Gold Rate Today in Thrissur

The third largest city in Kerala, Thrissur, is the Cultural Capital. It is filled with beautiful temples, like the Vadakkunnathan Temple, the Thiruvambadi Sri Krishna Temple, and the Paramekkavu Temple. The city is also home to the largest church in India — Our Lady of Dolours Syro-Malabar Catholic Basilica, and the oldest mosque in India — Cheraman Juma Masjid.

Given Thrissur's rich religious backdrop, it is no surprise that the city attracts thousands of domestic and international tourists. Consequently, the markets for gold and silk are ever-booming in the town.

Thrissur also plays host to numerous festivals every year. Thrissur Pooram is celebrated in April-May, and Puli Kali is celebrated in August-September. During both these periods and numerous smaller festivals around the year, Thrissur observes a large influx of tourists and, thus, sees an increase in the purchase of gold articles.

How to Invest in Gold in Thrissur

1. Jewellery
   This is still the most preferred method of investing in gold in Thrissur. People are very fond of gold all over the country. The nation sees massive gold consumption during weddings, festive seasons, or gifting purposes. 
2. Coins and Bars
   This is another standard method of investing in physical gold, second to jewellery. You can buy gold coins and bars from any jewellery shop.
3. Digital Gold
   You can now buy digital gold through numerous online platforms like PayTM and PhonePe. The amount of gold you buy gets added to your digital wallet. You can see the value of the gold added to your portfolio and can invest for as low as ₹1.
4. Gold Exchange-Traded Funds (ETFs)
   Gold and silver ETFs have become exceedingly popular in recent times. They are easy to buy, highly liquid and can be added directly to your Demat account. Just like your shares, your gold ETFs can also be stored in dematerialised form in a secured account. These accounts are stored in special depositories and are very safe. Gold and silver ETFs are traded on the stock exchanges and derive their value directly from the precious metals.
5. Gold Mutual Funds
   These funds invest in the shares of companies that operate in the gold sector. This is an indirect method of investing in gold.
6. Sovereign Gold Bonds (SGBs)
   SGBs are launched periodically by the Government of India. They are long-term bonds whose value is secured in gold. These bonds are very safe investment options. They can be redeemed for cash upon maturity.
7. Gold Saving Schemes
   Gold-saving schemes are launched informally by numerous jewellery shops. You can book gold at a specific price and keep making monthly deposits to the jeweller. Once enough credit is added to your account, you can buy gold jewellery or coins for the accumulated value.

Factors Affecting Gold Prices in Thrissur

1. Economic Instability
   When there is economic turmoil, there is a significant negative impact on investment assets. The stock market fluctuates, interest rates keep changing, and uncertainty about future stability exists.
   At times like this, gold comes to the rescue. People crave the stability and security that gold offers and invest in gold. The opposite happens when there is economic stability. It gives people the safety net required to undertake slightly more risky investments.
    
2. Demand and Supply
   During festivals, there is an increase in the demand for gold. And since supply is generally fixed for the year, the effect increases prices. The alternative happens during periods of low demand. There is excess supply, and the price falls.
3. Inflation
   Gold is often used as a hedge or a risk management measure against investment portfolios. Inflation can be a real issue for those who hold a portion of their portfolio in cash or cash-equivalent instruments.
   The price of gold rises during inflation and offsets the loss in the cash component of the portfolio. This common practice of using gold for hedging increases gold prices.
4. Interest Rates
   Over the past few months, the Reserve Bank of India (RBI) has decreased interest rates steeply. This is done to combat inflation in the economy and is beneficial in the long run. In the short term, however, it eats into the returns earned from fixed deposits (FDs).
   Thus, people buy more gold and invest less in FDs when the interest rate is low. The demand for gold increases, and the rate of gold increases as well.
5. Value of the US Dollar
   When the value of the US dollar rises, investors flock to it, leaving behind the safety offered by gold. Rising dollar rates thus result in dips in the price of gold.
6. Import Costs
   India's gold output is low and not enough to satisfy our never-ending consumption of gold. Now more than ever, many Indians are also starting to invest in gold. This is further increasing the country's demand for gold.
   Thus, India has to import most of its gold from other nations. Two-thirds of the total gold imported comes from South Africa. If there are hikes in import duties or additional associated costs, this will increase the gold price in Thrissur.