure on prices but there is support at lower levels from good Chinese data. China has not changed interest rates. There has been concern about Corona’s second wave in the US and Europe. LME copper is nearing the upper level of 2 years. LME nickel is nearing 11-month highs.
Agri Commodities
Mustard prices are seeing a rise for the 5th consecutive day. Prices on the NCDEX have reached the 5700 level. Mustard continues to grow due to festive demand and limited supply. Apart from this, prices are also being supported by good signals from overseas markets.
Anuj Gupta of Angel Commodities
BUY MCX GOLD DEC AT 50400, SL – 50100, TARGET – 50900
BUY MCX SILVER DEC AT 61700, SL – 61000, TARGET – 63000
BUY MCX CRUDE OIL NOV AT 2950, SL – 2900, TARGET – 3050
SELL MCX COPPER OCT AT 530, SL – 534, TARGET – 524
BUY NCDEX TURMERIC NOV AT 5900, SL – 5800, TARGET – 6050
BUY NCDEX SOYABEAN NOV AT 4220, SL – 4160, TARGET – 4320
BUY NCDEX COCUDAKL DEC AT 1770, SL – 1720, TARGET – 1860
Motilal Oswal’s Kishore Narna Investment Advice
MCX GOLD DEC SELL AT 50650 SL 50850 TGT 50350
MCX SILVER DEC SELL AT 62100 SL 62600 TGT 61300
MCX NAT.GAS OCT BUY AT 207 SL 204 TGT 212
MCX COPPER OCT BUY AT 528 SL 526 TGT 532
MCX NICKEL OCT BUY AT 1145 SL 1139 TGT 1155
