Forward this to anyone buying gold in Kochi or Ernakulam this month, with one question: which association's rate is your shop following today? On Dhanteras morning, Friday, November 6, Kerala's two gold trade associations were not quoting the same price.
Dhanam Online reported the split on November 6. The Kerala Gold and Silver Merchants Association faction associated with S. Abdul Nasser cut its 22 karat rate by Rs 245 a gram to Rs 13,140, taking one pavan, or sovereign, down Rs 1,960 to Rs 1,05,120. The All Kerala Gold and Silver Merchants Association, the body whose members include Bhima Gold, did not cut its rate that day, according to the same report. Those are that morning's association figures as the paper reported them, not today's counter price, and our Kochi and Ernakulam pages carry today's live rate.
The same report shows why the board rate is only the start of a Kerala bill. With a minimum 5 percent making charge, 3 percent tax on the gold and the making charge, and the hallmark charge added, one pavan worked out above Rs 1,14,003 that day, varying by design. Dhanam also reported the season's shift in what people carried home: with prices swinging, buyers hesitated over heavy pieces and preferred lightweight necklaces, earrings, rings and daily wear jewellery, with demand rising for lower karats, including 9 karat, alongside the usual 22 karat. A smaller karat means a smaller share of pure gold in the piece, which is why it costs less, and its exchange value later follows that purity.
The paper also carried a caution from rating agency Crisil, which assessed that the market has not fully returned and estimated jewellery sales volumes could fall 5 to 6 percent in 2026-27 as buyers buy less. That is an agency estimate, not a count.
Buyer takeaway: Before you pay in Kochi or Ernakulam, ask which association rate the shop is following, get the making charge and the full counter total in writing, check the BIS hallmark and HUID, and see today's live rate on our Kochi page before you set out.
Source: Dhanam Online (Malayalam), 6 Nov 2026
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