Gold prices in Kerala continued their upward trend on Monday, with the price of one sovereign (8 grams) of 22-carat gold crossing ₹1.14 lakh.
According to the latest market rates released on June 1, the price of 22-carat gold (916 purity) stands at ₹14,320 per gram, taking the price of a sovereign to ₹1,14,560.
The rate of 18-carat gold has been fixed at ₹11,830 per gram, while the price of 8 grams has reached ₹94,640.
Silver prices also witnessed an increase, with the metal trading at ₹280 per gram and ₹2,240 for 8 grams.
Jewellery traders said gold prices continue to be influenced by movements in international bullion markets, fluctuations in the US dollar and global economic uncertainties.
The sustained rise in prices has pushed gold rates in Kerala to near-record levels, increasing the cost burden on consumers planning jewellery purchases ahead of the upcoming wedding and festive seasons.
