Gold Rate In Thrissur

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Thrissur, the former capital of the Cochin Kingdom is a thriving city with a population of over 1.9 million people. Popularly known as the cultural capital of Kerala, Thrissur has played a key role in the history of the state, being home to royalty and artists of high calibre. A home to entrepreneurs, it is one of the richest places in South India, and a major hub for jewellery manufacture, with it contributing to most of the gold consumed in the state. The city accounts for over 70% of overall jewellery made in Kerala, providing a livelihood to over 2 lakh people, either directly or indirectly. Given its connection with gold, one can be sure that it accounts for a huge portion of the gold purchased in the state, regardless of the gold rates.

Gold rates in Thrissur could be cheaper than the rates in other cities, on account of the manufacturing industry being here, but the cost of raw gold is primarily determined after taking international prices into account.

Gold price in Thrissur

The cost of gold in Thrissur changes periodically, with minor fluctuations witnessed on a regular basis. The amount an individual pays to purchase gold depends on the purity, with 18 or 22 karat gold being lighter on the pocket compared to 24 karat gold. The demand for gold also has an impact on prices, with low demand leading to lower rates while high demand leads to a rise in costs.

24 karat gold – 24 karat gold is perhaps the purest form of gold one can buy in Thrissur, with it being 99.9% pure gold. This purity makes it desirable as an investment source, offering individuals liquidity if they wish to sell it. Owing to its purity, it cannot be crafted into jewellery, which means that coins and bars are the only way to own it. Individuals looking to purchase 1 gram of 24 karat gold in Thrissur would end up paying Rs 2,974 (as of March 11, 2016), with prices expected to change over time. Looking at the last year, one can see that prices dropped in 2015, when a gram of 24 karat gold could’ve been purchased for as less as Rs 2,500. Since January 2016, prices have been on an upward climb and one can expect a further hike in rates.

22 karat gold – Containing 92% gold, 22 karat gold is a popular option when it comes to making jewellery. Given the fact that Thrissur is a major jewellery hub, most of the gold purchased or sold here is 22 karat. A gram of 22 karat gold costs Rs 2,780 in the city (as of March 11, 2016), closely following 24 karat rate trends. After a lull in 2015, prices have picked up, climbing by over Rs 400 in the first three months of 2016.

Gold Rate Trend in Thrissur for January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,815 per gram	Rs.2,945 per gram	Rs.2,960 per gram
Last day	Rs.2,945 per gram	Rs.2,960 per gram	Rs.2,920 per gram
Highest price	Rs.2,970 per gram from 23rd to 26th January	Rs.2,960 per gram from 18th to 28th	Rs.2,960 per gram from 1st to 13th March
Lowest price	Rs.2,815 per gram from 1st to 3rd January	Rs.2,945 per gram from 1st to 17th	Rs.2,890 per gram from 14th to 21st March
Trend	Incline	Incline	Decline
Change	4.61	0.50%	-1.35%

Gold Rate Trend in Thrissur for January 2017:

• Like other cities in Kerala, Thrissur too saw gold prices increase over the course of January 2017.
• As cash became more readily available in the system, and with the arrival of several South Indian festivals, gold prices seemed to increase over the first two weeks.
• In Thrissur, January began with the lowest gold price for the entire month - Rs.2,815 per gram - which signaled a positive growth.
• Rates, however, fluctuated over the first week as some market factors seemed to bring gold rates down.
• After some falls, gold prices went up to Rs.2,880 per gram by the 10th and again went up to Rs.2,950 as 20th drew to an end.
• Prices seemed to fluctuate again over the last 10 days, despite which gold reached its highest rate for the month i.e., Rs.2,970 per gram on 23rd and 26th respectively.
• January in Thrissur saw gold prices increase by 4.61%.

