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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 2017 to June 2017 (per gram of 24 karat gold)

Gold Rate Trend in Thrissur for April 2017

• Gold rates in Thrissur began the month of April on a high, thanks to a drop in US dollar’s exchange rate.
• On the 1st of April, gold was trading at Rs.2,920 per gram.
• As the US market performance was prevalent for much of April’s first week, gold prices saw a considerable increase - with the metal trading as high as Rs.2,950 per gram on the 7th.
• Prices, however, declined to Rs.2,930 per gram on the 9th as the US dollar seemed to strengthen, thereby affecting the trading prices locally.
• The fall in prices didn’t last long as major geopolitical issues involving the US, Syria, and North Korea took hold of the market.
• Due to the aforementioned issue, prices went up to Rs.2,965 per gram on the 12th and went up by Rs.10 the next day to trade at Rs.2,975 per gram.
• Rupee rose by almost 6%, while gold prices increased by 12% during the year, which led to a the metal trading at a cheaper rate in the city.
• Gold prices reached their highest on the 22nd and the 23rd when it was trading at Rs.3,000, thanks to a steadily appreciating rupee.
• Demand for the metal fell towards the last few days of the month, which led to gold ending at Rs.2,935 per gram.
• Despite some falls during the latter half of April, gold prices increased by 0.51% for the month owing to some global and domestic factors.

Gold Rate Trend in Thrissur for May 2017

• The first half of May was relatively sluggish with regards to gold trading prices as several markets flourished, while the US dollar also strengthened.
• On the 1st of May, gold was priced at Rs.2,935 per gram and went further down to Rs.2,855 per gram on the 4th as a result of this.
• Prices fell during the second and third week of May, meanwhile nearing 10-month lows in the international market.
• By the end of the 17th, gold prices had gone down to Rs.2,875 per gram but thanks to a drop in Asian markets, gold prices increased to Rs.2,915 per gram on the 18th.
• Rates remained in the sub-2,900 range and shuffled between Rs.2,915 per gram and 2,925 per gram during from the 23rd to the end of the month.
• On the last days of the month, gold was trading at Rs.2,915 per gram.
• Though there was consistent demand towards the end of May, gold price trends fell by 0.68% in Thrissur.

Gold Price Trend in Thrissur for June 2017

• Gold prices reached a monthly high in the international market at the beginning of the month. However, the same wasn’t reflected in local trading sessions.
• The month began with gold trading at Rs.2,915 per gram but increased as geopolitical concerns regarding North Korea and Syria led to the US markets underperforming.
• By the 8th of the month, gold prices had gone up to Rs.2,945 per gram buoyed by a weak dollar and a strong local demand.
• Rates recorded from the 7th to the 12th, i.e., Rs.2,945 per gram was the highest for the month.
• As the US dollar strengthened, gold prices consolidated towards the second half of the month.
• When the month came to an end, gold was seen trading at Rs.2,930 per gram.
• Gold price trends went up by 0.51% in Thrissur during this month.

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

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 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.