Kochi: Gold prices have staged a strong comeback after slipping ₹640 in two phases yesterday. In a fresh upward move, the price of gold rose by ₹400 per sovereign, pushing the rate to ₹1,18,480. On the per gram front, prices climbed by ₹50, taking the rate to ₹14,810.
The yellow metal continues to witness sharp fluctuations in the state. Earlier this week, a sudden spike of ₹1,120 in a single day had already driven prices back above the ₹1.18 lakh mark.
At the start of the month, gold was priced at ₹1,17,760 per sovereign. The lowest level recorded this month was ₹1,07,920 on the 2nd, while the highest so far stands at ₹1,18,720, recorded on Wednesday.
The all-time record remains ₹1,31,160, noted on January 29. December 23 was a historic milestone, marking the first time gold prices crossed ₹1 lakh per sovereign.
Analysts attribute the ongoing volatility to trends in the global market, which continue to influence local pricing. With rates rising and falling sharply, investors and buyers are keeping a close watch on the market’s next move.
