Gold Rate In Kochi

Gold is very sought after in Kochi and is usually bought for investment purposes and as jewellery. Find the latest gold prices in Kochi for 22 karat and 24 karat variants. Track daily gold trends and get detailed analysis of quarterly trends below.
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  • Gold Rate Today ( 18 Mar 2019 )
    ₹ 2,990
    Today's Gold Rate (22K) per gram
    Compare Gold Price (Today & Yesterday)
    Today
    (18 Mar 2019)
    Yesterday
    (17 Mar 2019)
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 2,990 ₹ 2,990 ₹ 0 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 23,920 ₹ 23,920 ₹ 0 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 3,140 ₹ 3,140 ₹ 0 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 25,120 ₹ 25,120 ₹ 0 ↑
    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    18 Mar 2019 ₹ 2,990 ₹ 23,920 ₹ 3,140 ₹ 25,120
    17 Mar 2019 ₹ 2,990 ₹ 23,920 ₹ 3,140 ₹ 25,120
    16 Mar 2019 ₹ 2,975 ₹ 23,800 ₹ 3,124 ₹ 24,992
    15 Mar 2019 ₹ 3,005 ₹ 24,040 ₹ 3,155 ₹ 25,240
    14 Mar 2019 ₹ 2,985 ₹ 23,880 ₹ 3,134 ₹ 25,072
    13 Mar 2019 ₹ 2,985 ₹ 23,880 ₹ 3,134 ₹ 25,072
    12 Mar 2019 ₹ 3,010 ₹ 24,080 ₹ 3,161 ₹ 25,288
    11 Mar 2019 ₹ 3,010 ₹ 24,080 ₹ 3,161 ₹ 25,288
    10 Mar 2019 ₹ 3,010 ₹ 24,080 ₹ 3,161 ₹ 25,288
    09 Mar 2019 ₹ 2,990 ₹ 23,920 ₹ 3,140 ₹ 25,120
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    *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.

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    Gold Rate In Kochi

    Kochi, the second largest city in Kerala has long been a centre for trade and commerce, having been home to travellers for a major portion of the Middle Ages. Constant interaction with outsiders enabled it to grow prosperous, with its spice trade playing a key role. All this growth provided the city with sufficient money, with gold becoming a source to buy and sell goods. This penchant for gold has stayed strong in Kochi, with it accounting for a major portion of gold consumed in the country. Today, gold is viewed as a safe investment, with a number of its residents purchasing it on a regular basis.

    Gold rates in Kochi closely reflect international gold trends, with a number of factors impacting prices. Jewellery accounts for a major portion of gold demand in the city, with coins, bars, ETFs and gold funds being other popular investment options.

    Gold Rate Trend in Kochi for October 2018 to December 2018 (per gram of 24 karat gold)

    Factor October November December
    1st day Rs.2,987 per gram Rs.3,098 per gram Rs.2,966 per gram
    Last day Rs.3,108 per gram Rs.2,977 per gram Rs.3,092 per gram
    Highest price Rs.3,119 per gram on 25 October Rs.3,113 per gram on 5 November Rs.3,108 per gram on 12 December
    Lowest price Rs.2,987 per gram on 1 October Rs.2,977 per gram on 30 November Rs.2,966 per gram on 1 December
    Trend Incline Decline Incline
    Change 4.05% -3.90% 4.24%

    Gold rate trend in Kochi for October 2018

    • In October, due to the fall of the US dollar, gold trends fared well in the market with increased global as well as local demand.
    • Gold opened the month at Rs.2,987 per gram and increased on account of various geopolitical issues in the world such as the ongoing Brexit negotiations and the US-China trade war. This led to a fall in global markets.
    • The price of gold was the highest on 25 October at Rs.3,119 per gram ahead of the festivals of Diwali and Dhanteras, early in November, due to which, demand was high.
    • The yellow metal closed the month at Rs.3,108, resulting in a percentage increase of 4.05.

