What affects gold rates in Calicut
The gold rate today in Calicut can change due to movements in the global market, currency exchange rates and local demand. Here are the main factors that influence gold prices:
- International gold prices: A rise or fall in global gold prices can affect rates across India, including Calicut.
- USD-INR exchange rate: Gold is traded globally in US dollars. When the rupee weakens against the dollar, imported gold may become more expensive.
- RBI policy: Changes in interest rates can influence investment choices and demand for gold.
- Local demand: Gold purchases in Kerala often increase during weddings, festivals and other special occasions.
- Global market sentiment: Economic uncertainty and geopolitical tensions can lead investors to seek gold as an asset.
- Inflation: Changes in inflation can affect demand for gold as a store of value.
- Government policies: Changes in import duties, taxes and other regulations can influence the final price of gold.
Understanding these factors can help you make better decisions when buying gold or considering a gold loan. Have eligible gold jewellery at home? Check your gold loan eligibility to understand your potential borrowing amount.
What is the difference between 18K, 22K and 24K gold?
Gold is measured in karats based on its purity. The higher the karat, the greater the amount of pure gold in the item. The choice between 18K, 22K and 24K depends on whether you need gold for jewellery or investment.
- 18K gold contains 75% pure gold. The other metals make it harder and more suitable for many types of jewellery.
- 22K gold contains about 91.6% pure gold. It is widely used for traditional and wedding jewellery.
- 24K gold contains about 99.9% pure gold. It is softer and mainly used for investment products such as coins and bars.
| Parameter | 18K Gold | 22K Gold | 24K Gold |
|---|
| Purity | 75% | 91.6% | 99.9% |
| Strength | Highest | High | Lower |
| Common Use | Diamond jewellery and daily wear jewellery | Traditional jewellery | Investment bars and coins |
| Price | Lowest | Higher | Highest |
How to check gold purity in Calicut
Before buying gold or using it for a gold loan, check its purity to know how much pure gold it contains. You can use the following methods to check its quality:
- BIS hallmark: Look for the BIS hallmark and purity details on hallmarked jewellery.
- Purity mark: Check the number stamped on the gold. Common marks include 750 for 18K, 916 for 22K and 999 for 24K gold.
- Acid test: A jeweller can apply a testing solution to a small sample to assess its purity.
- Electronic testing: Special machines can estimate gold purity by measuring its properties.
- XRF testing: This method uses X-rays to check the metal composition without damaging the jewellery.
- Assay testing: A professional testing centre can analyse the gold to determine its purity more precisely.
For an accurate assessment, take your jewellery to a trusted jeweller or a certified gold testing centre.
How can you calculate the value of your gold?
You can estimate the value of your gold using its weight, purity and the applicable gold rate per gram.
Gold Value = Gold Weight × Gold Rate Per Gram
For example, if you own 50 grams of 22K gold and the applicable rate is Rs. 12,826 per gram:
50 × Rs. 12,826 = Rs. 6,41,300
The estimated market value would be Rs. 6,41,300. This is an approximate market value. The final value considered for a gold loan depends on the applicable valuation process, eligible gold purity and LTV.
Now that you know the estimated value of your gold, check your gold loan eligibility online.
How do gold rates influence gold investments?
The gold price today in Calicut can affect the value of physical gold and investments such as Gold ETFs and Sovereign Gold Bonds (SGBs). Although each option works differently, changes in gold prices can influence their value. Tracking daily rates can help investors make informed choices when buying gold or reviewing their existing investments.
