look news india
The price of gold varies in different places in the world. You cannot buy as much gold as you want from there, you can buy limited quantity of gold and bring it to India. Talking about India, gold prices in India differ in different states and cities. There are many reasons why gold prices vary in different states of the country. Such as taxes, import duties, transportation costs and local demand. But do you know that there is a state in India where you can buy gold cheaply. This state of India also ranks first in having the highest amount of gold per capita. Know which state of India has the cheapest gold and how much gold the people here have.
According to media reports, the cheapest gold in India is found in Kerala. There are many reasons why gold is cheap in Kerala, one of which is the import of gold from nearby ports. This greatly reduces transportation costs. According to media reports, tax evasion is also common among gold traders here. These traders pass on the savings from tax evasion to consumers in the form of gold at a lower price. As a result, gold is cheaper in Kerala compared to other parts of the country.
What is the consumption of gold?
On November 28, the price of 24 carat gold in Delhi was Rs 7750 per gram. Whereas in Kerala this gold was Rs 7735. Even this small difference has a big impact on the sale of gold. The average per capita gold consumption in Kerala is higher than other states. According to the World Gold Council, Kerala’s annual gold consumption is 200–225 tonnes. Which proves how much people in the state are attracted towards gold.
Where is cheap gold sold after Kerala?
After Kerala, states like Karnataka, Tamil Nadu, Andhra Pradesh and West Bengal also come in the list of cheap gold. However, Kerala’s top ranking can be attributed to its economic and geographical location, which makes it an influential center for gold trading. For this reason, the people of Kerala are also considered the biggest protectors of gold.