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Kerala is a well-known tourist destination in India. Kerala is not only famous for its eco-tourism initiatives and beautiful backwaters, but also for its love for gold. For years now, Kerala is considered to be a great market for gold investors and dealers. As per a leading business journal commodity online, Kerala contributes to over 20% of India’s gold consumption which makes it one of the top consumers of gold in the country. As per a Times of India Report published in 2014, 3 gold loan companies together hold around 200 tonnes of the yellow metal in the form of jewellery which makes Kerala one of the most important gold markets not only in India, but also at a global level. Gold rate in Kerala changes every day depending on the international market as well as its demand. One can easily check for the gold rate in Kerala online through a trustworthy website.
Being a state that is heavily involved in the business of Gold, the ever-changing gold rates in Kerala is determined on the basis of the below factors:
Gold rate today in Kerala is determined on the basis of numerous factors with the most important being the global price. As the global gold price rises, the gold rate today in Kerala also rises. For over years now, the dollar has been consistently moving high due to which the gold rate in Kerala is rising high as the US dollar has now become stronger than the Indian rupee. Gold rate today in Kerala is determined by All Kerala Gold and Silver Association, a group of gold merchants that consider the above factors to arrive at a gold rate for a particular day. One can also check for the gold rate today in Kerala at various jewellery stores such as Joyalukkas, Jos Jewellers, Malabar Gold and others.
Gold, the yellow metal is considered to be a great investment option in Kerala. The precious metal is considered to be auspicious for marking the celebration of various festivals and ceremonies. Much like equity, bonds, shares and mutual funds, gold too is considered a great investment option. Investment in gold in Kerala can be made in the below-mentioned avenues:
Buying gold isn’t a rocket science that requires you to follow certain hard and fast rules. However, to make sure you have not been duped and have made a pure purchase, here are a few things that you should check while buying gold in Kerala.
What is the GST impact on gold rate today in Kerala?
Goods and Service Tax was implemented by the Government of India in 2017. Before the implementation of GST, people in Kerala used to pay 5% VAT on gold which has come down to 3%.
When do people in Kerala invest the most in Gold?
People in invest in Gold in Kerala majorly during Onam.
What are the facts about gold jewellery in Kerala?
People in Kerala mostly buy gold jewellery and the gold jewellery market in the city is of around 20 crores. People in Kerala mostly opt for 24K and 22K gold jewellery. Kerala has over 5000 jewellers and over 40,000 gold jewellery artisans. Kerala jewellers sell a range of traditional and modern jewellery.
Why is gold rate today in Kerala different from other cities of India?
Gold rate today in Kerala is different from other cities of India due to taxes prevailing in the city, transportation cost and volume of demand.
What is 24-carat gold rate in Kerala today?
You can check the 24-carat gold rate in Kerala today online or at the jewellery store near you.
What is 8-gram gold price in Kerala?
8-gram gold price depends on the gold rate prevailing for the day in Kerala.