Kochi: In a dramatic turnaround after weeks of record highs, gold prices in Kerala have suffered another massive fall, with the price of one sovereign (8 grams) dropping by ₹9,840 between morning and afternoon trade. The sovereign rate now stands at ₹1,07,920, offering unexpected relief to buyers. The per-gram price of gold also declined sharply, settling at ₹13,490 by afternoon.
This marks the third straight day of steep correction in gold prices. On Saturday, the sovereign rate had already fallen by ₹6,320, followed by today’s even sharper slide. Notably, gold crossed the ₹1-lakh milestone for the first time on December 23, setting a historic high before the current downturn.
Experts say Kerala’s gold market continues to mirror fluctuations in international bullion prices, driven by heightened global uncertainty. Geopolitical tensions have added to the volatility, including US President Donald Trump’s warning of higher tariffs on European nations opposing US views on Greenland’s control, and reports that the United States is considering military action against Iran.
These global developments have unsettled international markets, triggering a sharp correction in gold prices and significantly impacting local rates.
