Gold Price in Kerala today -
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Kerala

Kerala is a state on the southwestern Malabar Coast of India. The state is also commonly known as “God’s own Country”. The production of pepper and natural rubber contributes significantly to the national output. While India’s love for gold is not a secret, the individuals of Kerala seem to have an unmatched affinity for the treasurable metal. Gold sales spike during the festivals of Onam and Vishu in Kerala due to which the gold rate in Kerala is followed by masses. This state’s economy majorly depends on the emigrants working in foreign countries and essentially in Arab states of the Persian Gulf.

Gold Prices in Kerala for different purity

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Gold Prices in Kerala for last 7 days

Date Gold price 1 gram Gold price 10 gram

Gold Price in Major Cities

City Gold Price Change

Benefits of investing in gold

In its 3000 year history of trade, the price of gold has never dipped below zero. This is a very compelling fact when you pit gold against cash, whose value keeps is in a constant state of flux. This is only one of several reasons to put your gold to good use! Some of the other benefits of investing in gold are:

1) High Yield Returns: Gold is the best choice of investment if one is looking to make a low-risk investment for a high yield return.

2) Demand for Gold: In the wake of gold ETFs and Sovereign Gold bonds, the demand for gold has been constantly increasing.

3) Hedge Function- Gold functions as a hedging instrument against financial market fluctuations. This makes it a safe bet in the face of recession.

4) Liquid Asset- Being a liquid asset that can be transported and stored anywhere, gold can easily be sold or pledged against an instant loan.

5) Authenticity- Gold is a precious metal well known for its purity and value. This makes it easy to recognize high-quality gold which can simply be bought after verifying if the seller is authorized to do so.



How is gold rate determined?

The price of gold in India depends on multiple factors. This includes, but is not limited to the following factors:

1) Gold production

2) Inflation

3) Government's gold reserves

4) Demand and supply of gold in the global commodity market

5) Import rates

6) Interest rates

7) Taxes and levies

8) Local demand. 

As a denizen and fellow gold loan borrower, it is imperative for you to stay updated about the latest gold rate in cityname. It is not unusual to find a little variation between the market gold price and the gold valuation offered by the lender. The difference in price primarily occurs because the lender calculates the average gold price of 22-Karat gold based on the rates from the past thirty days and extrapolates the gold gram rate. Hence, the value of the gold you get depends on the average gold price and the lender's loan to value ratio. As per the recent directive of the RBI, lenders can give loans of up to 90% of the gold's market value till March 31, 2021.

KDM vs Hallmark gold - What's the difference?

The purity and quality of gold is something buyers are always apprehensive of. There are different types of gold that buyers can choose from. Buyers often have a tough time distinguishing between the Hallmark gold and the KDM gold. 

1) Hallmark Gold: Hallmark gold is the type of gold upon which, tests are conducted at assaying centers and is approved for sale by the Bureau of Indian Standards (BIS). Hallmark gold is available in four varieties being 23 Karat, 22 Karat, 21 Karat, and 18 Karat.

2) KDM Gold: KDM gold is a type of gold made combining 8% cadmium with 92% gold. Not only does this tamper with the purity of gold, but it also has certain health risks associated with it because of which the production of this gold has been terminated. 

Effect of GST on Gold Prices.

The implementation of GST has particularly affected the prices of commodities like gold.

Effect of GST on Gold Prices

As per the new tax structure, the GST on gold is set at 3% for both finished and unfinished products, which will be paid by the end consumer.

Apart from this, the tax regime also levies an additional 5% on making charges of gold jewellery. The additional charges have upshot the price of gold as there were no making charges in the previous taxation system. This rate is, however, a revised version which was initially set at 18%. The initial GST on making charges would have affected the prices of the finished products massively since end-consumers had to bear all the expenses. However, the 3% GST, the 10% import duty, and 5% making charges have made the yellow metal’s price increase by 0.75%.

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Kerala
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