Gold Rate Jumps Wildly By Rs 45,220 YTD; Gold Prices In Kerala vs. Manappuram, Muthoot: Who Gave More Returns?

Gold rates in India have continued to give greater returns than stocks in 2025 so far. On November 10th, 24 carat, 22 carat and 18 carat gold prices kicked off the current week with a banger. 10 grams gold price has jumped by Rs 1,200 and 100 grams skyrocketed by Rs 12,000 in 24 carat. Due to the latest rally, gold prices in one state has given an impressive 58% returns year-to-date. This state is called Kerala. However, has gold in Kerala given better returns than compared to gold financing companies like Muthoot Finance and Manappuram Finance whose home-ground is this state? Let's find out!

Gold Rates In Kerala:

24 carat gold price is up by Rs 1,200 to Rs 1,23,200 per 10 grams, while the price is higher by a whopping Rs 12,000 to Rs 12,32,200 per 100 grams. Meanwhile, gold rates in 8 gram and 1 gram surged by Rs 960 and Rs 120 to Rs 98,576 and Rs 12,322 respectively.

Further, 22 carat gold is available at Rs 1,12,950 on November 10, registering an upside of Rs 1,100 from the previous day. In case of 100 grams, gold is up by Rs 11,000 to Rs 11,29,500. Under the lower carats, 22 carat is up by Rs 880 to Rs 90,360 per 8 grams and higher by Rs 110 to Rs 11,295 per 1 gram.

Coming to 18 carat, gold price rose by Rs 900 to Rs 92,420 per 10 grams, soared by Rs 9,000 to Rs 9,24,200 per 100 grams, jumped by Rs 720 to Rs 73,936 per 8 grams, and edged higher by Rs 90 to Rs 9,242 per 1 gram.

Gold rates are up by 0.2% in November so far. The current gold prices in Kerala is at their highest level for November month. But the rates are down from all-time highs of Rs 1,32,770 per 10 grams in 24 carat and Rs 1,21,700 per 10 grams in 22 carat that was touched on October 17, 2025.

Still, gold rates in Kerala have given nearly 58% returns year-to-date. On January 1st, 2025, 10 grams of 24 carat stood at Rs 78,000. Since then to date, 10 grams price skyrocketed by Rs 45,220.

Let's calculate:

Let's suppose an investor bought one 10 grams of 24 carat gold at Rs 78,000 on January 1st. They gain up to Rs 45,220 by November 10. But if compared with the all-time high level of Rs 1,32,770 per 10 grams, then their gain was of Rs 54,770 or 70%. The prices have corrected significantly but experts believe gold could rally ahead.

Muthoot Finance Share Price:

At the time of writing, Muthoot Finance share price traded at Rs 3282.45 apiece on BSE, up by 1.6% with market cap of Rs 1,31,780.02 crore. YTD, Muthoot Finance stock price has rallied by 48.41%.

Manappuram Finance Share Price:

Currently, Manappuram share price traded at Rs 276.15 apiece on BSE, up by 2.05% with market cap of Rs 23,374.30 crore. The stock is nearing its 52-week high of Rs 298 apiece. Its present market cap is at Rs 23,374.30 crore. YTD, this gold finance stock has surged by 44.45%.

What Should Investors Do With Gold?

As per SBI Mutual Fund's November outlook report, several underlying factors continue to offer solid support for gold. These include: 1) rising concerns for stagflation 2) shifting dynamic in traditional safe-haven assets 3) current tariff disputes may act as a further catalyst, encouraging investors to reduce reliance on US Treasuries in favour of alternative stores of value like gold.

It added, "Fading US exceptionalism and declining comfort in Treasuries enhance gold's attractiveness, valuations are increasingly stretched." That beings said, the MF suggested that it is prudent to maintain gold as a core holding within diversified portfolios. However, investors should also be prepared for a potential pause or consolidation in gold's rally over the near term.

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