Gold prices have risen again in Kerala, reflecting trends in the international market. On Thursday morning, the price of gold increased by ₹85 per gram, taking the rate to ₹14,970. The price of a sovereign (8 grams) also climbed by ₹680 to reach ₹1,19,760.
Market analysts say the rise in prices is linked to developments in the global market. Gold began gaining after international oil prices declined following remarks by former U.S. President Donald Trump. Trump had reportedly stated that Iran could fall, the war may end soon, and that the Strait of Hormuz could come under U.S. control.
Following the remarks, the U.S. dollar index weakened, which also supported the upward movement in gold prices.
Meanwhile, the Kerala Gold and Silver Merchants Association (KGSMA) has increased the price of 18-carat gold by ₹70 per gram, taking it to ₹12,300.
Silver prices have also risen in the state. Silver is currently priced at ₹290 per gram, with the rate for a sovereign (8 grams) standing at ₹2,320.