    Gold rate trend in Kochi for November 2018

    • As the dollar recovered to a great extent, gold prices took a major hit in November. The price of gold decreased throughout the month as the demand decreased amongst local jewellers.
    • Gold opened the month at Rs.3,098 per gram and increased to the monthly high price of Rs.3,113 per gram on 5 November. Gold trends remained strong through the first week of the month due to the festival of Diwali and Dhanteras in the country.
    • After 8 November, gold dipped to Rs.3,019 per gram by the middle of the month. As the value of the rupee decreased against the dollar, import of the metal declined to a great extent thus affecting demand and supply.
    • The month closed with the metal priced at Rs.2,977 per gram with a percentage decline of 3.90.

    Gold rate trend in Kochi for December 2018

    • The declining trend of gold reversed in the month of December as the value of the dollar declined yet again, against other currencies.
    • Gold trading opened the market at Rs.2,966 per gram and increased to Rs.3,108 per gram by the middle of the month due to increased global and local demand.
    • As the US-China trade truce developed, the global markets kept falling resulting in the rupee strengthening against the dollar which contributed to an increase in the import business.
    • Apart from global trends, the wedding season in India also contributed to a great extent in the demand for the metal. Trade closed the month at Rs.3,092 per gram which resulted in a percentage incline of 4.24.

    Gold Rate Trend in Kochi for July 2018 to September 2018 (per gram of 24 karat gold)

    Factor July August September
    1st day Rs.2,951 per gram Rs.2,903 per gram Rs.2,956 per gram
    Last day Rs.2,903 per gram Rs.2,966 per gram Rs.2,987 per gram
    Highest price Rs.2,993 per gram on 11 July Rs.2,966 per gram on 31 August Rs.3,014 per gram on 20, 21, 26 and 27 September
    Lowest price Rs.2,903 per gram on 31 July Rs.2,877 per gram on 4 August Rs.2,945 per gram on 4 September
    Trend Decline Incline Incline
    Change -1.62% 2.17% 1.04%

    Gold rate in Kochi for July 2018

    • When trading for the precious metal commenced on 1 July, gold was priced at Rs.2,951 per gram. The demand for the metal was poor amid weak trends overseas.
    • However, as the demand for the metal from retailers and industrial units increased in the following days, the price of the metal surged.
    • The highest gold rate for the month of July in Kochi was recorded on 11 July when the metal traded at Rs.2,993 per gram.
    • Meanwhile, the value of the US dollar increased compared to a basket of apex currencies. This caused gold rates in Kochi decline.
    • Gold closed at Rs.2,903 per gram on 31 July- the lowest gold rate recorded for the month.
    • Overall, the trend of gold rates in Kochi declined by 1.62% for the month of July.

    Gold rate trend in Kochi for August 2018

    • The precious metal continued to trade at Rs.2,903 per gram when the trading for gold commenced on 01 August. As the demand for the metal remained stable, the price of the metal wasn’t affected on the first day of the month.
    • In the following days, the US released the employment data which indicated positive growth for their economy due to which the value of the US dollar increased and the rate of gold in Kochi declined.
    • The lowest gold rate for the month of July was recorded on 1 August when the price of the metal fell to Rs.2,877 per gram.
    • However, due to political tension, the value of the US dollar started to fall in the following days. This caused gold rates in Kochi to incline.
    • The highest gold rate was recorded on the last day of the month when the metal closed at Rs.2,966 per gram.
    • Though the price of the metal kept fluctuated throughout the month, the overall trend of gold rates in Kochi for the month of August was an incline of 2.17%.

    Gold rate trend in Kochi for September 2018

    • Amid poor trend overseas, gold opened at Rs.2,956 per gram on 01 September.
    • As the demand for the metal from industrial units and local jewellers fell, the price of gold dropped and hit a monthly low of Rs.2,945 per gram on 04 September.
    • However, the price of the metal quickly rebounded and traded at a monthly high of Rs.3,014 per gram on 20, 21, 26 and 27 September.
    • Gold closed at Rs.2,987 per gram in Kochi and recorded an incline of 1.04% for the month of September.

