Gold is an essential commodity in Kerala. It indicates wealth, prosperity, and status. People in Kerala hand down gold from generation to generation and the gold rate per gram in Kerala rises during the festival and wedding seasons. But Kerala also has many active investors who take benefit of the changes in gold prices by investing in different gold investment options. 

 What is Today’s Gold Rate in Kerala?

The current gold rate in Kerala as of 17th November 2024, or the 22-carat gold rate in Kerala today, is ₹0/gm, and the 24-carat gold rate in Kerala is ₹0/gm of 24K gold.

Gold Rates in Kerala For the Last 10 Days

Historical Prices of Gold Rate in Kerala

Final Gold Rates in Kerala:

Final price= weight of gold x rate/gm plus wastage and making charges (10 to 20% approximately) plus GST @ 3% of the purchase price.

Also Read: Steps to Calculate the Gold Price for Jewellery

Gold Vs Fixed Deposits

Keralites prefer to invest in physical gold since gold is an excellent asset. Please take a look for yourself at our Gold Vs Fixed Deposits comparative table.

Modern Concepts in Gold Investments

You can buy gold today in a variety of methods. Take a look at your options.

• Digital gold or E-Gold: Gold over the last ten years has seen a 300% price rise. Due to the COVID-19 pandemic, the stock markets are volatile and unpredictable. Digital gold is an online secure investment where you buy gold online which is 99.99% pure and the gold allocated is under your ownership and stored in insured vaults ready for delivery anytime. 
• Futures contracts mean you buy into the gold delivered at a future date at the present prices.
• Bullion Coins and bars 
• Gold Sovereign Bonds (SGBs) have a fixed 8-year term and provide a 2.5% return rate.
• Gold ETFs are stock market traded units of gold and are the most preferred modern way of buying pure gold.
• Gold stocks/shares in gold production/mining companies
• Mutual Gold Funds where the fund is invested in buying gold at maturity.
• Gold Jewellery
• Gold derivatives deal in larger quantities of gold where it is traded as a commodity on the stock market.

Also Read: What is Gold Standard and How Does it Work?

Here’s a comparison chart of physical gold with the modern gold investment options.

Factors That Affect Gold Rates in Kerala

Several factors are known to affect today’s gold rate in Kerala. The most important ones are

• High demand and low supply positions cause a rise in today’s gold rate in Kerala.
• International gold prices also affect the gold rates in Kerala.
• Market conditions and economic slowdown pushes the gold prices.
• Changes in government policies and import duties can affect domestic gold prices.
• Fluctuating currency values like Rupee rates versus the USD reflect on the current gold rate in Kerala.
• Low deposit interest rates encourage investors to buy more gold, increasing the gold rates.
• The high inflation in India pushes the gold rate in Kerala upwards.

Note that the prices are not just the base value per gram of gold. Instead, it is the total of all these factors acting on the gold values which push the rates upwards or downwards. Typically the festival times and wedding season sees an upwards surge in the 916 gold rate in Kerala today. Though the prices rise and fall daily, you must consider the correct type of gold investment when adding the gold investment as a safety net.

Checklist for Buying Gold in Kerala

Here’s what you need to check before investing in gold.

• Hallmark or BIS Certification: This factor is important as it certifies the quality and purity of gold.
• The daily gold rates: Gold rates vary daily across locations. Today’s gold rate in Kerala can vary even by the moment on the commodities market. This rate is different from the jewellery rate called the 22-carat gold rate in Kerala or used for stock trading and online transactions. Jewellers normally follow the Gold Dealers Association rates. 
• Buy-back terms: Buy-back rates are significant to ensure one’s gold jewellery value does not decrease. Kerala’s jewellery shops assure customers of buyback facilities at the prevalent gold rate in Kerala or an exchange of gold jewellery on a gram-to-gram basis to the latest designs.
• Making and wastage charges: This value is 7-25% of the gold weight when prices are quoted as today’s gold rate in Kerala per gram. Note that jewellery with stones and high alloy content like white gold cost more when you buy and sell for less as the selling price has zero value for the alloy and stones.

24K, 22K and 18K Gold

24K Gold: Its purity is 99.9 per cent, and the colour yellow. 24K gold is available as a bar, coins, etc. and is used in the making of bars, coins, jewellery, gold articles, industrial purposes and medical devices. It is more expensive than 22K gold.

22K Gold: Its purity is 91.67 percent and yellow and has copper added in to make it more malleable. 22K gold is available as coins, bars and jewellery, and is popular in jewellery making. It is less expensive than 24k gold and more costly than 18K gold.

18k Gold:  It is trendy in the jewellery business since it is considered by several to be the best gold for jewellery in terms of malleability, hardness, the value of gold, etc. 18K gold has 75% pure gold in it and 25% Copper.

Also Read: What are the Smartest Ways to Invest in Digital Gold?

Reasons to Invest in Gold

Let us explore the reasons why gold has and will always remain an investment par excellence.

• It has many modern options like digital gold, mutual gold funds, SIPs, ETFs, and more.
• It is an anti-inflation asset and hedges rising prices while offering an 18% growth rate
• Gold helps you save for the future especially if you invest in digital gold which helps you save small and buy big in pure gold.
• Easy to sell, buy and liquidate whether it is online or in the jewellery form.
• Gold requires little or no maintenance. It has also been brought under mandatory BIS certification or hallmarking to protect buyers.
• You can easily pass on gold for generations which is part of Indian traditions.
• You can avail of gold loans where you get 90% of its value as a short term loan from banks against pledging gold jewellery. 
• It makes a good addition to your investment portfolio as it shows a steady price increase and does not suffer from stock market risks.
• No value depreciation or deterioration with time. In fact, it is a status symbol with Keralites investing a substantial part of their savings in gold ornaments.

Digital Gold 

It means gold in electronic form. Many platforms like Khatabook offer digital gold for investors. You can start investing with as little as Rs 10 onwards. Keep saving to buy the gold and store it in a digital locker till encashment by locking in the units of gold. One can sell it from home or even convert it to physical gold at will. For example, Khatabook offers digital gold and even converts it to physical gold on request. They deliver it at your address in tamper-proof packaging.

Trading of Digital Gold

Gold investments can be bought or sold in electronic format. All you need is a mobile phone, a good internet connection, and a platform like Khatabook to buy digital gold. 

The general steps required are

• Enter the gold, its type, and weight in grams.
• Select the payment mode and upload KYC verification documents.
• Make a payment, and the digital gold is instantly reflected in your locker.
• If you need to sell, check today’s gold rate in Kerala and sell your gold without further hassles. 
• When you need to take possession of your gold, ask for home delivery of the physical gold.

Availing Gold Loans

The best part is that physical gold, jewellery, etc., can raise 90% of its value as a secured loan in times of distress. In hard times, you needn’t sell your gold. Just avail of a gold loan. Banks, NBFCs etc., offer these loans at a reasonable interest rate.

Where to Buy Gold in Kerala

Kerala has many jewellery stores of repute. Here are some of them:. 

Conclusion

The gold rate in Kerala fluctuates depending on several factors. When investing in jewellery, always choose BIS marked gold, which has the best resale value. White gold has a higher price than today’s gold rate in Kerala because of higher processing charges. 18k jewellery, whether rose, green, yellow or white, has a lower resale value because to obtain the colour, other metals are added. Make sure you do a lot of research into the gold prices, purity, and gold rate before investing in gold.  Risk tolerance and the reason for investing are prime factors to making any investments.