Kochi: Gold prices in Kerala have crossed the historic milestone of ₹1 lakh per sovereign, setting an all-time record. The sharp rise came after the price of gold jumped by ₹1,760 in a single day, taking the price of one sovereign (8 grams) to ₹1,01,600.
The price of gold increased by ₹220 per gram, with one gram now priced at ₹12,700. On the previous day alone, gold prices had risen by ₹1,440 in two phases, indicating strong upward momentum in the market.
At the beginning of this month, the price of one sovereign stood at ₹95,680. It later dropped to ₹94,920 on the 9th of the month, marking the lowest level this month, before steadily climbing in the following days to reach the current record high.
Market experts attribute the surge in gold prices to multiple factors, including the record fall of the Indian rupee against the US dollar, the US Federal Reserve’s decision to cut key interest rates, and ongoing volatility in global equity markets. These developments have increased investor demand for gold as a safe-haven asset, pushing prices to unprecedented levels.