    Gold Rate Trend in Kochi for April 2018 to June 2018 (per gram of 24 karat gold)

    Factor

    April

    May

    June

    1st day

    Rs.2,966 per gram

    Rs.3,050 per gram

    Rs.3,040 per gram

    Last day

    Rs.3,050 per gram

    Rs.3,040 per gram

    Rs.2,972 per gram

    Highest price

    Rs.3,056 per gram on 20-21 & 25-26 April

    Rs.3,071 per gram on 14 & 15 May

    Rs.3,040 per gram on 1 June

    Lowest price

    Rs.2,966 per gram from 1 – 3 April

    Rs.3,019 per gram on 17 & 18 May

    Rs.2,972 per gram on 30 June

    Trend

    Incline

    Decline

    Decline

    Change

    2.83%

    -0.32%

    -2.23%

    Gold Rate Trend in Kochi for April 2018:

    • Trading commenced for the month with gold price in Kochi holding at Rs.2,966 per gram - the lowest recorded monthly figure - on the 1st with poor local demand brought about by weak global cues.
    • The next few weeks saw gold rates recovering with safe-haven demand on the rise amid intensifying geopolitical tensions between the US and North Korea.
    • Gold prices surged to Rs.3,056 per gram on the 25th with strong demand from local industries, jewellers and retailers brought about by positive cues globally. This was also the highest monthly figure recorded in the city.
    • The month ended with gold priced at Rs.3,050 per gram with subdued but steady domestic demand amid favourable market cues overseas.

    Gold Rate Trend in Kochi for May 2018:

    • The second month of Q2 2018 began with gold rate in Kochi opening at Rs.3,050 per gram with domestic markets tracking positive cues overseas.
    • Poor dollar performances amid the losing equity markets led to gold prices surging to Rs.3,071 per gram on the 14th. This was also the highest monthly figure recorded in the city.
    • However, with the US dollar index gaining against other apex currencies, demand for the metal dropped over the next few days. Gold was recorded trading at a monthly low of Rs.3,019 per gram on the 17th amid the weak trend overseas.
    • Demand improved as the month progressed with bullion markets capitalising on the weakening US dollar and equities.
    • Trading concluded for the month with gold priced at Rs.3,040 per gram on the last day and Kochi recorded a decline of 0.32% in rates during the course of the month.

    Gold Rate Trend in Kochi for June 2018:

    • The month of the quarter began with gold price in Kochi holding at Rs.3,040 per gram on the 1st with steady local demand amid the weakened US dollar. This was also the highest monthly figure recorded in the city.
    • Weak global cues coupled with fluctuating markets led to gold rates dropping considerably during the week.
    • Rates dropped to a monthly low of Rs.2,972 per gram on the 30th with local demand flatlined by the poor trend overseas.
    • Poor market trends coupled with subdued domestic demand led to gold rates dropping by 2.23% during the course of the month.

    Gold Rate Trend in Kochi for January 2018 to March 2018 (per gram of 24 karat gold)

