Tag Archives: Gold

Kerala the biggest buyers of GOLD in India

30 Tuesday May 2017

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As per report of the World Gold Council, indian purchase of gold ornaments in the first quarter of 2017 accounted for more than one fifth of the world demand.

And Kerala, a small state, is number one in India. It spends about Rs. 208.55 per month in Rural areas and Rs. 189.95 in urban areas as per the report. The T.Nadu and Goa, who are in the second and third positions are spending Rs. 44.86 and Rs. 34.07. Other states are far behind.

The craze for Gold in Kerala has historical, economical and religious back ground. But does that justify this unusual craze?

Liquor and Gold – Kerala’s weakness

04 Tuesday Apr 2017

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Kerala is far ahead of other states in many respects, including literacy, electrification, labour wages, work culture, own home, secular concept etc. etc. These are all welcome and are appreciated world over.

But there are two other issues, in which also, Kerala seems to be in the forefront –  craze for gold and liquor.  This craze needs to be controlled in a progressive state  like Kerala.

Gold Thirsty Malayali – a report in TOI

14 Sunday Dec 2014

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Today’s Sunday Times (Delhi Edition) in its first page has exposed the gold greedy Kerala people. As per the report three finance companies in Kerala have got more than 195 tons of gold in their vaults, which is much more than the gold reserves of countries like Sweden, Singapore, Australia etc.

According to the report, Muthoot Finance has 116 tons, Manappuram Finance 40 tons and Muthoot Fincorp 39 tons of gold in their vaults. Singapore has got only 127 tons, Sweden 126 and Australia 80 tons of gold reserve.

The Malayali is much fond of gold and is happy showing off also. The gold ornaments worn by the bride and now bride groom also is beyond imagination. The yellow metal has become a status mark. The large number of cases of gold smuggling through flights give an idea that how much gold is being smuggled to Kerala.

It is not much different in other parts of the country also, may be to a lesser extent.

The Malayalis must have a rethink on their mad love for gold.