Gold prices in Kerala surged dramatically on May 13, 2026, as the government’s late May 12 decision to hike gold and silver import duty from 6% to 15% delivered the most significant single-day gold price shock in recent memory — hitting India’s most culturally gold-dependent state with full force.
24 carat gold in Kerala stands at ₹16,789 per gram, up ₹1,391 from yesterday’s ₹15,398. 22 carat gold is at ₹15,390 per gram, up ₹1,275 from ₹14,115. 18 carat gold stands at ₹12,592 per gram, up ₹1,043 from ₹11,549.
For Kerala consumers, 10 grams of 24 carat gold now costs ₹1,67,890 against ₹1,53,980 yesterday — an overnight jump of ₹13,910. For a Kerala wedding family purchasing 100 grams of gold across bridal jewellery, family gifts, and ceremonial items — a not uncommon quantum in the state’s gold-intensive wedding culture — the duty hike has added ₹1,39,100 to the total cost in a single day.
The impact in Kerala is structurally more severe than in any other Indian state. No state in India has a deeper, more financially and culturally embedded relationship with gold. The Streedhanam system in Hindu weddings, the Mahr tradition in Muslim marriages, and Christian wedding customs across Malabar and Travancore all mandate substantial gold transfers between families — making gold purchases not a discretionary consumer decision but a social and in many cases legal obligation.
The duty hike from 6% to 15% — a 150% increase in the effective import tax rate — raises the landed cost of every gram of gold that enters Kerala’s market through banking channels. Kerala’s large NRI population, accustomed to bringing or sending gold as gifts, will also face higher effective costs on any gold imported through formal channels.
Thrissur — Kerala’s gold capital and home to Kalyan Jewellers’ founding headquarters — will be among the most acutely affected gold trading centres in the country. With Kalyan Jewellers stock already down over 12% across two sessions following the PM’s appeal, and physical gold prices now ₹1,391 per gram higher overnight, Thrissur’s jewellery trade is navigating simultaneous stock market and physical market disruption unlike anything seen in recent years.
Kerala’s rates match Mumbai, Kolkata, Bengaluru, Hyderabad, and Pune on all three caratages.
Rates are indicative and exclude GST, TCS, and other levies. Contact your local jeweller for exact rates.