    Factor

    January

    February

    March

    1st day

    Rs.2,924 per gram

    Rs.3,040 per gram

    Rs.2,956 per gram

    Last day

    Rs.2,940 per gram

    Rs.3,046 per gram

    Rs.2,966 per gram

    Highest price

    Rs.3,015 per gram on  25 January

    Rs.3,103 per gram on 14 February

    Rs.3,008 per gram on 28 March

    Lowest price

    Rs.2,909 per gram on 5 January

    Rs.3,003 per gram on 8 February

    Rs.2,945 per gram from 16-19  March

    Trend

    Incline

    Incline

    Incline

    Change

    0.54%

    0.19%

    0.33%

    Gold Rate Trend in Kochi for January 2018

    • On 1st January, the gold rate in Kochi stood at Rs.2,924 per gram in the backdrop of a steady domestic demand from local jewellers, retailers and industries.
    • The yellow metal declined to its lowest rate at Rs.2,909 per gram on the 5th amid strengthening of the US dollar as well as due to the decline in demand in the domestic market.
    • During the next couple of weeks, gold prices fluctuated due to uneven demand due to changes in the performances of the USD. Besides, the unsteady equity returns also contributed to the uneven gold rates in Kochi.
    • However, during the fourth week, gold rates spiralled to record its highest price on the 25th of the month. The highest gold rate in Kochi in the month of January stood at Rs.3,015 per gram.
    • Overall, gold rate trend in Kochi during the month inclined by 0.54% as investors held on to safe-haven asset amid inflation concerns in the US.

    Gold Rate Trend in Kochi for February 2018

    • Gold traded at Rs.2,961 per gram on the 1st day of the month, an increase of Rs.61 over the previous day’s price amid a declining US dollar as the central bank meeting led to an increased demand for the precious metal in the market.
    • While the gold price was steady for a couple days, the yellow metal’s rate declined to post its lowest at Rs.2,919 per gram which stood till the 12th of the month. The plunge on the gold rate is attributed to the strengthening of the USD.
    • With an increase in industrial orders and the weakening of the USD, led to an incline in the gold price.
    • Gold prices rose to post its highest at Rs.2,993 on the 14th of the month amid a weak dollar.
    • In conclusion, gold rates in Kochi for February reflected a downward trend at 0.16% due to weak global cues which led to a lower demand for the precious metal in the market.

    Gold Rate Trend in Kochi for March 2018

    • In the backdrop of a downward trend of the yellow metal in February, gold began trading at Rs.2,956 per gram on the 1st of March 2018 in tandem with a firm global trend.
    • During the first two weeks, gold rates remained steady with the domestic bullion markets less impacted by global market trends.
    • However, gold rates plunged to record its lowest at Rs.2,945 per gram on the 16th and it continued to remain with the same rate till the 19th of the month.
    • The decline in gold rates is attributed to a strong US dollar against other emerging currencies in the global market.
    • However, amid the unstable USD and the poor performance of equities led to an increase in safe-haven assets. This led gold rates to increase to Rs.3,008 per gram on 28th of the month, which is also the highest price for the yellow metal for the month.
    • Gold rate trend in Kochi for March 2018 inclined by 0.33% due to a firm overseas trend that increased the demand for the metal during the month.

    Gold Investment Avenues In Kochi

    Residents of Kochi consider gold an ideal investment tool, thanks primarily due to its global demand and ease of purchase. The following investment modes are popular in the city.

    • Over-the-counter – Over-the-counter purchases of gold account for a major chunk of gold purchased in Kochi, with gold jewellery, coins and bullions readily available. Jewellery is perhaps the most popular mode of buying gold, with the city home to some of the biggest jewellers in the country. Gold coins and bullions can be purchased from dealers and banks across the city, with the local price being determined by international trends. Different budgetary requirements can be met in the city, with shops catering to multiple budgets. Gold sales peak during festival season, with Diwali and Onam being good times to purchase it.
    • Market trade – Market trade of gold has gained prominence in the last few years, with Exchange Traded Funds, E-gold and futures contracts providing an opportunity to indulge in trade. Thanks to their good returns and ease of trading, gold ETFs are viewed as safe and simple, with an option to trade them on the Mumbai Stock Exchange. The National Spot Exchange permits the sale and purchase of E-gold in the country. Futures contracts can be a good option for people who are looking to own gold in the future, but are subject to market fluctuations.

    Also Check Gold Price in NearBy Cities of Kochi

    Read more on Gold

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    News About Gold rate in Kochi

    • Gold & Silver Dip On Poor Global Demand

      The price of gold and silver fell due to a drop in demand after a strong showing by equity markets. The possibility of an interest rate hike by the U.S. Federal Reserve was a major reason behind the drop in demand from industry and retailers.

