Gold, a universally cherished and sought-after metal, goes beyond being a mere commodity, symbolizing affluence, cultural significance, and a hedge against economic volatility. Kochi, nestled in Kerala, stands as a significant gold market in India. The demand for gold in Kochi hinges on diverse elements: festivities, economic conditions, global trends, and local preferences. Let's delve into an extensive understanding of the gold rate in Kochi, encompassing current prices, karat differences, influencing factors, GST impacts, trends, and adept buying tips.
Gold Price in Kochi for 22K and 24K Gold Purities
22 Carat Gold Price Per Gram in Kochi - (Today & Yesterday)
If you're planning for gold investment, check and compare the 22 carat gold rate in Kochi. Consider taking look at the following information given below:
| Gram | Today | Yesterday | Price Change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 7,213 | ₹ 7,167 | ₹ 46 |
| Gold rate for 10 gram | ₹ 72,130 | ₹ 71,672 | ₹ 458 |
| Gold rate for 12 gram | ₹ 86,556 | ₹ 86,006 | ₹ 550 |
Today 24 Carat Gold Price Per Gram in Kochi - (Today & Yesterday)
Now you can compare the 24K gold rate per gram in Kochi. Check the following table as given below:
| Gram | Today | Yesterday | Price change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 7,875 | ₹ 7,825 | ₹ 50 |
| Gold rate for 10 gram | ₹ 78,745 | ₹ 78,245 | ₹ 500 |
| Gold rate for 12 gram | ₹ 94,494 | ₹ 93,894 | ₹ 600 |
Disclaimer: IIFL Finance Limited (including its associates & affiliates) ("IIFL") makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change and are provided on an as-is basis with no guarantees of completeness, accuracy, usefulness or timeliness and is without any warranties of any kind, express or implied. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. IIFL accepts no liability or responsibility for any errors or omissions in the content stated herein and under no circumstances shall IIFL be liable for any damage, loss, injury or disappointment suffered by any reader.
Historical Gold Rate in Kochi For The Last 10 Days
The past ten days have shown a consistent upward trajectory in gold rates in Kochi, shaped by global trends, rupee exchange fluctuations, local market dynamics, and government impositions. The table below illustrates the gold rate trend in Kochi during this period:
| Day | 22K Pure Gold | 24K Pure Gold |
|---|---|---|
| 29 Oct, 2024 | ₹ 7,213 | ₹ 7,874 |
| 28 Oct, 2024 | ₹ 7,167 | ₹ 7,824 |
| 25 Oct, 2024 | ₹ 7,146 | ₹ 7,801 |
| 24 Oct, 2024 | ₹ 7,167 | ₹ 7,824 |
| 23 Oct, 2024 | ₹ 7,208 | ₹ 7,869 |
| 22 Oct, 2024 | ₹ 7,167 | ₹ 7,825 |
| 21 Oct, 2024 | ₹ 7,164 | ₹ 7,821 |
| 18 Oct, 2024 | ₹ 7,090 | ₹ 7,741 |
| 17 Oct, 2024 | ₹ 7,035 | ₹ 7,681 |
| 16 Oct, 2024 | ₹ 7,012 | ₹ 7,655 |
Monthly and Weekly Trends of Gold Rate in Kochi
This visual representation showcases the gold rate trends over specific durations:
Gold Price Calculator in Kochi
Gold value: ₹ 7,213.00
What is the Current Gold Rate Trend in Kochi?
The daily fluctuation in gold rates makes future predictions challenging. Visualizing the gold rate trend in Kochi aids in understanding its variations.
Importance of Checking Gold Rate Today in Kochi Before Buying
Checking gold rates in Kochi aids in comparing prices and negotiating better deals, avoiding overpayment or extra charges. Moreover, tracking gold price movements helps in strategizing gold purchase or sale.
Factors that Affect the Gold Prices in Kochi
Numerous intricate factors contribute to gold price fluctuations:
- Currency Fluctuations: The gold prices in Kochi are affected by the exchange rate between the Indian rupee and the US dollar.
- Demand and Supply Dynamics: The gold prices change according to the variations in gold demand during festive seasons or economic conditions.
- Interest Rates: The gold demand decreases when the interest rates are higher due to the opportunity cost.
- Local Market Dynamics: The gold pricing is influenced by the jewellery associations, retailers, and local preferences.
- Inflation and Global Conditions: The gold demand and price increase when the economic uncertainties are high, as gold is seen as a safe haven asset.
How is Gold’s purity determined?
The karat system is a usual way to measure the purity of gold in India, which ranges from 1 to 24, where 24 karats mean pure gold. The purity is expressed as a fraction of pure gold to the total amount of metal in the alloy. To verify the purity of gold, Indian jewellers often use a hallmarking system, which is supervised by the Bureau of Indian Standards (BIS). Hallmarks have the BIS logo, karat purity, the jeweller’s identification mark, and the year of hallmarking, giving customers confidence about the declared purity of their gold purchases.
1 Gram Gold Price in Kochi: How is it Calculated?
Knowing how to compute the 1-gram gold price in Kochi today facilitates comparison and smart buying decisions. The purity and weight factor into these calculations:
- Purity Method (Percentage): Gold value = (Gold’s purity x weight x gold rate) / 24
- Karats Method: Gold value = (Gold’s purity x weight x gold rate) / 100
Reasons Why Gold Rates Differ Between Kochi and Other Cities
Gold rates vary due to multiple factors such as international gold price, currency exchange, local taxes, retailer margins, and economic conditions.
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