02 October, 2023
Today’s Gold Price in Kerala/Kochi
The price in Kerala & Kochi for 1 Pavan Gold today is INR ₹44,880
|Gram||22 Carat 916 Gold price today||24 Carat Gold price today|
|1 gram Gold Rate in Kerala/Kochi||₹5,470||₹6,134|
|8 gram (or) 1 Pavan Gold Rate in Kerala/Kochi||₹44,880||₹49,072|
|10 gram Gold Rate||₹56,100||₹61,340|
Malayalees Love for Gold
Gold is a sign of prosperity and good wealth for Keralites. Gold is used on all auspicious Malayali occasions. Malayalees obsession of Gold has an undebatable historical and cultural backdrop. According to NSSO, In India, Kerala is the biggest consumer of Gold. For Keralites their marriage is made in gold. A Kerala bride belonging to an upper middle class family wears an average of 320 grams of gold. The monthly per capita spend on gold ornaments in Kerala is around ₹190.
History of Gold in Kerala
The history of Kerala’s association with gold starts about 5000 years ago when the world trade in pepper and spices. There were several trading ports in Kerala and was one of the main hubs for spices. The European traders had no problem in exchanging spices for Gold. The pepper was so precious that it was once called as the black gold.
In those days, the pepper was mainly traded for the yellow metal. Also in the 19th century, the exchange for gold against spice carried well as it was a matter of pride and prestige to own the precious metal. The richest temple in the world, Sree Padmanabhaswamy Temple has a treasure worth $22 billion in golden idols and coins.
Gold as Investment
Gold is considered a very good investment plan and acts as a good asset. Price of gold over the decades have risen sharply. Every Keralite sees gold jewelry as a liquid asset, to mortgage or sell. At times, they use gold as collateral for availing bank loan.
Gold rate Source: All Kerala Gold and Silver Merchants Association