The southernmost State of India – Kerala is a not only famed due to its incredible landscape and tourist backdrop but also known for the fondness of its people towards Gold. Considered to be a great market for gold investors as well as buyer, purchasing and putting on gold ornaments is considered to be a sign of wealth and financial prosperity at the same time.
As per a leading business journal commodity online, Kerala alone contributes over 20% of the gold in terms of annual consumption in India. The state is a flourishing marketplace for more than 5000 jewelers & metal retailers, involving more than 40,000 people as gold craftsmen. Hence, the gold rates in Kerala is a pivotal factor for influencing the future gold in India.
|Date||22K Gold||24K Gold|
|10 Grams||10 Grams|
|19-Sep-17||Rs. 27750||Rs. 29679.1|
|18-Sep-17||Rs. 27950||Rs. 29893.1|
|17-Sep-17||Rs. 28100||Rs. 30053.5|
|16-Sep-17||Rs. 28100||Rs. 30053.5|
|15-Sep-17||Rs. 28100||Rs. 30053.5|
|14-Sep-17||Rs. 28100||Rs. 30053.5|
|13-Sep-17||Rs. 28100||Rs. 30090|
|12-Sep-17||Rs. 28000||Rs. 29946.5|
|11-Sep-17||Rs. 28000||Rs. 29946.5|
|10-Sep-17||Rs. 28400||Rs. 30374.3|
If you plan to purchase gold ornaments in Kerala, you should always check two things- the purity of gold and the gold rate in Kerala. The best way to check the purity of gold is by looking for a BIS (Bureau of Indian Standards) hallmark. BIS hallmark is the mark for the purity of gold and it signifies that government-approved centres have verified the quality of gold used for making the jewellery. People bring a lot of gold from Gulf countries which do not match with the quality of the gold sold in Kerala. Thus it becomes very necessary to check the quality of gold before you buy it.
It is always beneficial to buy only those products that have BIS hallmark engraved on the ornament. It guarantees the best possible quality of gold at current gold price in Kerala. There is huge presence of BIS testing centres in Kerala and getting the product tested before you buy gold jewellery ensures that you won’t be cheated and would get a better resale value on it.
Gold price in Kerala depends largely on the international market. Hence, if prices go up in the international market, Kerala gold rate increases as well. In a similar way, if the gold rate falls in the international market, rate of gold in Kerala also falls.
Gold rate per gram in Kerala also depends on local factors such as festivals and special occasions. People in Kerala have excessive obsession for gold and they buy a huge amount of gold especially on festivals. On every festival, people prefer buying gold jewellery. Gold is also bought in huge numbers during marriage ceremonies. Thus, gold rate in Kerala increases during festivals and the marriage season.
Gold rates also depend on the currency. When rupee gains against dollar, the gold rate in Kerala decreases whereas it increases when rupee falls against dollar in the international market.
Gold Rate Trend in Kerala, Aug 2017
|Trend||Gold Rates (24 Carat)|
|On Aug 1st, 2017||Rs. 2923/gm|
|On Aug 31st, 2017||Rs. 3000/gm|
|Highest Rate during Aug||Rs. 3016/gm|
|Lowest Rate during Aug||Rs. 2880/gm|
|Overall Trend in Aug||Rising|
Gold Rate Trend in Kerala, July 2017
|Trend||Gold Rates (24 Carat)|
|On July 1st, 2017||Rs. 2989/gm|
|On July 31st, 2017||Rs. 2912/gm|
|Highest Rate during July||Rs. 2991/gm|
|Lowest Rate during July||Rs. 2836/gm|
|Overall Trend in July||Decline|
Gold Rate Trend in Kerala, June 2017
|Trend||Gold Rates (24 Carat)|
|On June 1st, 2017||Rs. 2915/gm|
|On June 30th, 2017||Rs. 2930/gm|
|Highest Rate during June||Rs. 2945/gm|
|Lowest Rate during June||Rs. 2800/gm|
|Overall Trend in June||Rising|
Gold Rate Trend in Kerala, May 2017
|Trend||Gold Rates (24 Carat)|
|On May 1st, 2017||Rs. 2935/gm|
|On May 31st, 2017||Rs. 2915/gm|
|Highest Rate during May||Rs. 2935/gm|
|Lowest Rate during May||Rs. 2855/gm|
|Overall Trend in May||Decline|
Gold Rate Trend in Kerala, April 2017
|Trend||Gold Rates (24 Carat)|
|On April 1st, 2017||Rs. 2920/gm|
|On April 30th, 2017||Rs. 2935/gm|
|Highest Rate during April||Rs. 3000/gm|
|Lowest Rate during April||Rs. 2920/gm|
|Overall Trend in April||Rising|
Gold Rate Trend in Kerala, March 2017
|Trend||Gold Rates (24 Carat)|
|On March 1st, 2017||Rs. 2960/gm|
|On March 31st, 2017||Rs. 2920/gm|
|Highest Rate during March||Rs. 2960/gm|
|Lowest Rate during March||Rs. 2860/gm|
|Overall Trend in March||Decline|
Gold is taxable in Kerala and the tax structure is similar to the other parts of India. In case you sell gold after three years of purchasing it, a tax of 20% would be levied on your sale of gold along with the indexation value. Thus, if the indexation comes to be 10% within two years at the time of selling, then you will have to pay only the remaining 10% tax. In case you sell your gold before three years of purchasing it, tax would be levied as per the income tax slab in which you fall. Higher the tax slab, more you will have to pay on your gold.