Gold Rate Trend in Thrissur for February 2017:

• February, in Thrissur, began with gold trading at Rs.2,945 per gram.
• As there was no apparent change in demand, gold prices seemed to continue at the same rate till the 17th of the month,
• This month, despite witnessing a positive growth, saw prices fall slightly over the course of the 28 days.
• The rates, as seen from 1st to the 17th, were the lowest gold prices for the month.
• On 18th, gold prices rose up to Rs.2,960 per gram and remained unchanged till the end of the month on 28th.
• Compared to January’s price trends, February saw gold prices increase by 0.50%

Gold Rate Trend in Thrissur for March 2017:

• March was a terrible period for bullion trading for non-US currencies in the world.
• This was because the Federal Reserve increased the interest rate on its lendings, which caused bullion investors to step away from any gold-related investments.
• The month began with gold trading at Rs.2,960 per gram.
• Thrissur being one of the highest gold-consuming cities, didn’t see demand go down despite a slowdown everywhere else in the country.
• Prices remained unchanged till the 13th as there was not much of a change in demand.
• Overall, gold prices in Thrissur changed only a handful of times but those were enough to bring the price trends down.
• The Keralan city saw gold prices decline by 1.35% for the month of March.

Gold Rate Trend in Thrissur from October to December 2016 (rates per gram for 24 karat gold)

Factor	October	November	December
1st day	Rs.3,115 per gram	Rs.3,055 per gram	Rs.2,905 per gram
Last day	Rs.3,055 per gram	Rs.2,945 per gram	Rs.2,815 per gram
Highest price	Rs.3,115 per gram from 1st to 4th	Rs.3,135 per gram on 9th	Rs.2,905 per gram on 1st and 2nd
Lowest price	Rs.3,020 per gram from 8th to 11th	Rs.2,930 per gram on 25th	Rs.2,745 per gram on 16th
Trend	Decline	Decline	Decline
Change	-1.92%	-3.60%	-3.09%

Gold Rate Trend in Thrissur for October 2016

• When trading began in October, gold was trading at Rs.3,115 per gram, which was the highest rate for the entire month
• Prices, however, fell on 6th due to falling demand to bring gold prices down to Rs.3,055 per gram.
• Gold rates went down again on to Rs.3,020 as domestic demand kept going down.
• Gold prices picked up slightly on 12th to hit Rs.3,030 and went up to Rs.3,040 by the 20th.
• The last 10 days of October didn’t see any major surges with regards to rates to end the month at Rs.3,055 per gram.

Gold Rate Trend in Thrissur for November 2016

• November was by far the worst month for gold industry in 2016 as too many world events played havoc on the metal’s prices.
• Gold rates were largely on the increase for the first 10-15 days but went down significantly over the next few days.
• The 1st began with gold trading at Rs.3,055 per gram and went up to Rs.3,110 per gram by the 5th.
• However, when PM Narendra Modi introduced demonetisation, prices began to fall.
• Prices went down despite the fact Donald Trump’s appointment as US president brought markets crashing around the world.
• At the end of the month, gold rates were down to Rs.2,945 per gram to clock a change of -3.60% with regards to gold rates.

Gold Rate Trend in Thrissur for December 2016

• The last month of 2016 began with gold trading at Rs.2,905 per gram but decreased to hit Rs.2,840 per gram by the 9th.
• On 10th, prices went down to Rs.2,810 per gram and went down further to hit Rs.2,745 per gram on the 16th.
• Gold prices didn’t increase by much as the entire nation went through a massive cash crunch.
• Rates, however, picked up over the last 4 days of December to end the month at Rs.2,815 per gram.
• Overall, Thrissur saw gold prices decline by 3.09% when compared to rates from the previous month.

