Kochi: Gold prices in Kerala have witnessed another significant drop. On Friday, the price of gold fell by ₹400 per sovereign, bringing the new rate down to ₹73,280. The price per gram decreased by ₹50, now standing at ₹9,160.
This decline comes just days after gold prices hit a record high of over ₹75,000 per sovereign on Wednesday. Over the last three days alone, the price has plummeted by more than ₹1,700.
At the beginning of this month, the price of gold was ₹72,160 per sovereign. On July 9, it dropped to ₹72,000 — the lowest rate of the month — before rebounding to record highs. However, the upward trend was short-lived as prices began falling again.
India is one of the world’s largest consumers of gold, importing hundreds of tonnes annually. As a result, even minor fluctuations in the global market tend to significantly influence domestic gold prices.
