Gold Rate In Kerala

Kerala, known for its natural beauty and humble people has always witnessed substantial consumption of gold in various forms and patterns. The state sees a heavy demand for gold especially during festive seasons and during marriages or naming ceremonies. Malayalees or the people of Kerala would travel frequently to the Gulf to bring back substantial quantities of gold.

We all know that gold is a precious commodity and it makes for a good investment option especially for those looking at long term returns from their investment. Gold prices keep fluctuating based on a range of factors including seasonal demand, the strength of the US Dollar etc.

How to invest in gold in Kerala?

Here are some of the ways of investing in gold in Kerala:

• Jewellery - The traditional form of investing in gold is by buying jewellery or gold ornaments. However, these days people prefer other options like bars, gold coins or even digital forms like Gold Sovereign Bonds or Gold ETFs. The latter is especially preferred when trying to save on making charges of gold.
• Gold coins or bars - Gold coins and bars are always better investment formats as compared to jewellery since one can save on making charges. It is advisable to buy gold bars and coins from reputed jewellers or banks.
• Gold ETF: Gold Exchange Traded Funds or ETFs are a form of mutual fund that invests in gold. The units of such mutual fund schemes are listed on stock exchanges.

Additional read – Best gold loans in Cochin

How to sell gold in Kerala?

Since gold offers sufficient liquidity, it can be easily and instantly turned into cash when needed. Often, people prefer to sell gold at the same shop from which it is bought to ensure a smooth transaction and avoid any fraudulent deals.

What are the factors affecting gold prices in Kerala?

Gold prices are affected by many factors. Mentioned here are some of the important factors to note:

• Inflation: Gold can have a significant value while offsetting inflation in case of market fluctuations. To offset inflation, people invest in gold. This increases the price in domestic and international markets.
• Government gold reserves: RBI, the central bank of India, holds currency and gold reserves since every unit of currency must be backed up by gold reserves. In case of an increase in gold reserves, there is an increased inflow of cash in the market. This affects gold prices.
• Jewellery: Gold jewellery and ornaments are part of most Indian households. These contribute significantly to increasing demand and supply of gold, especially in festive seasons as well as wedding seasons.

Recommended read – Silver rates in Kerala

How do gold rates in Kerala differ?

Kerala is known to have one of the lowest gold rates in the country. People from across the country often visit the state to buy gold jewellery from Kerala. Experts often advise buyers to buy the precious metal from the state. While buying gold from Kerala, there are several factors to be considered. Listed here are some of them:

• It is important to note that gold rates differ across cities and states. Therefore, one must ensure to check the ongoing prices of gold in the specific state before buying it.
• Many jewellery stores in Kerala may apply different gold rates at different times. Therefore, always enquire before making a purchase. It is a good idea to always call and check.
• Seeing and determining whether the gold is hallmarked is another important factor. This helps in being sure about the quality of gold.

All these points can help investors in making the right purchase and also timing the purchase of gold appropriately.

Conclusion

Kerala has numerous jewellery shops across many cities, including Cochin, Thiruvanthapuram, Calicut, etc. Even smaller towns across the state have many jewellery shops. People in the state can buy gold from some of the popular shops include Malabar Gold, Joy Alukkas, Jos Alukkas, etc. Investors can also trade in gold through the state’s stock exchanges.

FAQs of Gold Rate today in Kerala