Gold Rate Trend in Thrissur for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,000 per gram	Rs.3,092 per gram	Rs.3,130 per gram
Last day	Rs.3,092 per gram	Rs.3,130 per gram	Rs.3,135 per gram
Highest price	Rs.3,167 per gram on the 18th and 19th of July	Rs.3,140 per gram from 25th to 30th August	Rs.3,160 per gram on 7th November and on 25th and 26th September
Lowest price	Rs.3,000 per gram on the 1st of July	Rs.3,092 per gram on 1st August	Rs.3,120 per gram on 2nd and 19th September
Trend	Incline	Incline	Incline
Change	+3.06%	+1.23%	+0.16%

Gold Rate Trend of Thrissur in July 2016

• Gold traded at Rs.3,000 per gram on the 1st of July and increased by Rs.120 on the 2nd to hit Rs.3,150 per gram.
• Prices fluctuated until the 17th when they soared to Rs.3,167 per gram – the highest recorded rate in July.
• Even though prices fluctuated during the month, stability was achieved on quite a few number of days.
• Prices were stable at Rs.3,060 between the 23rd and 27th of July, and at Rs.3,092 per gram between the 28th and 31st.
• The overall increase in prices between the first and last day of August was more than 3%.

Gold Rate Trend of Thrissur in August 2016

• The rate of gold per gram on the 1stt of August was recorded at Rs.3,092.
• Prices rose to Rs.3,112 on the 2nd and stayed unchanged until the 5th.
• The highest recorded rate of gold in the month of August was on the 5th when they touched Rs.3,210 per gram.
• Stability was achieved for most parts of the month and the highest rate of gold in the August was recorded between the 25th and 30th when they touched Rs.3,140 per gram.
• The precious metal closed the month trading at Rs.3,130 per gram.

Gold Rate Trend of Thrissur in September 2016

• Gold traded at Rs.3,130 per gram on 1st September.
• Prices remained stable after every incline, and the highest rate in the month was recorded on the 7th and the 25th and 26th when they soared to Rs.3,160 per gram.
• Gold closed the month trading at Rs.3,135 per gram and the overall increase in prices between the first and last day of the month was a mere 0.16%. 

Gold Rate Trend in Thrissur for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
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 April 30.	Rs. 3,025 per gram May 1st to 3rd	Rs.3,050 per gram on 25th to28th June
Lowest Price	Rs. 2,852 per gram on April 4.	Rs. 2,885 per gram on May 30th	Rs.2,895 per gram on 1st - 8th June
Trend	Rising	Decline	Rise
Change	+5.32%	-4.29%	+3.28%

Gold Rate Trend of Thrissur in April 2016

• April experienced a rising trend in gold rates as the jeweller’s strike was called off.
• With the increase in demand, gold rates were driven up to Rs. 3,025 per gram on April 30.
• The increase touched 5.32% by the end of the month.
• The minutes from U.S. Federal Reserve meeting led investors to expect an interest rate hike in the near future.

Gold Rate Trend of Thrissur in May 2016

• The month began with steady gold rates opening at Rs. 3,025 per gram.
• The highest gold rate for the month was Rs. 3,025 per gram May 1st to 3rd
• As the expectations of a U.S. Federal Reserve interest rate hike spread, gold rates started dropping.
• March gold rates ended at Rs. 2,895 per gram, marking a 4.29% decrease.

Gold Rate Trend of Thrissur in June 2016

• Gold rates stagnated through the month of June with a few fluctuations.
• The constant rates are a result of steady domestic demand even though the global markets experienced serious dips in gold rates.
• The highest for the month was recorded at Rs.3,050 per gram on 25th to28th June.
• The trend for this month was a gain of 3.28% as the month ended at Rs.2,990 per gram.

Gold investment avenues in Thrissur

Investing in gold is a time tested tradition, with thousands of people purchasing it every year. Thrissur produces around 90 tonnes of gold jewellery every year, which makes it a major hub for gold lovers. Some of the popular modes to invest in gold in Thrissur are mentioned below.

Over-the-counter – Being a manufacturing hub, one can find a large number of options when it comes to buying gold in the city. Jewellers cater to different budgetary needs, offering a host of products in different designs. Gold bars and coins are other popular choices one can choose from, with banks also offering them.

Market trade – Market trade of gold hasn’t picked up in Thrissur, with most people choosing to buy it the traditional way. For the tech and market savvy resident, the Mumbai Stock Exchange and the National Stock Exchange provide an avenue to buy gold. E-gold, gold futures and ETFs are the options they can choose from.