Gold Rate in Kollam Today

In a city like Kollam, where gold plays a central role in family traditions and investment planning, keeping track of its price is crucial. Whether purchased for weddings, festive celebrations, or as a long-term hedge against inflation, gold holds significant value for residents.

 

Gold prices, however, are not constant. They fluctuate daily due to factors such as global market trends, currency exchange rates, and local demand. These variations cause gold rates to differ across cities.

 

If you reside in Kollam and are considering buying gold, staying informed about the current gold rate in your city is essential. Whether purchasing gold for a special event or as a financial safeguard, tracking today’s gold price in Kollam helps you make well-timed decisions.

Check out the gold price today in Kollam for different weights below.

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹8,339	₹8,289	₹50
10 Gram	₹83,390	₹82,890	₹500
100 Gram	₹833,900	₹828,900	₹5000

Gold price in Kollam with fluctuations in the last few days, is shown below:

Gold price in Kollam with fluctuations in the last few days, is shown below:

Here are some common ways to invest in gold:

Physical Gold

Buying physical gold in the form of jewellery, coins, bars, or ornaments is one of the most traditional ways to invest. The price depends on the purity level, such as 22-Karat or 24-Karat gold, along with making charges and taxes.

Digital Gold

Digital gold allows you to invest in gold online through platforms and apps. It eliminates the need for physical storage, and you can start investing with as little as ₹1, making it a convenient and accessible option.

Gold ETFs

Gold ETFs are units traded on stock exchanges and backed by physical gold. These provide liquidity and ease of trading, making them suitable for investors looking for a flexible and transparent investment.

Gold Mutual Funds

Gold mutual funds invest in gold-related assets, such as mining companies or physical gold. These funds offer diversification and require a relatively small initial investment, making them accessible to many investors.

Sovereign Gold Bonds (SGBs)

SGBs, issued by the Reserve Bank of India (RBI), are a secure and government-backed investment option. They offer periodic interest payments and are an excellent alternative to holding physical gold.

When purchasing gold in Kollam, it’s essential to keep the following factors in mind to make a secure and valuable investment:

Current Gold Rate

Stay informed about today’s gold rate in Kollam to ensure you buy at a fair price and at the right time.

Purity of Gold

Gold is available in different purities, such as 18-Karat, 22-Karat, and 24-Karat. Always check the Karat marking to confirm its authenticity before purchasing.

Trusted Seller

Buy gold from authorised dealers or well-known jewellers in Kollam to guarantee quality and authenticity.

Hallmark Certification

Look for the BIS hallmark on gold items. This certification verifies the purity and includes essential details like a unique identification number.

Additional Costs

Consider making charges, wastage costs, and GST when calculating the total cost of your purchase. These additional charges can significantly impact the final price of your gold investment.

Gold prices in Kollam fluctuate due to several key factors. Here’s what influences them:

• Global Market Trends

International demand, supply levels, and geopolitical events play a significant role in determining gold prices

• Inflation

Rising inflation increases gold’s appeal as a hedge, leading to higher demand and prices

• Currency Exchange Rates

Gold is globally traded in US Dollars, so fluctuations in the Rupee-to-Dollar exchange rate directly impact local gold prices

• Local Demand

Festivals, weddings, and cultural preferences in Kollam can influence demand, causing price fluctuations

• Government Policies

Import duties, taxes, and policies set by the Reserve Bank of India (RBI) play a crucial role in shaping gold prices

Ensuring the purity of gold is essential when making a purchase in Kollam. Here are some widely used methods to determine gold authenticity:

Hallmark Certification

Check for the BIS hallmark, which verifies the purity of gold. This mark includes the BIS logo, Karat level, and a unique Hallmark Unique Identification (HUID) number, ensuring its authenticity.

Density Test

Gold has a distinct density that helps differentiate it from other metals. Comparing an item's density to that of pure gold can reveal potential impurities. Any deviation from the expected density may indicate the presence of other metals.

Magnet Test

Pure gold is non-magnetic. If a gold item is attracted to a magnet, it likely contains other metals, indicating a lower purity level.

Visual Inspection

Pure gold does not tarnish or discolour over time. If you notice any changes in colour, it may suggest the presence of impurities or lower Karat content.

X-ray Fluorescence Testing

This advanced method uses X-ray technology to assess gold’s composition accurately. Many reputed jewellers in Kollam offer this service for precise and reliable evaluation.

The Goods and Services Tax (GST) plays a key role in determining the overall cost of gold in Kollam.

 

Here’s how it affects pricing:

GST on Gold Purchases

A 3% GST is levied on the value of gold at the time of purchase. This additional cost increases the overall price of gold.

GST on Making Charges

A 5% GST is applied to making charges for gold jewellery. This is especially important for intricate designs where craftsmanship costs are higher.

Overall Cost Implication

The combined effect of GST on both gold value and making charges significantly increases the final price of gold jewellery. Buyers in Kollam should factor in these costs while planning their purchases to avoid unexpected expenses.

Gold rates directly influence the loan amount you can secure when applying for a gold loan in Kollam. The loan value is determined based on the current gold price, with lenders offering a percentage of the gold’s market value as the loan amount. 

 

When gold prices rise, the value of the pledged gold increases, allowing borrowers to access higher loan amounts. Conversely, when gold prices fall, the loan amount you can get decreases. Keeping an eye on gold rate fluctuations helps borrowers make informed decisions about when to apply for a gold loan for maximum benefit.