Kochi: After scaling unprecedented highs, gold prices in Kerala saw a sharp and sudden correction, slipping by ₹5,240 per sovereign in a single day. The price of one sovereign (8 grams) now stands at ₹1,25,120, while the per-gram rate dropped by ₹655 to ₹15,640.
Just a day earlier, gold had rewritten price records, touching an all-time high of ₹1,31,160 per sovereign. Although early signs of softening emerged by Wednesday evening—with prices easing to ₹1,30,360—the real slide unfolded by Thursday morning, catching both traders and buyers by surprise.
Market expectations had been that prices would gradually approach the ₹1.25 lakh mark. Instead, gold surged past ₹1.30 lakh before undergoing this steep correction, defying most projections.
Gold crossed the ₹1 lakh milestone in Kerala for the first time on December 23, driven largely by global market dynamics. International price movements, geopolitical tensions, and economic uncertainty continue to exert strong influence on local rates.
Recent market volatility has been fueled by reports of potential US military action against Iran, along with statements by former US President Donald Trump threatening higher tariffs on European goods over disagreements related to Greenland. These global developments have unsettled international markets—an impact now clearly reflected in gold prices back home.
