Elric Shrine is a beginner grind-zone. Elric mobs are primarily fought for quest-related reasons. The xp here is low and same with the money. With that being said, this spot is okay very early on, but you should focus on questing until you reach level 56 - once level 56, you can grind Polly's for better, more profitable rewards.
Elric Shrine is located east of Velia; Velia is Black Desert's first major city when you start the game.