Gold in South India: The significance

Gold in South India
Gold in South India

The significance of gold in South India, India’s love for gold is not hidden from anyone. But South India usually gets a special mention in this subject.

Did you know that during the Roman Empire gold was used as a form of currency to obtain a variety of spices from Cochin?

For a long time, gold has played an important role in all South Indian cultures and added to the grandeur of their traditions.

Gold and festivals

Gold, metals, and colors, play an integral role in the Kerala New Year – Vishu. Gold is used to decorate ‘Vishukanni’ – arrangements of gold, flowers, fruits, pulses, and many other things. With Vishukanni, you open your eyes to the prosperity and divine wealth that will fill your life for the year to come.

‘Akshay Tritiya’ is celebrated with great enthusiasm and extravagance in the state of Tamil Nadu. People consider this day to be an extremely auspicious day of the year to buy gold and prefer weddings and other important events on Akshaya Tritiya. It is said that observing this fast brings happiness and prosperity in the life of a person. Hence, people buy gold ornaments on this day, gift them to their loved ones and even donate to the needy.

Gold and weddings

According to the India Gold Report released by the World Gold Council on 24 January 2020, the weight of the gold worn by a Kerala bride is 320 grams. Brides in Tamil Nadu and Andhra Pradesh wear an average of 300 grams of gold in their weddings.

South Indian brides are adorned with gold from head to toe on their wedding day. Parents gift their daughter – the bride – a significant amount of gold on her wedding day. This is how parents assure their daughter’s future in her new home.

Kasavu saree with intricate golden embroidery is popular bridal wear in South India. The bride gleams in gold and looks ethereal on her special day.

There is another tradition in Kerala in which the groom’s family buys saris called ‘manthrakhodis’ – these are richly embroidered in gold. Threads are taken from this saree and tied around the bride’s neck in the form of ‘mangal sutra.

In Tamil Nadu, a mangalsutra is called a ‘thali’, which weighs around 4 to 8 grams. Many people who are worn with a gold chain add different things to the plate. Some people add gold coins while others choose gold rounds and bottu on the main plate.

Each motif or design made on the plate represents something different. For example, the embossed Shiva linga on a gold plate is a symbol of fertility while the bulge of Tulsi is a symbol of purity.

The mangalsutra of Andhra Pradesh usually consists of two coins made of gold. This Telugu mangalsutra is also known as ‘pustelu’. As per tradition, one of these gold coins comes from the groom’s side while the other from the bride’s side, and both are separated by beads.

Gold and ceremonies

The thread ceremony or Annaprashan is a South Indian tradition where relatives and friends gift gold coins and other such gold items to the hosts. Annaprashan is a ritual in which the baby is given solid food for the first time. During the ceremony, the child’s father dips a gold ring in each food item. Then this ring is touched with the tongue of the child.

Gold and jewellers

Many big gold jewelery retailers in India are from Kerala. With a sufficient supply of gold, these jewelers can meet the rising demand for gold, which is the reason for such competitive gold prices. There is such a demand for gold in Kerala that soon there is going to be Gold Souk Grande in Cochin similar to the world-famous gold socks in Dubai!

The next time you own a piece of gold jewellery, take some time to appreciate our long-standing bond with gold; A bond that transcends all boundaries.

Kerala and Tamil Nadu are the two states of South India which are very famous for their gold markets. Both these states are considered to be the largest gold market in India. South India accounts for 40 percent of the gold market share. This is much more than the combined contribution of East and West.

More About South India

Frequently Asked Questions About Gold in South India

Q. Is South Indian Gold Pure?

A – The northern region, which accounts for 15% of the total gold demand in the country, prefers studded gold ornaments while the southern region prefers pure gold. The Bureau of Indian Standards (BIS) has set standards for hallmarking gold jewelery in three grades – 14 carats, 18 carats, and 22 carats.

Q. Which state has the best gold in India?

A – According to a survey by NSSO, Kerala has the highest Monthly Per Capita Expenditure (MPCE) on gold jewelery among all Indian states. The state’s gold MPCE in rural areas is ₹208.55, which is six times higher than ₹34.07 for second rank holder Goa.

Q. Why do Tamil people wear gold?

A – It is considered part of culture and heritage, a decorative item, and a family asset that is passed down through generations and through children. Keeping gold is considered a symbol of wealth and wearing it is a symbol of prosperity. The price of gold has plummeted in recent months and along with it have been robberies.

Q. Is gold from South India good?

A – Kerala and Tamil Nadu are the two states of South India which are very famous for their gold markets. Both these states are considered to be the largest gold market in India. South India accounts for 40 percent of the gold market share. This is much more than the combined contribution of East and West.

Q. Which country’s gold is the cheapest?

A – Hong Kong. Hong Kong is currently the cheapest place to buy gold. The premium on Australian nuggets, a type of gold coin, in Hong Kong is the cheapest gold to buy in the world for about $1,936 for a one-ounce gold coin.

Q. Why is gold so cheap in Dubai?

A – Gold prices in Dubai have always been cheap due to the exclusion of taxes in the Emirates as buyers will only pay the value of gold jewellery. VAT in Dubai is currently the only form of tax applicable to any gold purchase.

Q. What is the current price of gold?

A – Live gold spot price

Q. Is gold high or low right now?

A – Live Gold Price

Q. Why is gold so expensive?

A – Gold is a metal. And like any metal, it is ground and purified. Gold is expensive because the production cost associated with it is high. Also, gold is very popular, due to which its price increases further.

Q. What is the 22-carat gold today?

A – Gold rate in India today is ₹ 47,160 per 10 grams for 24 Carat and ₹ 43,200 for 22 Carat. Live Gold Rates

Q. What is the price of gold today?

A – Gold Rates Today

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