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For Indians, gold has always been an auspicious metal. People widely believe that possessing the precious metal is likely to bring in more fortunes in the future. That’s not all. We also strongly believe in the metal’s wealth creation potential too.

That’s probably why India is currently one of the top countries in terms of consumption of the yellow metal. Like many other Indians, if you’re also interested in including gold as part of your investment portfolio, then it is crucial for you to know what the current gold rate is, wouldn’t you say? And that’s precisely where we come in.

Gold Rate In Trivandrum

If you’re a resident of Trivandrum, Kerala and you wish to purchase gold for maybe an auspicious occasion or simply for investment purposes, you’d probably want to know what today’s gold rate in Trivandrum is. And since the price of gold tends to fluctuate almost every single day, it is all the more important to keep track of its movements. So, here’s what the gold rate today in Trivandrum is.

 

  • 24 carat gold: 10 grams for Rs. 46,990

  • 22 carat gold: 10 grams for Rs. 44,750

 

Today 24 Carat Gold Price per gram in Trivandrum

Widely considered to be the purest form of the precious metal, 24 carat gold is usually used to only make gold bars and coins. Therefore, if you’re interested in purchasing gold in either of these two forms, then you would need to know what the 24 carat gold rate in Trivandrum today is, right? Let’s take a quick peek.

 

  • 24 carat gold: 1 gram for Rs. 4,720

  • 24 carat gold: 8 grams for Rs. 37,760

Today 22 Carat Gold Price per gram in Trivandrum

22 carat gold, on the other hand, is the type of gold that’s preferred by jewellery makers for making ornaments. Although it is not in its purest form, 22 carat gold is more malleable and has better tensile strength. This allows jewellery makers to make ornate designs without compromising on its strength. So, here’s what the 22 carat gold rate in Trivandrum today is.

 

  • 22 carat gold: 1 gram for Rs. 4,495

  • 22 carat gold: 8 grams for Rs. 35,960

GST on Gold in Trivandrum

As you may already know, the Goods and Services Tax (GST) was introduced by the government of India in a bid to streamline the indirect taxation system. The GST replaced several other indirect taxes such as excise duty, VAT, and service tax, among others. Now, considering the fact that gold, especially in its ornamental form, consists of both the product and a service, it was naturally included in the ambit of the GST.

The GST rate on gold jewelry was set at 3%, whereas the making charges on gold jewelry carries a GST rate of 5%. The addition of GST over and above the price of gold has led to a slight increase in the gold rate in Trivandrum. So, if you’re looking to purchase the precious metal in the near future, GST is something you would have to factor in.

Gold and its investment in Trivandrum

Being a city in the state of Kerala, which is widely known to purchase gold for its ornamental value, Trivandrum isn’t an exception. A large percentage of the purchases of the precious metal in the city is in the form of gold jewelry.

That said, there still is a significant percentage of people who purchase gold for investment purposes as well. Individuals who buy gold for wealth creation, tend to purchase the metal in various forms other than physical gold. So, whatever your goal may be, before purchasing gold, it is a good idea to be aware of today’s gold rate in Thiruvananthapuram.

How to Invest in Gold ETFs in Trivandrum

An ETF, also known as an Exchange Traded Fund, is basically a mutual fund that’s bought and sold on stock exchanges. In the case of a gold ETF, the mutual fund in question invests in gold, and the units of the mutual fund are traded on stock exchanges.

Since the underlying asset in a gold ETF is the precious metal, the value of the ETF is dependent on the current price of gold. So, if you’re looking to invest in gold ETFs, then you should keep a keen eye on what the gold price today in Trivandrum is. All said and done, here’s a quick overview of how you can invest in gold ETFs.

 

  1. The first step is to open a demat and trading account with a stock broker.

  2. Once you’ve opened the accounts, log into the trading portal of your stockbroker using your user credentials.

  3. Search for gold ETF options and browse through the entire list.

  4. Choose the gold ETF that you’re most comfortable with.

  5. Place a buy order for the amount of units that you wish to purchase on the trading portal.

  6. Once your order gets executed your gold ETF units will be credited to your demat account directly.

How to Invest in Sovereign Gold Bonds in Trivandrum

Sovereign Gold Bonds (SGBs) are debt instruments that are issued by the government of India. Since they’re basically backed by the government, they’re completely safe and secure. The value of these gold bonds are based on the current price of gold.

So, when the price of gold rises, the value of these gold bonds also go up. In addition to the price appreciation of gold, investors are also offered an interest of up to 2.5% per annum on their investment value. Sounds interesting, doesn’t it? Here’s how you can invest in these bonds.

Sovereign Gold Bonds are sold both electronically and physically. If you wish to purchase them electronically, you would need to have a demat account with you. If you don’t possess a demat account, then you can choose to get them in a physical format as well.

There are two ways through which you can invest in SGBs - through your bank’s internet banking platform or by visiting offices or branches of banks, designated post offices, or the Stock Holding Corporation of India (SHCIL). Alternatively, you can also purchase them through the trading portal of your stockbroker as well.

