*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Gold Price In Kannur
Kannur is a district situated in ‘God’s own country’ Kerala. Earlier known as Cannanore, it is the largest city in the North Malabar region. It houses Asia’s largest and the world’s third largest Naval academy. The place is also well known for its obsession with gold considering it's a part of a city which also is one of the biggest consumers of gold in India. Purchasing and wearing gold has always been a part of culture and tradition in Kerala. People in Kannur view gold as an investment and not just a commodity. Gold rate in Kannur changes almost everyday even though if it is by a mere margin.
Gold Rate Trend in Kannur for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,806 per gram||Rs.3,964 per gram||Rs.4,074 per gram|
|Last Day||Rs.3,964 per gram||Rs.4,153 per gram||Rs.3,969 per gram|
|Highest Price||Rs.3,964 per gram on 7 January and 31 January||Rs.4,174 per gram on 25 February||Rs.4,242 per gram on 7 and 8 March|
|Lowest Price||Rs.3,806 per gram on 1 and 2 January||Rs.3,927 per gram on 6 and 7 February||Rs.3,885 per gram on 18 and 20 March|
Quarterly Gold Rate in Kannur from January 2020 to March 2020:
- In January, gold opened at Rs.3,806 per gram in Kannur and closed at Rs.3,964 per gram with a high of Rs.3,964 per gram in the first week and the last day of the month while the lowest point was on the first two days of the month at Rs.3,806. The overall trend was an incline of 4.15% through the month. The fluctuation in the rates of gold in January were due to many factors, such as uncertainty over the coronavirus being a pandemic or not, with the World Health Organisation not yet announcing it as such. The eve of the Chinese New Year caused a dip due to the holiday season. However, tensions around the US-Iran conflict and the US-China trade deal relaxed considerably, leading to an upward trend for gold prices in January.
- By February, gold opened at Rs.3,964 per gram and closed at Rs.4,153, with the highest price being Rs.4,174 per gram by the end of the month and the lowest being Rs.3,927 per gram in the first week of the month. There was an overall incline in gold prices of 4.76%. This was in large part due to the coronavirus now becoming a global crisis, hitting stock markets and economies across the world, thus leading to an increased interest in gold as a safe-haven investment which would help tide over the possible tough times ahead. Any dip in prices this month was due to the stock markets looking up and safe-haven investments taking a beating following a monetary policy intervention by China’s central bank. There was also speculation about a possible drug for the coronavirus that resulted in an uptick in the stock market again. However, the forward march of the virus across more countries led to increasing prices of gold overall.
- Compared to the previous months, the month of March saw a decline of –2.25% in gold prices overall. This was due to several world economies taking a hit with an extreme lockdown announced to halt the death march of the coronavirus. There was a virtual standstill in the stock market and in physical trading as well because of this. The highest price of gold in March was Rs.4,242 per gram in the first week while it crashed to the lowest by the third week of the month at Rs.3,885 per gram.
Gold Investments In Kannur
Gold is considered to be more of an investment than a commodity in Kannur. Listed below are some of the most popular type of investments in gold.
- Bullion - Gold bullion bars and coins are usually prefered by individuals who wish to invest a lot of money in gold. People who invest in bullion, usually prefer to start with gold coins rather than gold bars as it is relatively less expensive than gold bars.
- Jewelry - Jewelry is probably the most popular form of gold investment in Kannur. Gold jewelry is not only seen as an investment in Kannur but it is also viewed as a symbol of status. The rate of gold jewelry is not only based on the rate of gold but also includes other charges such as making charges, wastage charges, etc and hence, will be more expensive.
- Market Trade - Though Jewelry is the most popular form of gold investment in Kannur, other investments such as ETFs has gained its own set of followers over the last couple of years. The attractive returns has pushed many people into investing in ETFs over jewelery.
- Also check: Gold Rate In Kerala
Also Check Gold Price in NearBy Cities of Kannur
|Gold Rate In Malappuram||Gold Rate In Thrissur||Gold Rate In Trivandrum|
|Gold Rate In Kochi||Gold Rate In Kozhikode||Gold Rate In Mangalore|
|Also Know: Silver Rate In Kannur|