Kozhikode or Calicut, also called as ‘The city of Spices’ is among the top economic contributors to the state of Kerala. Sify.com calculates Today Gold rates in Kozhikode directly from leading jewellers and popular associations. Rates are presented in per gram, 8 grams (Sovereign), 10 grams (Tola) and 100 grams for both 22 and 24 Karat/Carat variants. Sify.com also shows rates in analytical formats such as last 7 days and last 30 days. Rates mentioned on this page are exclusive of making charges and taxes such as GST.
Gold Popularity Meter in Kozhikode:
Portugese explorer Vasco de Gama, the first European explorer to reach India landed near Kozhikode in 1498. Many leading historical travelers have written on the capabilities of the port city of Kozhikode. Kozhikode primarily dabbled in trade of spices. In recent years, service sector and investment in IT and ITeS have slowly gained pace. You should also know the city's other nicknames - City of Truth and City of Sculptures.
Investment community in Kozhikode prefers Gold trading as much as stocks or other instruments. From investment banks to jewellers, a number of avenues for gold investment. A significant population is engaged in business in Kozhikode. Most businesses realize Gold acts as a safe investment asset and a hedge against inflation. Also, many housewives, working class and traders tend to invest in the yellow metal. Vishu, Onam, Diwali, Christmas, Eid, and New Year are major seasons to buy gold. Gold is also purchased during gifting and wedding season too.
How is 24 Karat Gold rate calculated in Kozhikode
Don’t be surprised to know that rates in Kerala are usually on the lower side. While bullion rates have more or less become standardized across India, the cost of 22 Karat jewellery is usually the lowest in South India. This is primarily owing to expat population and gulf-returnees who can legally get a few grams of Gold into India by paying the relevant duties and taxes.
When it comes to calculating the rates in Kozhikode, banks and leading agencies such as jewellery associations follow the international trends. The rates are fixed in line with the prevailing USD-INR rate and the international dollar price of the spot gold price. The LBMA spot is the more relevant price followed for futures trading. To Coming to 24 Karat, both variants of 999 and 995 are popular among buyers. The movement that is higher or lower gold rates are tracked on the basis of major global economic developments and the strength of the Indian Rupee.
Kozhikode 22 Karat Gold rate calculation
The rates for 22 karat/carat gold in the form of jewellery, coins or pendants is dependent upon the rates arrived by leading jewellers and associations. The All Kerala Gold and Silver Merchants Association offers a prescriptive rate, but the prevailing rates can always fluctuate two to three times within a day. It is also possible that many leading jewellers showcase a unique gold rate different than the association rate. Sify.com collates information across the leading jewellers and associations in Kozhikode. Also, many leading jewellers have ways to determine the gold rate at any point of the day. Buyers of gold jewellery should understand that there exist differences in gold rates proposed by jewellers within the same locality.
The reason for difference is simple - the base rate of gold may remain approximately similar, but making charge, wastage, melting charges, and refiner margins constantly differs. Changes in impurities added (Platinum, Palladium, Silver, Nickel, Aluminum, Iron) costs on transportation, logistics, security expenses, changes in business operations, and operating margins are responsible for minor rate-differences at leading jewellers.
Kozhikode: Gold Jewellers & Avenues:
The story of local boy MP Ahammed who followed his family footsteps is well known. Ahammed who initially traded in cardamom ventured into the yellow metal with limited experience. With time, Ahammed and family's small shop measuring 400 sq feet in Calicut joined India’s top-10 jewellers. Ahammed’s enterprise is known as Malabar Gold and Diamonds. As on date, Malabar Gold has over 250 branches spread across India, Gulf, and America.
Also, the story of Koduvally, a small village, 20 kms from Kozhikode is intriguing. A 1-kilometer long road at this village is known for operating the biggest gold ornament shopping centre in the state. Recent news reports find most of the gold arriving via black-market route. This has brought trouble for the local business here. Expect crowds of shoppers and brides-to-be to pick their favorite precious ornaments here.
Popular jewellers in Kozhikode include Lulu Gold, Malabar Gold, Bhima Jewellers, Chemmanur International, Kalyan Jewellers, Apollo Gold, and Vismaya Gold and Diamonds.
Why subscribe to authentic rates:
Investment in Gold or bullion can always safeguard your hard-earned money from inflation. It is advised that each individual keen of building a financial portfolio should allocate 10 to 15 percent of his or her savings in gold and gold-backed assets. However, in these days of market-competition and digitization, getting accurate rates has turned out as a cumbersome task. Even a 10 rupee change in gold rates can result in a huge saving in your financial portfolio.
The gold rates in Kozhikode is a way to enable customers access the latest and authentic gold rates. Having the latest and authentic rates can help buyers plan and even negotiate when it comes to buying and selling of gold and jewellery. Knowing the latest rate also helps while seeking a gold loan. As a reader engagement, Sify talks to several industry veterans and market experts to offer readers latest insights on where gold rates could head to. We request readers to bookmark this page or download Sify Gold rates app to keep a track of the latest and most accurate gold trends across India.
Disclaimer: Sify.com showcases news, analysis and gold rates with the sole objective of financial prosperity for all. Rates mentioned on this page may vary within the same city and readers are hence advised to consult with a registered financial advisor. For any complaints, feedback, opinions or to share experiences write to firstname.lastname@example.org with the subject – Gold / Bullion.