Gold is in high demand here, especially around festivals and weddings or ceremonies. However, with the continuous fluctuation in gold rates today in Kerala, it's important to stay updated to make informed decisions while buying or selling gold. Here, we will discuss the most profitable ways to invest in gold, tips for buying gold jewellery, the impact of GST, and much more. So stay tuned!
Most Profitable Way to Invest in Gold In Kerala
With the changing gold rates in Kerala, investors should be informed about the most profitable ways to invest.
- Physical Gold: A most popular way to invest in gold is to buy physical gold in jewellery, coins or bars. This offers a tangible asset that can be stored and sold when required. The cost of making charges, wastage charges and taxes may reduce the profitability.
- Gold Exchange-Traded Funds (ETFs): Gold exchange-traded funds (ETFs) are another way to invest in gold. This method of investment offers liquidity and diversification and lower costs compared to physical gold. These are traded on the stock exchange and track the price of gold.
- Gold Mutual Funds: Professional fund managers manage these funds. These funds invest in gold mining, exploration, and refining companies. This method offers diversification, expert management, and higher returns.
It is crucial to stay updated with the current gold rate today in Kerala and conduct thorough research before making any investment decisions. By choosing the most profitable way to invest in gold in Kerala, investors can benefit from the potential of this metal.
Tips for Buying Gold Jewellery in Kerala
Buyers need to be aware of the tips for buying gold jewellery in Kerala to make informed decisions and ensure maximum value for their investment.
- It is important to stay updated with the latest gold rate today in Kerala. The price can vary from day to day, and buyers need to keep a close eye on the trends to get the best deal.
- Check for the hallmark stamp on the jewellery, which is a symbol of its purity and authenticity. The Bureau of Indian Standards (BIS) certifies the quality of gold jewellery. It also assigns a hallmark stamp that certifies the purity of the gold used in the ornament. Buyers should ensure that the hallmark stamp is present.
- Be aware of the making charges and wastage charges, which are added to the cost of gold jewellery. Making charges are the cost of labour and design, while wastage charges refer to the loss of gold that occurs during the jewellery-making process. Buyers should inquire about these charges and negotiate them to ensure maximum value for their investment.
- Always purchase gold jewellery from a reputable jeweller with a track record of selling authentic and high-quality material. Buyers should do their research and read reviews and ratings of the jeweller before making a purchase.
Staying updated with the gold rate today in Kerala, checking for the hallmark stamp, negotiating making and wastage charges and buying from a reputable jeweller are essential steps to ensure a profitable investment in gold jewellery.
Factors that Affect Gold Price in Kerala
The gold rates in Kerala are subject to fluctuations, influenced by a range of factors.
- The global gold market is one of the important factors that affect the gold price in Kerala. Global economic and political events affect the price of gold. Events include interest rate change, inflation and geopolitical factors. Any change in these factors can impact the demand and supply of gold, leading to a change in its price.
- The demand for gold in Kerala is another critical factor affecting its price. Kerala has a high demand for gold, both for personal and commercial purposes, which can influence the gold rate today. The festive and wedding seasons see a surge in demand for gold jewellery, coins and bars, which can drive up the price of gold.
- The local supply of gold also plays a role in determining the gold rate today in Kerala. While Kerala has no gold mines, it is a hub for gold jewellery manufacturing and refining. Disruptions in the supply of raw materials can impact the gold price in Kerala.
- Taxes and regulations also affect the gold price in Kerala. A change in the tax can affect the price of gold as the Goods and Services Tax (GST) on gold purchases. Laws on gold imports and exports can also impact its price.
GST Impact on Gold Price in Kerala
The introduction of GST in India in 2017 has impacted the gold price in Kerala, as the tax rate increased from 1.5% to 3%. Initially, this caused an increase in the gold rate today in Kerala, but the impact has since reduced, and prices have stabilised. Although GST still affects gold prices in Kerala, other factors like international markets and local demand play a bigger role in determining gold rates. Staying informed about these trends is vital for making wise investment decisions.
Conclusion
The gold rate in Kerala is subject to various factors, including international gold markets, local demand and supply, and government regulations. Staying updated with the latest news that impacts gold prices in Kerala is important for making informed investment decisions. Whether you're buying gold jewellery or investing in gold bullion, understanding the gold rate today in Kerala is vital.
Frequently Asked Questions (FAQs)
What are the different choices for Buying Gold in Kerala?
When buying gold in Kerala, you can choose from various options, including jewellery, gold bars, and gold coins.
How much is GST on gold in Kerala?
There is currently a 3% GST on gold and gold-related jewellery in Kerala.
Why should check the daily Gold price in Kerala?
Checking the daily gold price in Kerala is important if you are planning to buy or sell gold. The price of gold can often vary, so keeping yourself updated about the price can help you make educated decisions about when to buy or sell gold.
