Kochi: In a dramatic market shift, gold prices in Kerala have dipped below the ₹70,000 mark per sovereign, marking the steepest weekly decline in recent times. On Thursday alone, gold dropped by a staggering ₹1,560 per sovereign, bringing the price down to ₹68,880. The per gram rate also slid by ₹195, now standing at ₹8,610.
Experts attribute the sharp correction to a revival in stock markets and the cooling of US-China trade tensions, both of which have led investors to pull back from gold as a safe-haven asset. Just weeks ago, heightened economic uncertainty had driven prices to record highs.
Kerala witnessed an all-time high on April 22, with gold hitting ₹74,320 per sovereign and ₹9,290 per gram. This month’s peak was ₹73,040 on April 8. In just seven days, prices have plummeted by over ₹4,000 per sovereign, signaling a major shift in market sentiment and investment patterns.
