Last updated on: 8th Mar 2023 06:30 AM
Kochi is a beautiful coastal city located in the state of Kerala. Also known as the 'Queen of the Arabian Sea', it has a long and rich history and is famed for being a hub for the exotic spice trade. In ancient times, Kochi served as an essential trading centre with the Middle East and Europe.
Kerala is home to an ever-evolving investor community that prefers investing in various instruments, including gold. Gold is one of the most preferred commodities in the state, as nearly every occasion is marked by gifting of gold in some form, either jewellery or coins.
A stroll through Kochi's M.G. Road will give a glimpse of some of the finest gold jewellery stores, most of which are usually packed with customers throughout the day.
The rate of gold in Kochi depends on several factors, such as the national and international geo-political situation, the local economy etc. The yellow metal is seen as a safe investment during times of political and economic uncertainty. Hence, many people invest in gold.
You can buy gold in Kochi from various places, such as jewellery shops, bullion dealers, and banks. The price of gold is usually quoted in grams or tolas.
Now that you have an overview of the Kochi gold market let's dive right in and explore the gold rates in the city and more.
GST implementation has increased gold prices in Kochi. Let us see how.
Before GST, gold buyers had to pay a 10% import duty, 1% customs duty, and 1.2% value-added tax (VAT) on their purchases.
In contrast, post-GST, each purchase now attracts a 12.5% import duty and a 3% GST on the total price. In addition, a 5% making charge also applies, taking the costs up.
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹542.30 -1.10 (-0.20%) | ₹542.30 0.00 (0.00%) |
8 grams | ₹4,338.40 -8.80 (-0.20%) | ₹4,338.40 0.00 (0.00%) |
10 grams | ₹5,423.00 -11.00 (-0.20%) | ₹5,423.00 0.00 (0.00%) |
100 grams | ₹54,230.00 -110.00 (-0.20%) | ₹54,230.00 0.00 (0.00%) |
The main difference between 22-Karat and 24-Karat gold is the percentage of impurities present in each type.
24-Karat gold is about 99.9% pure. In other words, it is gold in its purest form. However, 24-Karat is delicate and not ideal for making jewellery.
In contrast, 22-Karat gold, containing about 91.6% pure gold, is widely used in jewellery-making.
You can buy gold in either form. But, 24-Karat is more expensive and is mostly used as an investment option.
However, if you want to buy gold for jewellery, choose 22-Karat gold, as it's more durable than 24-Karat and yet looks just as beautiful.
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,423.00 0.00 (0.00%) | ₹4,971.26 0.00 (0.00%) |
08 Mar 2023 | ₹5,423.00 -11.00 (-0.20%) | ₹4,971.26 -10.08 (-0.17%) |
07 Mar 2023 | ₹5,434.00 0.00 (0.00%) | ₹4,981.35 0.00 (0.00%) |
06 Mar 2023 | ₹5,434.00 0.00 (0.00%) | ₹4,981.35 0.00 (0.00%) |
05 Mar 2023 | ₹5,434.00 0.00 (0.00%) | ₹4,981.35 0.00 (0.00%) |
04 Mar 2023 | ₹5,434.00 0.00 (0.00%) | ₹4,981.35 0.00 (0.00%) |
03 Mar 2023 | ₹5,434.00 16.00 (0.29%) | ₹4,981.35 14.67 (0.25%) |
02 Mar 2023 | ₹5,418.00 16.00 (0.30%) | ₹4,966.68 14.67 (0.25%) |
01 Mar 2023 | ₹5,402.00 10.00 (0.19%) | ₹4,952.01 9.17 (0.16%) |
28 Feb 2023 | ₹5,392.00 -16.00 (-0.30%) | ₹4,942.85 -14.67 (-0.25%) |
Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.
The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.
Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.
Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.
The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.
Many factors can affect the gold prices in Kochi. Some of these include:
How much does a tola of gold weigh?
An old unit of measurement known as tola, also written as tole or tolah, was first used in India and South Asia in the 1800s. 10 grammes of gold make up one tola.
What is a hallmark in the context of gold?
Can I get a gold loan against my gold jewellery?
What is KDM gold?
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.