Kerala’s gold market has taken a sharp dip, with prices falling for the second consecutive day, leaving buyers pleasantly surprised and sellers cautious. In just two days, gold prices have tumbled by a total of ₹1,240 per sovereign (pavan), signaling one of the steepest short-term declines in recent weeks.
On Wednesday, prices dropped by ₹720 per sovereign, bringing the rate down to ₹89,080, while the price per gram slipped by ₹90 to settle at ₹11,135. This follows Tuesday’s ₹520 fall, which had already dragged prices below the crucial ₹90,000 mark.
The yellow metal, which had surged past ₹90,000 after a brief rebound on October 30, has now reversed course again. Notably, Kerala had recorded its all-time high of ₹97,360 per sovereign on October 17, during a global gold rally.
Analysts say the current dip reflects international market trends, as economic uncertainty in the United States and fluctuating global demand continue to impact bullion prices worldwide. Experts believe that unless global markets stabilize, further short-term volatility in gold prices is likely.