Kerala is one such place where gold can never face a downfall. As per the current trends, gold sales are slated to rise higher in coming months in Kerala. The World Gold Council has projected a growth rate of 15% worldwide and the environment in Kerala justifies this projection. With the fall in interest rates on deposits in banks, people have switched to investing in Gold. It not only guarantees assured returns but also makes it easy to liquidate whenever required as in case of emergency.
This has had a huge effect on gold rate in Kerala as gold prices have increased in past few months. However, gold prices in Kerala are still on increase because of the huge demand from investors. This would keep on increasing for at least till the end of 2017. However, it may decrease any moment so it is quite advisable to wait a bit before investing all your money in gold.
In the month of July, 22 carat gold started at Rs 27,400 whereas 24 carat gold traded at Rs 29,890 on 1st July. 22 carat gold rate in Kerala fell to Rs 26,700 on 31st July whereas 24 carat gold price in Kerala was Rs 29,127 on the last day of the month. The highest rate of 22 carat gold in July was on 2nd July and the price on the day was Rs 27,420 whereas 24 carat gold rallied at Rs 29,912. The lowest gold rate for 22 carat was Rs 25,900 on 14th July whereas it was Rs 28,363 for 24 carat gold.
During the month of July, gold rates increased in the first week and started to fall in the second week. It reached the lowest point on 14th and then started to stabilise again for the rest of the month. There was an overall drop of 2.55% in the gold rate for both 22 as well as 24 carat gold in the month of July.
Gold rate in Kerala is currently showing a decreasing trend. So in case you want to purchase gold today, you can surely save some money on your purchases. But before purchasing, you should check today’s gold rate in Kerala. It is always good to remain updated with the rates as it helps in negotiating the price. Gold rate today in Kerala may be lower but goldsmiths may charge you more if you are not aware of the gold rate in Kerala today.
However, gold may see a lot of ups and downs in the recent future. So if you want to invest for a longer term, you can invest in gold. However, it is always advisable to not invest the complete capital in a single investment type. Gold prices will surely increase in the upcoming festive season and may rise more in the month of November as it is an auspicious time for marriages. So if you want to buy gold in near future, you may reap huge benefits at the end of the year.
People in Kerala have a lot of gold and at the time of financial emergency, they go for either gold loans or selling their gold ornaments. There are a number of banks and NBFCs that offer gold loan at competitive rates. Many jewellers also buy gold from people but the amount that they offer are not up to the expectations. People also feel attached to some gold ornaments and parting ways from it due to financial needs is a tough task. However, if you opt for gold loan, you can repay the money and get back your ornament.
There are many NBFCs that provide gold loans at low interest rates. You should always check today gold price in Kerala and apply for a loan when today gold rate in Kerala per gram is higher than the previous day and gold rate in Kerala tomorrow is projected to fall. The amount is reimbursed quickly and you can use the money to meet your expenses instantly.
People in Kerala love to invest in gold. But in some cases they get confused as to where they should invest to get maximum benefits. Gold ETF (Exchange Traded Funds) and physical gold are the two options where people can invest in Kerala. Physical gold has many issues like safety, quality, resale value, etc. whereas gold ETFs are not present physically with the buyer. It is present in the digital form. Also, there is no theft and storage issue with the gold ETF.
The liquidity of gold ETF is very high. Getting funds in lieu of your gold ETF is just a few clicks away. People need to go to jewellers or NBFCs to take loans against physical gold. Many banks sell gold but not many banks accept it back. The only advantage that physical gold has over ETF is that loans cannot be taken by keeping it as collateral. ETF is tax efficient and you can use it to save on your taxes. However, if you sell your ETF very early, you will not get huge benefits.
