Business
Interestingly, despite high demand, gold prices per gram in Kerala are often lower than in other parts of the country.
With around 15,000 gold traders and jewelers, the abundant supply in Kerala keeps prices in check by fostering competition among sellers.
By directly importing gold from international markets and bypassing middlemen, many gold traders in Kerala can secure competitive prices and pass the benefits on to consumers.
Lower tax rates on gold in Kerala make it more affordable for buyers compared to other Indian states.
Kerala's gold trade benefits from an efficient supply chain, with numerous gold refineries and skilled artisans ensuring a steady flow of products and stable prices.
The All Kerala Gold and Silver Merchants Association sets daily gold prices in the state, helping to prevent drastic fluctuations and maintain market stability.
As a popular tourist destination, Kerala attracts visitors from around the world, with many purchasing gold as souvenirs or gifts, boosting the state's gold trade.