Thiruvananthapuram: Gold prices in Kerala have recorded a decline today. According to the latest market rates, the price of 22-carat gold has fallen by ₹360 per sovereign (8 grams), bringing the rate down to ₹1,18,960, while the price per gram stands at ₹14,870.
Prices of other categories of gold have also been noted. 18-carat gold is priced at ₹12,215 per gram and ₹97,720 per sovereign, while 14-carat gold is available at ₹9,515 per gram and ₹76,120 per sovereign. Meanwhile, 9-carat gold is trading at ₹6,135 per gram and ₹49,080 per sovereign in the market.
Silver prices have also declined, with a drop of ₹10 per gram. The current price of silver stands at ₹280 per gram and ₹2,800 for 10 grams.
In the global market, gold prices have also witnessed a fall, with the price per ounce dropping by around $5.177. This decline is being observed despite ongoing geopolitical tensions in West Asia.
Typically, during wars or political instability, investors turn to gold as a safe-haven investment, which pushes prices higher. However, the current conflicts have led to rising fuel prices and fears of increasing global inflation. Analysts believe that central banks across the world may raise interest rates to control inflation, a factor that is currently putting pressure on gold prices.
