Indian state where you can buy gold at cheapest price, state is…, people here own a total of….

There are several reasons behind the varying gold prices in different states.

Gold price in India: The price of gold varies everywhere in the world, and you cannot buy as much gold as you want from there; rather, you can only bring it in a fixed quantity. In India too, gold prices differ across states and cities.

There are several reasons behind the varying gold prices in different states of the country, such as taxes, import duties, transportation costs, and local demand. But did you know that there is a state in India where you can buy gold at a cheaper rate? This state ranks highest among those with the most gold per capita.

Let’s find out which state in India offers cheap gold and how much gold the people here possess in total.

The cheapest gold in India is found in Kerala. Several reasons for the lower gold prices in Kerala include the import of gold from nearby ports, which significantly reduces transportation costs. According to media reports, tax evasion among gold traders is also common here.

The savings from tax evasion allow these traders to offer gold to customers at lower prices. As a result, gold prices in Kerala remain lower compared to other parts of the country.

Kerala’s per capita gold consumption is possibly the highest in India. According to the World Gold Council (WGC), Kerala’s annual consumption is 200-225 tons, which proves how deep the attraction for gold is among the people of the state.

After Kerala, states like Karnataka, Tamil Nadu, Andhra Pradesh, and West Bengal also feature on the list of cheaper gold. However, Kerala’s name remains in the top position mainly due to its economic and geographical conditions, which make it an effective hub for the gold trade. For this reason, the people of Kerala are considered the biggest patrons of gold.