
Today Gold Rate in Kerala is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Today Gold Rate in Kerala is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
The southernmost State of India– Kerala is not only famed due to its incredible landscape and tourist backdrop but also known for the fondness of its people towards Gold, specifically gold ornaments. As per a leading business journal-commodity online, Kerala is the top consumer of gold in the country.
Apart from being used as a wearable, Gold jewellery can also act as a tool to tide over financial emergencies. There are different ways one can own gold. One can go with a traditional approach which is to buy gold jewellery/ gold coins, but it won’t earn you interest. To earn from your gold investments you can choose gold mutual funds or ETFs, Sovereign gold funds and such tools. Gold is considered one of the most preferred investments not only in Kerala but across India, especially as a hedge against economic crises and inflation. Though there are phases when markets witness a fall in gold prices, it usually doesn’t last for long.
More about gold investment options available in India and how different factors affect current gold rate in Kerala are discussed below:
Gold Rate Today : Hyderabad | Kerala | Mumbai | Delhi | Bangalore | Pune | Kolkata | Chennai
Silver Rate Today : Bangalore | Hyderabad | Delhi | Chennai | Mumbai | Ahmedabad | Jaipur
With the introduction of the GST (Good and services tax), excise duty, VAT has been replaced with the GST of 3% on the price of gold including making charges.
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There are certain factors discussed below that causes the gold rate in Kerala and worldwide to fluctuate:
There are two ways through which an individual can own gold-physical and paper. One can invest in gold through gold jewellery or buy gold coins but if physical storage is an issue then s/he can own gold in the paper form, i.e. gold ETFs and sovereign gold funds, etc. These investment options are discussed below:
One may either reach out to their neighborhood jewellers or buy gold jewellery from online jewellery portals such as bluestone, Caratlane, etc. To save cost, one can participate in gold saving schemes offered by most of the jewellers such as Tanishq, Jos Alukkas, Malabar, etc. Here, the customer needs to make a deposit of a fixed amount every month for the chosen tenure. At the end of the term, jeweller will add a bonus amount which can be in the form of a month’s installment or 75% of that amount.
Gold coins/bars can be bought from jewellers, banks, and now even from ecommerce websites such as Paytm, Amazon, etc. They are available in different denominations such as 1gm, 2 gm, 5gm, 10 gm, etc. which one can choose as per their budget. Their cost differs due to the purity and fineness; it is always recommended to go for 24KT with 999.5 fineness.
Since the units are listed on a stock exchange (BSE/NSE), one needs a demat account to purchase and sell units of a gold ETF on the stock exchange. It also means one can do the transaction in quantities lower than expected in physical jewellery, bars and coins. If you buy mutual funds through online platforms, you would be able to buy units of ETF hassle free as well.
One can buy SGBs from designated banks and post offices after completing your KYC. The value of one bond will represent the price of 1 gm of gold. The minimum one can invest is 1 gm and maximum up to 4Kg in a financial year. It comes with a tenure of eight years with an exit option available from the fifth year.
Different platforms have different minimum requirements. For instance, you can get started with Paytm gold with as low as Rs.1 but the minimum amount on GoldRush is Rs.1,000. Depending on the amount, a gram of gold will be added to your wallet. When prices of gold appreciate, you can sell the accumulated gold and prevailing gold value will be credited to your account.
There are certain things you should know before investing in gold or gold jewellery
One can check the purity of gold through the hallmark sign. Hallmarking is done by the BIS, the governing body which certifies the purity of the gold used in making gold coin/gold jewellery. One must check the following components on the hallmarked gold jewellery/coin (these details are engraved on the jewellery or coin):
For Gold Jewellery
For Gold Coins
Note: From January 15, 2021, it will be mandatory for jewellers to sell only hallmarked 14K, 18K, and 22K jewellery
In case of financial emergency or immediate fund, one can use their gold jewellery as collateral to get a gold loan in Kerala. There are a number of financial institutions such as Muthoot, Manappuram, etc. and various banks which offer gold loans. The gold loan will be sanctioned based on the purity, weight of the gold jewellery and the loan amount requested. The minimum and maximum requirement of loan amount varies from bank to bank. In return, the borrower needs to pay the interest on the loan and until it is paid, the gold will be kept in a secured vault.
London Bullion Market Association (LBMA) manages the London Good Delivery List. It is the only market accreditation accepted across the globe. IBA (ICE Benchmark Administration) publishes the LBMA gold price in US dollars twice daily at 10:30 AM and 3:00 PM UK Time. This serves as a benchmark price for gold producers, investors and central banks worldwide.
In India, the Indian Bullion Jewellers Association (IBJA) takes the international price of the gold as a base and adds applicable taxes. Afterwards, an organization of bullion sellers decides at which rate the gold will be given to the state.
Converting gold ETFs to physical gold is possible only after it exceeds a certain size/amount. Most ETFs allow investors to convert only a minimum of 1kg whereas other ETFs like Motilal Oswal allows investors to redeem units for a minimum of 10 grams of gold. Thus, it varies upon the fund house
Yes, it is safe to invest through Paytm as it is in association with MMTC-PAMP
The total gold price in Kerala is calculated by taking in account the following factors: