Gold rate in Kochi
gold rate in kochi

24K Gold/ 10gm
56,280.00
0.00(0.00%)
22K Gold/ 10gm
53,600.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 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.

22K & 24K Gold Rates Per Gram in Kochi

24K
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GramYesterdayToday
1gm
5,628.00
0.00 (0.00%)
5,628.00
0.00 (0.00%)
8gm
45,024.00
0.00 (0.00%)
45,024.00
0.00 (0.00%)
10gm
56,280.00
0.00 (0.00%)
56,280.00
0.00 (0.00%)
100gm
5,62,800.00
0.00 (0.00%)
5,62,800.00
0.00 (0.00%)

Factors Affecting the Gold Prices in Kochi

Many factors can affect the gold prices in Kochi. Some of these include:

  • Demand and Supply
    Many factors can affect the demand for gold. But, if the demand for gold is high, the prices will increase. For instance, during weddings and festivals, jewellers typically sell gold at hiked rates, as people tend to buy more gold in such times. 
    Similarly, when the supply of gold is low, prices will likely go up. 
  • Value of the US Dollar
    International gold trade is made in US Dollars. Hence, if the Dollar weakens against the Indian Rupee, the price of gold will increase.
  • Interest Rates
    Interest rates share an inverse relationship with gold prices. For instance, when interest rates are low, people may not earn the expected investment returns. As a result, they invest in gold. With this increase in demand, gold rates also rise.
    Similarly, higher interest rates may decrease the price of gold as people invest in other assets. 
  • Inflation
    Gold prices are believed to remain stable even during long inflationary periods. In other words, gold acts as a hedge against inflation. Hence, people tend to accumulate more gold during such times, shooting up the demand and increasing the prices.
  • Geopolitical Tensions
    Geopolitical tensions can increase the demand for gold as people see gold as a safe asset to invest in, even when the market turns volatile. 

Historical gold rates in Kochi in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,628.00
0.00 (0.00%)
5,360.00
0.00 (0.00%)
03 Feb 2023
5,628.00
0.00 (0.00%)
5,360.00
0.00 (0.00%)
02 Feb 2023
5,628.00
89.00 (1.61%)
5,360.00
85.00 (1.62%)
01 Feb 2023
5,539.00
26.00 (0.48%)
5,275.00
25.00 (0.48%)
31 Jan 2023
5,513.00
-15.00 (-0.27%)
5,250.00
-15.00 (-0.28%)
30 Jan 2023
5,528.00
0.00 (0.00%)
5,265.00
0.00 (0.00%)
29 Jan 2023
5,528.00
0.00 (0.00%)
5,265.00
0.00 (0.00%)
28 Jan 2023
5,528.00
15.00 (0.28%)
5,265.00
15.00 (0.29%)
27 Jan 2023
5,513.00
-63.00 (-1.12%)
5,250.00
-60.00 (-1.12%)
26 Jan 2023
5,576.00
42.00 (0.76%)
5,310.00
40.00 (0.76%)

How Does GST Impact Gold Rates in Kochi?

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.

Weekly & monthly gold rate in Kochi
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

22-Karats vs 24-Karat Gold: Which to Buy?

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.

Trend of Gold rates in Kochi

1 gram
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Day24K Gold22K Gold
01 February 202355395275
07 February 202300
Highest56285360
Lowest55395275

How is the Purity of Gold Evaluated in Kochi?

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.

  1. BIS Mark

    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.

  2. Karat

    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.

  3. Jewellers Identification Mark

    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.

FAQs of Gold price in Kochi

How much does a tola of gold weigh?

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What is a hallmark in the context of gold?

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Can I get a gold loan against my gold jewellery?

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What is KDM gold?

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