Gold has always been a significant investment option for families in Kerala. Whether it’s for weddings, festivals, or as a wealth safeguard, the yellow metal occupies a special place in the hearts and wallets of many Keralites. However, understanding and tracking the gold rate is crucial for making informed purchasing decisions. This article will guide you on where to track today’s gold rate in Kerala for best deals and provide insight into the various factors affecting gold prices.
Why Track the Gold Rate?
Tracking the gold rate helps you buy at the most opportune moment. Given the volatility of gold prices, conscious monitoring enables you to:
- Purchase Gold Economically: Knowing the current rate helps you buy gold when prices are low.
- Investment Decisions: It assists in making timely investments.
- Resale Value: Understanding trends allows you to sell gold when the rate is high, maximizing profit.
Factors Influencing Today’s Gold Rate in Kerala
Before diving into where you can track gold rates, it's important to understand the factors affecting the price. These include:
1. International Market Trends
Kerala’s gold prices are heavily influenced by international market rates. Global economic trends, geopolitical tensions, and the strength of the US dollar significantly affect the rates.
2. Local Demand and Supply
Gold demand during festive seasons and wedding times can push the prices up. Conversely, a slump in demand can lead to lower prices.
3. Currency Exchange Rates
The value of the Indian Rupee against the US Dollar affects gold prices. A weaker Rupee makes gold more expensive and vice versa.
4. Customs Duty and Taxes
Government policies and taxes on gold importation affect the final consumer prices. Changes in customs duty can lead to fluctuating prices.
5. Inflation Rates
High inflation rates generally lead to higher gold prices as the metal is considered a hedge against inflation.
Where to Track Today’s Gold Rate in Kerala
Here’s a comprehensive list of reliable sources to track today gold rate in Kerala:
1. Finance Websites
Several finance-oriented websites provide real-time gold rates. Sites like MoneyControl, Economic Times, and NDTV Profit offer detailed insights into the current gold rate. These websites usually track rates in various cities, including Kerala, and often provide historical data for comparison.
2. Jeweler Websites
Prominent jewelers such as Kalyan Jewellers, Malabar Gold & Diamonds, and Josco Jewellers frequently update their websites with the latest gold rates. Visiting these sites can give you an idea of the rates offered by reputable jewelers in Kerala.
3. Mobile Apps
Numerous mobile applications track gold rates. Apps like Gold Tracker and Gold Price Live provide real-time data, trends, and analysis. Having such an app on your phone can provide you with immediate updates, no matter where you are.
4. News Channels
Television news channels often provide gold price updates, especially during their finance segments. Channels like CNBC TV18 and Bloomberg Quint offer reliable information on the latest trends and rates.
5. Local Newspapers
Local newspapers such as Mathrubhumi and Malayala Manorama also publish daily gold rates. While not as instant as online methods, these papers offer reliable and frequently updated data.
6. Bullion Associations
Joining bullion associations or following them online is another way to stay updated. Associations like the All Kerala Gold and Silver Merchants Association provide accurate daily rates and market insights.
7. Social Media
Social media platforms can also be a handy resource. Many jewelers and financial analysts share regular updates on platforms like Twitter and Facebook. Following these accounts can be another real-time way to track gold prices.
8. Banks
Major banks such as HDFC and ICICI also provide the daily gold rate on their websites and mobile apps. Given their credibility, the information sourced from banks is highly reliable.
Understanding the 1 kg Gold Value
When tracking gold rates, understanding the 1 kg gold value is particularly crucial for bulk purchases or investments. The value of 1 kg of gold can be calculated by multiplying the today’s per gram gold rate by 1,000. For instance, if the rate is 5,000 INR per gram, the 1 kg gold value would be 5,000,000 INR.
The 1 kg gold value is significant for:
- Investors: Those looking to invest heavily in gold.
- Jewelry Retailers: Retailers who buy gold in bulk to create ornaments.
- Precious Metal Traders: Traders dealing in large quantities of gold for resale.
Tips for Best Gold Deals in Kerala
1. Know the Gold Purity
Always be aware of the gold's purity level. Typical jeweler standards are 24K, 22K, and 18K. The purer the gold, the higher the price.
2. Check Making Charges
Apart from the gold rate, making charges can significantly affect the overall cost of jewelry. Different jewelers charge different making fees, so compare to get the best deal.
3. Certifications
Ensure you buy from jewelers who provide a certification of purity, like those from the Bureau of Indian Standards (BIS).
4. Buy During Off-Peak
Buying during off-peak seasons, such as non-festive periods, tends to be cheaper as demand is lower, hence jewelers may offer discounts.
5. Promotions and Offers
Many jewelers offer promotions during festivals or special occasions. Keep an eye out for these to get the best deals.
How to Download Bajaj Finserv App and Check Today Gold Rate in Kerala
Easily download Bajaj Finserv App to manage finances, apply for loans, and access investment tools. The app also helps you check today gold rate in Kerala for informed purchases. With its user-friendly interface and real-time updates, the Bajaj Finserv App simplifies financial planning and ensures you're always up-to-date with market trends.
Conclusion
Tracking today’s gold rate in Kerala is crucial for anyone looking to invest in or purchase gold. By utilizing comprehensive resources such as financial websites, jeweler websites, mobile apps, and news channels, and understanding the 1 kg gold value, you can make informed decisions and snag the best deals. Always keep an eye on market trends, check gold purity, be mindful of making charges and certifications, and try to buy during off-peak times to maximize your investment.
Navigating the gold market in Kerala may seem daunting, but with the right tools and information, you can certainly make the most of your gold purchases. Happy gold hunting!