      MCX gold futures fell by 0.17% to trade at Rs.30,172 for 10 grams on 19 March, 2018. Silver MCX also dropped, falling by 0.25% to trade at Rs.38,263 per kg.

      The U.S. Dollar continued to capitalise on positive investor sentiment as markets expected an interest rate hike later in the week.

      19 March 2018

    • Increasing U.S. protectionism concerns cause gold prices to rise

      After the sudden firing of the U.S. secretary of state, Rex Tillerson, the gold prices have risen due to the increasing concerns about the adoption of protectionism policy by the U.S. which would affect penchant for risk globally.

      The price of spot gold rose by 0.12% to $1,327.56 per ounce and at one point of time reached $1,329.22 during the session, its highest value since March 7. For the April delivery, the gold futures rose by 0.09% to $1,328.20 per ounce.

      On 13th March, Donald Trump fired Rex Tillerson due to numerous conflicts and disputes between them over a period of time on Russia, Iran and North Korea. CIA director and Trump loyalist Mike Pompeo has been appointed as the new secretary of state.

      “Pompeo is a supporter of Trump’s trade policy and could help advance his agenda of imposing it on U.S. trading partners ... all this uncertainty and risk aversion leaves gold as a safe haven option,” said OCBC analyst, Barnabas Gan.

      According to Gan, after the firing of Tillerson and replacing him with Pompeo would mean the avoidance of risk strategies in the current market. This leaves gold as the safe option of investment.

      The dollar had recently seen a surge in its value but after the incidents of the white house, the value of the U.S. dollar dipped against all the major currencies. When the dollar is weak, it makes bullion and in such a situation it is used as an alternate form of investment by people who hold other currencies.

      “With the U.S. protectionist rhetoric likely to ring equity market alarm bells, gold should continue to be an ideal hedge in this highly unpredictable environment,” said Stephen Innes, trading head at OANDA. On the contrary, Asian shares improved amidst increasing concern towards U.S. policy of protectionism.

      The expected increase in inflation will be steady as recently recorded data shows a decrease in the gasoline and rent accommodation prices in February which have led to a dip in the U.S. consumer prices.  

      Although if the inflation rate increase is more than the usual, it will elevate expectations for interest rates in the future putting pressure on the weak bullion.  

      The ANZ analysts were quoted in a note saying “the 0.2 percent increase in consumer price index suggests it won’t be enough to spur more rate hikes by the Fed than already expected.”

      According to Reuters analyst, Wang Tao, the spot gold may rise further to a value of $1,334 per ounce as it has already crossed a barrier at $1,327.

      Other precious metals have also seen a rise in prices in recent days. The price of platinum increased by 0.3% to $964.50 per ounce and palladium increased by 0.1% to $991.47 per ounce.   

      16 March 2018

    • Gold Prices Rise As Dollar Weakens

      The price of gold rose on Monday, February 18, 2018 as a weak U.S. Dollar led to increased interest in the yellow metal.

      Spot gold rose by 0.2% to trade at $1,350.51 per ounce on 18 February, 2018. In contrast, gold futures fell by 0.2% to trade at $1,353.10 per ounce.

      The U.S. Dollar fell against global currencies over fears Washington might choose to continue with a weak dollar policy, as other economies also begin an easing of monetary policy.

      Asian share markets rose marginally on Monday as global markets began trading positively after the recent plunges across the world.

      20 February 2018

    • Union Budget 2018 good for bullion industry, say traders

      Indian Bullion and Jewellery Association (IBJA) has said that the 2018 Union Budget is a positive move for the country’s gold sector.

      Speaking about the budget presented by Finance Minister Arun Jaitley, General Secretary of IBJA, Surendra Mehta, stated that a comprehensive policy to offer gold an asset class while also opening trade exchanges for gold is a good move for the industry.

