Kochi: Kerala witnessed a historic surge in gold prices on Monday, with rates crossing the ₹80,000 mark per sovereign (8 grams) for the first time ever. Prices skyrocketed by ₹1,000 in a single day, setting a new record at ₹80,880 per sovereign.
In another milestone, gold has breached the ₹10,000 per gram barrier, with rates climbing by ₹125 to touch ₹10,110 per gram. The sudden jump came after a brief morning dip, when prices slipped by ₹80, only to rebound sharply by afternoon with a ₹400 surge before scaling new heights.
The rally marks a sharp rise from last month’s rates. On August 8, gold was priced at ₹75,760 per sovereign, before dropping by ₹2,300 by the 20th. However, since early September—when rates touched a monthly low of ₹77,640—the precious metal has been on a relentless climb, now breaking past the psychological ₹80,000 ceiling.
Market watchers link the record-breaking rally to global triggers, notably the U.S. decision to impose a 50% tariff on imports from India, which has shaken Indian stock markets. With uncertainty looming large, investors are flocking to gold as a safe-haven asset, fuelling the price surge.
