Even if gold price has slightly come down from the all time record high in the international market on Tuesday, the yellow metal's price hike is most felt in Kerala that consumes maximum gold in India. During this month alone in Kerala gold price has increased by twenty per cent. As per recent assessment, India being the largest consumer is expected to import 1000 tonnes of gold this financial year. Kerala is one of the leading markets of the yellow metal in the country. Just eight grams of one soverign will cost you around 21,500 rupees in the state. However, according to gold experts fast escalating price is unlikely to affect demand adversely in God's own country. Large quantity of gold ornament is an integral part of dowry system prevalent across Kerala and high literacy of the state gives no escape route to this social evil. With festivals and marriage season round the corner, demand for gold will enhance in Kerala pushing the price of the precious metal further up in coming days.
News On AIR | August 24, 2011 10:09 AM
Gold prices remain up in Kerala