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Gold Rate In Kozhikode
Kozhikode which was earlier called Callicut, and where Vasco Da Gama had landed first in India, is rich in culture and heritage with the strong Keralite influence as well as European inspirations to this beautiful city in Southern India. this beautiful city is home to the natives who are absolutely mesmerized by the thought of gold in their customs as well as daily life. Gold is considered a very strong indicator of standing in the society. For example when it comes to weddings and marriages, a father will define his social standing to others by gifting gold jewellery to his daughter for the wedding that is heavier and higher in quantity than his competition gifted. This is a typical trend that has been continued or ages and hence is difficult to look away from. Let us take a closer look at the gold rates in Kozhikode.
Current Gold Rates In Kozhikode
The current gold rates in Kozhikode, are influenced by both gold prices in India and globally and follow similar trends. As of March, 2016, price of the yellow metal for 22K gold is at Rs. 2,765 while pure gold which is 24K, is at Rs. 2962. This is against the gold prices in India which is only around Rs. 4 to Rs. 10 lesser than the prices in Kozhikode. Hence, the rates are only slightly higher in this city but follows similar price trends. It is important to consider the gold rates in the city against the rates in the nearby cities to get a good deal.
Gold Rate Trend in Kozhikode for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,872 per gram||Rs. 3,025 per gram||Rs.2,895|
|Last day||Rs. 3,025 per gram||Rs. 2,895 per gram||Rs.2,990|
|Highest price||Rs. 3,025 per gram on 30 April.||Rs. 3,035 on 2 May.||Rs.3,050 per gram on 25th to28th June|
|Lowest price||Rs. 2,852 per gram on 4 April.||Rs. 2,885 per gram on 30 May.||Rs.2,895 per gram on 1st to 8th June|
Gold Rate Trend in Kozhikode in April 2016
- A rise in the price of gold was noticed in the month of April.
- A rise of 5.32% was noted with the highest being Rs. 3,025 per gram on the last day of the month.
- There were quite a few fluctuations in the rate of gold during the month.
Gold Rate Trend in Kozhikode in May 2016
- During the month of May, a decline was witnessed in the price of gold.
- This may be attributed to the expectations of rise in interest rates by the U.S.
- A decline of 4.25% was noted in the price of gold from the beginning to the end of the month.
Gold Rate Trend of Kozhikode in June 2016
- Gold traded low at Rs.2,895 at the start of the month as the global market dipped.
- Prices stayed steady through the month of June with a slight incline of 3.28%.
- The highest recorded rate was Rs.3,050 by 25th June as there was a renewed offtake in the domestic market.
Gold Rate Trend in Kozhikode for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,507 per gram||Rs. 2,685 per gram||Rs. 2,872 per gram|
|Last day||Rs. 2,685 per gram||Rs. 2,872 per gram||Rs. 2,872 per gram|
|Highest price||Rs. 2,685 per gram on 31 January.||Rs. 2,872 per gram on 29 February.||Rs. 2,907 per gram on 9 March.|
|Lowest price||Rs. 2,507 per gram on 1 January.||Rs. 2,685 per gram on 1 February.||Rs. 2,822 per gram on 29 March.|
Gold Rate Trend in Kozhikode in January 2016
- Gold traded at Rs. 2,507 per gram at the beginning of the month and increased as the month progressed.
- Although there were minor fluctuations, the opening and closing rates did not have a large difference between them.
- A rise in the prices was the trend observed.
Gold Rate Trend in Kozhikode in February 2016
- A rise of 6.96% was witnessed in the rate of gold during the month of February.
- Wedding season and other necessities for gold could be the reason for the rise.
- Gold traded at Rs. 2,872 per gram on 29th February, which was the highest for the month.
Gold Rate Trend in Kozhikode in March 2016
- During the month of March,there were very minor fluctuations in the rate of gold.
- The highest was observed on 29th of March wherein the rate was Rs. 2,907 per gram.
- There was however no change at the beginning and the end of the month as rates were the same on the 1st of March and 31st of March.
Gold Investment Opportunities In Kozhikode
Kozhikode with its love for gold, both for festivities and as well as form of storing wealth is considered quite popular here. The amount of gold a family holds boils down to the fact that it is straightforward indicator of how prosperous a family is. But besides of holding gold as wealth here are some of the important factors that may give one a clear idea about what the opportunities of investment for gold in Kozhikode are:
Physical Gold: If you are buying gold in Kerala and specifically in Kozhikode, there are an array of options in jewellery to choose from. you also have the option of gold coins, that are quite popular because they come with purity certifications to avoid being cheated on.Besides jewellers in Kozhikode you can also buy gold from banks available at denominations based on your appetite for gold investment. Gold ornaments that are popular here include anklets, chains, earrings, nose rings, amulets and rings that serve dual purposes of investment or wealth and ornamentation. A lot of families that are prosperous might consider Gold statues of gods and goddesses as a form of gift with such demands surging around festivities in the area during Pongal and Diwali. Note, that gold in banks are considered to be a little more expensive. But you get branded gold that comes with purity certifications. Kalyan Jewellers is a well known jewellers all over Kozhikode.
Market Trade: In Kozhikode people also invest in gold through the precious metal markets, with opportunities for trade in the National Commodity, National Multi Commodity Exchange, and Derivatives Exchange as well as the Multi Commodity Exchange. This is perfect for people who are willing to purchase in bullion with a minimum limit for trading at 1 kg. Also, people, inc current times should be aware how gold market functions especially based on the influence it has from global financial cues such as stock market, data releases, etc.
- Also check: Gold Rate In Kerala
Also Check Gold Price in NearBy Cities of Kozhikode
|Gold Rate In Kannur||Gold Rate In Malappuram||Gold Rate In Thrissur|
|Gold Rate In Trivandrum||Gold Rate In Kochi||Gold Rate In Coimbatore|
|Also Know: Silver Rate In Kozhikode|
Read more on Gold
- Auspicious Days to Buy Gold in 2016
- Buying Gold on Onam
- Importance of Gold in Kerala
- Why Investing In Gold Is A Golden Opportunity
- What Do the Markings on Gold Mean?
News About Kozhikode Gold Rate
Gold going downhill
A weak global trend, strong dollar and low demand for gold has made the yellow metal suffer in the past few weeks. That has clearly reflected in the spot gold and gold future rates.
Gold futures for delivery in April 2016 dropped by INR 225 as an equivalent of around 0.79%, to INR 28374 for 10 grams of the yellow metal. Future delivery for June 2016 went down by INR 223 and came to rest at INR 28639 for 10 grams. Gold prices in Singapore fell by 0.23% and came to rest at 1213.40 dollars an ounce.
29th March 2016