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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 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 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|
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 Rate Trend in Thrissur 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. 2,688 per gram on 27th to 28th January||Rs. 2,872 per gram from 26th to 29th February||Rs. 2,907 per gram on 8th March|
|Lowest Price||Rs. 2,507 on 1st to 3rd January||Rs. 2685 per gram on 1st February||Rs. 2,822 per gram on 29th March|
|Change||+ 7.10 %||+6.96%||0%|
Gold Rate Trend of Thrissur in January 2016
- The month experienced moderate changes but prices constantly rising.
- Gold opened in January at Rs. 2,507.
- Demand in the domestic market increased as the offtake from the jewellers was on the rise.
- On January 27th, gold traded at the highest rate at Rs. 2,688 per gram.
- The trend for the month was a rising one indicating 7.10% incline.
Gold Rate Trend of Thrissur in February 2016
- The rising trend from January continued into the month of February.
- Gold rates traded at Rs. 2,685 per gram on February 1st.
- As the demand from the domestic market and the international market poured in, gold rates reached its highest on 26th at Rs. 2,872.
- Prices then stabilized and remained constant for the rest of the month.
- The overall increase for the month was 6.96%.
Gold Rate Trend of Thrissur in March 2016
- The trends from February seeped into March with the prices opening at Rs. 2,872 per gram.
- An all-India jeweller’s strike paved a new trail for gold rates.
- Rates remained constant as there was no demand from the jewellers. Global demand helped gold maintain its rates.
- Gold traded the highest for the month on March 24th at Rs. 2,824.
- Prices at the end of the month dropped back to what it was at the beginning. March gold rates closed at Rs. 2,872 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.
- Also Check: Gold Rate In Kerala
Also Check Gold Price in NearBy Cities of Thrissur
|Gold Rate In Trivandrum||Gold Rate In Kochi||Gold Rate In Kozhikode|
|Gold Rate In Kannur||Gold Rate In Malappuram||Gold Rate In Coimbatore|
Read more on Gold
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- Is Buying Gold a Good Investment in 2016
- Basic Highlights Of The Gold Schemes Launched In 2015
- Gold Rate Trend In India
- How are Gold Rates Determined?