916 KDM gold coins are 22 carat gold that have 91.67% purity in which cadmium was used as the soldering metal for making gold coins. Gold coins have high resale value and they are available at almost all banks and NBFCs (Non-Banking Financial Companies). Almost all NBFCs associated with gold accept these gold coins and provide loans against them as well.
916 22 Carat Gold coins price today in Kerala is similar to that of the gold rate on that day. It is among the purest forms of 22 carat gold available. Moreover, additional charges like making charges, processing charges, service charge, etc. are not levied on 916 KDM gold coins which make them relatively cheaper than the same amount of gold ornament. Also, at the time of reselling, the seller gets the exact amount back thus saving him from the loss incurred if he had sold gold ornaments.
|Location||Gold Price (in Rs) (22 Carat/10 grams)||Gold Price (in Rs) (24 Carat/10 grams)|
The Malayalam community is extremely particular about the standard of gold, both in terms of buying and wearing it. While gold itself is a symbol of prosperity, however when it comes to choose the standard of gold, the people from Kerala mostly prefer only in two carats i.e. 22 carat and 24 carat gold.
Even though it’s the lesser pure form of gold, but due to its high demand in state, the price trends remains almost close to 24 karat gold. The rates of 22 carat gold in Kerala as in December 2016, was 2,700 / 1 gram while the rates of 24 carat was trending near 2,900/ 1 gram. In earlier years (2014), gold prices were trending near Rs. 2805, however due sharp decline thereafter, the gold prices have surged to the lower index and thus impacted the overall pricing. 22 carat gold is more preferred in gold ornament due to their sturdiness and crafts. Hence, it is highly concentrated on the demand created by the individual/retail customers. Any drift in the purchasing behaviors of this class of customer impacts the gold price to certain extent.
The 24 karat gold which is purest form of gold is also traded extensively here. The prices always remain higher as compared to 22 carat gold which is slightly an impure counterpart. As per the price of starting Dec’16 the prices were trending near 2,900/ 1 gram. It too has witnessed a huge surge in prices due various global phenomena of the yellow metal.
Gold is popularly sold in Kerala as bullions, ingots, coins and jewellery. Irrespective of the variance in price of gold anywhere else in the country the demand of gold particularly in rural areas of Kerala is always high. This forms a great market place of people who always buy & sell gold. There are multiple avenues were people of Kerala invests when it comes to gold.
This is the oldest and most preferred way to invest in gold is in Kerala. Physical gold has the only way to invest in gold for centuries and people are more comfortable in doing so. In retail sale the gold is available in the form coins as well as jewelry. People in Kerala are exceptionally traditional about the gold ornaments and hence the small & medium scale retailers are doing extremely along with the large retailers present in the state. The gold jewelry market contributes to the maximum potion of gold sales & is flourishing very well in the state.
Kerala is considered to have the highest number of gold jewelers in country. Some of the top selling variants of gold jewellery sold here are‘Kundan’&‘Filigree’ Apart from Kochi, which is generally called the gold capital of India, the markets of Thrissur in Kerala is one of the major centre of jewellery manufacturing in the Southern India and accounts for more than 3000 large & medium sized manufacturers..Few of the other well known jewelrs present in the state are Joyalukkas, Tribhovandas bhimji Zaveri Malabar Gold Tanishq, and Fashion Gold Mahal.
The Gold Coins/as well as gold bar have been anther preferred destination of people of Kerala when it comes to investing in physical form of gold. The Gold bullions are also as per international rates apart from some well known private bullion dealers Muthoot, Pentagon & Pushpak group etc. Apart from this most of the private/ public sector banks here sells Gold bar/coins. It’s another good option to invest in gold for those who want have long term requirement such as child marriage or for pure investment purpose.
The advantage of investing in bars/coins is your requirement factor comes in to play. One can invest purely as per requirement which is either bars or light weighted coins and is very easily available at any banks and jewellery shops with proper standardization. Irrespective of the time till which this investment is kept , the value of gold remains intact since there is no consumption done on regular basis. However while selling it a discounted price of 5-10% is charged.
Apart from the conventional modes of investing in gold , Tradingin gold is another profitable avenues , wherein in investors can go through options such as spot contracts, futures contracts and exchange-traded funds (ETF). In kerala , Kozhikode and Kannur are eminent destination for the gold traders. The gold ETFs is also traded on the Bombay stock exchange (BSE) as well as other international exchanges.
Gold ETF is an Exchange Traded fund where any individual can invest provided they have a trading cum Demat account. In other words we can say ETF is basically an online version of the physical gold. People can start with minimum investment such as 1 gm value and then can add on investment from time to time. Currently Gold Bees from Benchmark and the Kotak Gold ETF are some of the biggest gold ETF’s in India.