      He further stated that the budget has met all the demands the IBJA had set for the Finance Ministry to meet including opening spot gold exchanges, gold policy, and the amending of the GMS.

      Besides this, Mr.Mehta also spoke positively about the free health facilities and the agri-related funding and rules that were presented in the budget.

      3 February 2018

    • Gold Trading Low For 1 Week Due To High Employment Rate In U.S

      Gold prices continous to reduce after the last fall of 2% due to increase in employment rate in the United States. This indicates a rate hike by the Federal Reserve later this year. As jobs in U.S picked up for second consecutive month and wages simultaneously increased, faster economic growth and high interest rates are expected in the near future. Spot gold was trading low at $1,335.40 an ounce. U.S gold dropped to 0.2 % to $1,341.50 an ounce. Barnabas Gan, OCBC Bank analyst stated that gold prices have fully digested the nonfarm payroll data. According to Wang Tao, technical analyst in Reuter, spot gold may resist up to $1,339 per ounce and may graduate towards the next resistance level of $1,346 per ounce. Apart from the yellow metal, spot silver prices also fell for the last 2 weeks to 0.3 % at $19.60 an ounce.

      9 August 2016

    • Gold Recovers 2% Owing to Weak US Payrolls Data

      Gold prices increased on Friday last week and recovered after settling a three-month low that was recorded a day earlier. A disappointing job report released by the US Labour Department provoked aggressive purchasing action among investors who sought gold as well as other dollar-denominated metals. Non-farm payrolls were up by just 38,000 jobs in May, marking the lowest increase since September 2010. A month-long strike held by employees of Verizon also restrained employment gains, which further reduced payrolls in the information sector by 34,000 jobs. These incidents reduced the US Dollar index.

      8 June 2016

    • Gold Prices Improve As Dollar And Stock Markets Slip

      The price of gold rose on the 17th in the wake of a weakening dollar and stock markets that slipped. The prices rose by 0.36% for spot gold and came up to $ 1,278.06 per ounce, while the price of US gold futures rose by about 0.2% to about $ 1,276.9. As trading began the price did slip a bit as a result of traders taking profit when the stock market seemed to be climbing for a while. The dollar also slipped and was trading at 0.06% lower compared to six other currencies. Even though gold prices have risen by about 20% this year, speculation is that the US Central Bank may increase the short term interest rates.

      18 May 2016

    • Gold Prices Pick up as the Dollar rebounds against the Yen

      Gold prices firmed on May 05, 2016, after three days of losses amidst weaker global equities. Spot gold prices went up by 0.2 per cent to be fixed at $ 1, 281.06 an ounce after dropping about 1.1 per cent in the last three sessions. US Futures gold went up by 0.7 per cent to hit $ 1,283.10. Also, the dollar which had come down to a 15 month low, scaled up on May 4th, bolstered by US factory orders and trade. Gold is sensitive to returns on other assets and interest rates as rising interest rates rise the opportunity cost of holding non yielding bullion.

      6 May 2016

    • Gold Appreciates on the back of Weak US data, Dollar

      Gold was up again on Wednesday as weak US economic data and a weak Dollar helped spur rates. However, rates didn’t improve by much as investors remained cautious ahead of rate review by the US Fed.

      Rates are likely to remain unchanged by the Fed and the main takeaways from the review meeting are likely to be the tone of the announcements and the timing for future rate changes.

      28 April 2016

    • Safe-haven buying boosts demand for gold in UAE

      Demand for gold bullion increased on Monday on the back of a failed bid by OPEC and Non-OPEC producers to freeze oil outputs. The failure by the oil producers to come to an agreement led to tumbling equities and crude prices, sparking an increase in safe-haven demand for gold. Spot gold prices peaked at a session high of $1,239.30 per ounce before stabilising at $1,234 at the close, while Dubai gold prices stayed put at Dh 115 per gram and Dh 149.75 per gram for 18K gold and 24K gold respectively.

      21 April 2016

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