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Today's Gold Rate in Kollam 31 May 2020 : 916 24kt and 22ct Gold Price 1 Gram and Pavan in Kollam


Published on May 31, 2020

Today's Gold Rate in Kollam 31 May 2020

Gold Rate in Kollam Today is Rs.4,316/- per gram : Explore Today's 916 Gold Price in Kollam & also get 24 Karat Gold Rate & 22 Carat Gold Rate Per Gram for last 10 days:

Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has the most effective safe haven and hedging properties across a number of countries.

Gold Rate in Kollam Today is Rs.4,316/- per gram

Today's Gold Rate in Kollam ( 31 May 2020 )

1. Today's Gold Rate (22K) per gram : Rs.4,316

2. Today's Gold Rate (24K) per gram : Rs.4,534

3. Standard Gold (22 K) ( 8 grams ) One Sovereign or Pavan: Rs.34,528

4. Standard Gold (24 K) ( 8 grams ) One Sovereign or Pavan: Rs. 36,272

Gold Rate in Kollam for Last 10 Days

Date
Standard Gold (22 K)
Pure Gold (24 K)
1 gram in Rs
8 grams in Rs
1 gram in Rs
8 grams in Rs
30 May 2020 Rs.4,316 Rs.34,528 Rs.4,534 Rs.36,272
29 May 2020 Rs.4,325 Rs.34,600 Rs.4,539 Rs.36,312
28 May 2020 Rs.4,290 Rs.34,320 Rs.4,505 Rs.36,040
27 May 2020 Rs.4,275 Rs.34,200 Rs.4,675 Rs.37,400
26 May 2020 Rs.4,350 Rs.34,800 Rs.4,568 Rs.36,544
25 May 2020 Rs.4,350 Rs.34,800 Rs.4,568 Rs.36,544
24 May 2020 Rs.4,350 Rs.34,800 Rs.4,568 Rs.36,544
23 May 2020 Rs.4,350 Rs.34,800 Rs.4,568 Rs.36,544
22 May 2020 Rs.4,315 Rs.34,520 Rs.4,531 Rs.36,248
21 May 2020 Rs.4,315 Rs.34,520 Rs.4,531 Rs.36,248

Influencing Factors for Gold Rate in Kollam

Like most commodities, the price of gold is driven by supply and demand, including speculative demand. However, unlike most other commodities, saving and disposal play larger roles in affecting its price than its consumption. Most of the gold ever mined still exists in accessible form, such as bullion and mass-produced jewelry, with little value over its fine weight — so it is nearly as liquid as bullion, and can come back onto the gold market. At the end of 2006, it was estimated that all the gold ever mined totalled 158,000 tonnes (156,000 long tons; 174,000 short tons). The investor Warren Buffett has said that the total amount of gold in the world that is above ground could fit into a cube with sides of just 20 metres (66 ft) (which is roughly consistent with 158,000 tonnes as the gold density is 19.3 tonne per cubic metre in room temperature). However, estimates for the amount of gold that exists today vary significantly and some have suggested the cube could be a lot smaller or larger.[by whom?]

Given the huge quantity of gold stored above ground compared to the annual production, the price of gold is mainly affected by changes in sentiment, which affects market supply and demand equally, rather than on changes in annual production. According to the World Gold Council, annual mine production of gold over the last few years has been close to 2,500 tonnes. About 2,000 tonnes goes into jewelry, industrial and dental production, and around 500 tonnes goes to retail investors and exchange-traded gold funds

Gold Certificates in Kollam

Gold certificates allow gold investors to avoid the risks and costs associated with the transfer and storage of physical bullion (such as theft, large bid-offer spread, and metallurgical assay costs) by taking on a different set of risks and costs associated with the certificate itself (such as commissions, storage fees, and various types of credit risk).

Banks may issue gold certificates for gold that is allocated (fully reserved) or unallocated (pooled). Unallocated gold certificates are a form of fractional reserve banking and do not guarantee an equal exchange for metal in the event of a run on the issuing bank's gold on deposit. Allocated gold certificates should be correlated with specific numbered bars, although it is difficult to determine whether a bank is improperly allocating a single bar to more than one party.

Using leverage

Investors may choose to leverage their position by borrowing money against their existing assets and then purchasing or selling gold on account with the loaned funds. Leverage is also an integral part of trading gold derivatives and unhedged gold mining company shares (see gold mining companies). Leverage or derivatives may increase investment gains but also increases the corresponding risk of capital loss if the trend reverse.

Cryptocurrencies

Some of the economic mechanics of gold have been compared to those of cryptocurrencies. For example, they are both scarce, fungible and do not come attached to debt. Nick Szabo created a digital currency call "bit gold" that mimicked some features of gold.


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