How to Check the Purity of Gold in Trivandrum?

Just like how it is important to keep yourself updated with respect to the Trivandrum gold rate, it is equally crucial to know how to check the purity of gold. This way, you can ensure that the gold you’re purchasing is of the highest quality. So, let’s take a look at a few methods through which the purity of gold is determined.

  • Magnet Test

This is one of the easiest ways through which you can ascertain the purity of gold. Since gold is a non-ferrous metal, it shouldn’t get attracted to magnets. However, if it does get attracted, then either the gold is impure or fake.

  • BIS Hallmark Test

Hallmarking is the certification of gold and its purity by the Bureau of Indian Standards (BIS). If the gold that you’re purchasing has the BIS Hallmark symbol, you can rest assured of its purity.

  • Machine Test

Almost all major jewelry sellers possess a purity testing machine. This machine can quickly and easily determine if the gold is fake. It can also give you more information on the gold’s purity levels as well.

What is the demand for Gold in Trivandrum?

The demand for gold in India is always at a high. And in a city such as Trivandrum, where people tend to purchase gold in the form of ornaments, the demand is almost always likely to be high. In addition to purchasing gold jewelry, individuals in Trivandrum have also started to invest in gold in other forms as well. Gold ETFs, and Sovereign Gold Bonds (SGBs) are a few of the other investments in gold that people residing in Trivandrum are opting for these days. All of this points towards a steady demand for gold in the city of Trivandrum.

How is the gold rate in Trivandrum determined?

By now, we’ve seen so much about gold rates. But have you ever wondered how the one gram gold rate in Trivandrum is arrived at? Contrary to popular opinion, there are multiple factors that come into play when it comes to determining today’s gold rate in Trivandrum for 1 gram. One of the major factors that influence the rate of gold in the city is demand and supply. When the demand for gold is higher than the supply, the price of gold tends to increase. On the contrary, when the demand for gold drops down, the price of gold decreases. Apart from this, there are a few other factors, which we will see in detail later.

What is the mandatory checklist for buying Gold in Trivandrum?

Purchasing gold is a major financial decision. To make sure that there aren’t any hitches spoiling your experience, it is essential to have a checklist ready. Here’s a checklist that you can follow when you’re out purchasing gold in Trivandrum.

 

  • First things first, bring yourself up to speed on the current Trivandrum gold rate.

  • Don’t forget to account for the impact of GST.

  • Make sure to include making charges in the cost when you’re out to buy gold jewels.

  • Check every gold jewel, bar, or coin, to ensure that it contains the BIS Hallmark symbol.

  • Get a proper GST invoice for every purchase.

Things to Consider before buying Gold in Trivandrum

In addition to the checklist above, there are quite a few other things that you should also consider and keep in mind when purchasing gold in Trivandrum. Here’s a quick look at a few of them.

  • Certification

Only purchase gold that has the requisite BIS Hallmark certification. This way you can be sure of its quality.

  • Level of Purity

As you know, there are two primary levels of purity in gold - 22 carat and 24 carat. 22 carat gold is used to make ornaments, while 24 carat gold is used to make bars and coins.

  • Terms and Conditions

The terms and conditions of purchase tend to vary from one seller to another. Make sure you read through them carefully.

What are the factors that influence Gold Rate in Trivandrum?

As we saw above, here’s a quick look at the various factors that determine the one gram gold rate in Trivandrum.

  • Interest Rates

The interest rates and the price of gold enjoy an inverse relationship with one another. If the interest rates fall, the gold price goes up and vice versa.

  • Government Reserves

Every government, including that of India, maintains gold reserves. When the government sells gold from their reserves, the price of gold goes down and vice versa.

  • Inflation

Inflation figures and the price of gold go hand in hand. Whenever there is an increase in inflation, the gold price goes up due to increased demand. And when inflation goes down, the price of gold tends to also fall.

What are the different places where one can buy gold in Trivandrum?

You will likely not face any dearth of choices when it comes to buying gold in a city like Trivandrum. There are many well established jewellery chains throughout the city who offer gold jewellery, bars, and coins for sale. That’s not all. There are many smaller family-run shops that also sell gold jewelry as well.  

FAQs

  • ✔️What is the meaning of KDM gold?

    KDM is a kind of gold that consists of 92% gold and 8% cadmium alloy.

  • ✔️What is hallmark gold?

    Hallmark gold is simply gold that comes with the Bureau of Indian Standards (BIS) certification.  

  • ✔️What is the rate of GST on gold jewellery?

    The GST rate applicable to gold jewellery is 3%.

  • ✔️What kind of gold is used to make gold jewellery?

    Generally 22-carat gold and 18-carat gold are used to make gold jewellery.  

  • ✔️What is 24-carat gold used for?

    24-carat is the purest form of gold and it is used to make gold coins and bars.

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