Gold Rate Today In Kochi: May 10, 2024

Q: Five frequently asked questions about gold hallmarking?

1. What are the three types of hallmark gold in India ? 14K (58.5% urity), 18K (75% purity), and 22K (91.6% purity). 2. Is hallmarking mandatory on gold? Yes, a hallmark stamp is mandatory on gold jewelry since 2021 except in cases where gold’s value is less than two grams. 3. What is HUID number in hallmarking? The hallmark unique identification (HUID) number is a six-digit alphanumeric code of letters and digits, which will be unique on every jewelry. This number can be used for verification and authentication of the jewelry via BIS Care App. 4. What should I do if my jewelry is not hallmarked? One can give their old un-hallmarked jewelry to jewelers to get it hallmarked. 5. Who is responsible for gold hallmarking? Registered gold manufacturers, wholesalers, distributors and retailers are responsible for getting the gold hallmarked.

Q: What is the gold rate in India?

Click here to know the latest gold rates in India today.

Q: How to invest in digital gold?

The various forms of investing in digital gold include buying sovereign gold bonds (SGBs) in a quantity as low as one gram gold. There are gold ETFs on the stock exchanges where every unit of a gold ETF represents one gram of 99.5% pure gold. Also, Google Pay, PhonePe and Paytm offer buying and selling gold digitally for an investment amount as low as INR 1.

Q: How to buy gold jewelry?

Gold jewelry can be purchased from jewelers. Its prices depend on the type of jewelry, purity of gold, its market value, making charges, taxes, etc.

Q: Factors affecting gold price and demand in India?

Like in any other commodity, demand and supply are predominant factors that determine gold’s price. Also, central gold reserves, strength of the U.S. dollar against Indian rupee, inflation, gold production capacity, gold price discovery are key to determining the gold price in India.

Dipen Pradhan

Forbes Staff

Published: May 10, 2024, 9:35am

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.

The price of gold is different across Indian states and cities. Forbes Advisor has put together the gold price of one and 10 grams of 24-Carat and 22-Carat pure gold in Kochi today, as of 9:35 pm.

Gold Rate In Kochi (May 10, 2024)

Today 22 Carat Gold Price in Kochi (Per Gram)

Today 24 Carat Gold Price in Kochi (Per Gram)

Gold Rates in Kochi for the Last 10 Days (Per Gram)

Compare 22K & 24K Gold Rate In Kochi (Yesterday & May 10, 2024)

Weekly Graph of Gold Rate in Kochi (22 Carat gold)

Monthly Graph of Gold Rate in Kochi (24 Carat gold)

Gold Rate In India Today: May 10, 2024

Related: Today’s gold price in India for major cities.

Where to Buy Gold in Kochi?

Physical gold and gold saving schemes

Physical gold can be bought from dealers as well as eCommerce sites. Financial institutions, such as banks and NBFCs, also avail of the facility to buy or invest in gold coins. Gold saving schemes are offered by retailers for purchase of gold upon monthly installment for a specific tenure, and jewelers pay the last installment as a cash incentive.

Sovereign gold bonds

RBI issues SGBs as well as notifies the terms and conditions, calendar for subscription, its rate. The value of one bond is 1 gram of gold. An individual can subscribe to a minimum of 1 gram of gold up to 4 kgs.

Digital gold

The method of buying gold digitally involves various forms of investing including:

Gold exchange traded funds (ETFs): Stock exchanges allow traders to invest in the stock-like mechanism with value based on gold prices and gold bullion. One gold ETF unit is equal to 1 gram of gold and is backed by pure physical gold.

Gold accumulation plan: Mobile wallets as well as Gold Rush plan of Stock Holding Corporation of India offers to buy digital gold that allow customers to buy and accumulate gold safely without any concern or worry.

Where to Sell Gold in Kochi?

Retailers and dealers offer to buy gold from individuals in a certain amount upon verifying the bill of purchase. Loans can also be obtained from banks and NBFCs against gold as collateral. The interest rates on gold loans vary among banks on the basis of factors like weight of the jewelry, value (ranging from 18K to 24K), repayment period, to name a few.

Frequently Asked Questions (FAQs)

Five frequently asked questions about gold hallmarking?

1. What are the three types of hallmark gold in India?
14K (58.5% urity), 18K (75% purity), and 22K (91.6% purity).

2. Is hallmarking mandatory on gold?
Yes, a hallmark stamp is mandatory on gold jewelry since 2021 except in cases where gold’s value is less than two grams.

3. What is HUID number in hallmarking?
The hallmark unique identification (HUID) number is a six-digit alphanumeric code of letters and digits, which will be unique on every jewelry. This number can be used for verification and authentication of the jewelry via BIS Care App.

4. What should I do if my jewelry is not hallmarked?
One can give their old un-hallmarked jewelry to jewelers to get it hallmarked.

5. Who is responsible for gold hallmarking?
Registered gold manufacturers, wholesalers, distributors and retailers are responsible for getting the gold hallmarked.

What is the price of gold in major cities of India?

What is the gold rate in India?

How to invest in digital gold?

How to buy gold jewelry?

Factors affecting gold price and demand in India?

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Dipen Pradhan Forbes Staff

Dipen Pradhan is a Staff Reporter for Forbes Advisor India. He has more than 10 years of experience in journalism. He covers the personal finance beat. When he is not writing, he enjoys documenting the community's ethnic knowledge, and travels to explore rural hotspots.