Kochi: Gold prices have staged a sharp comeback, surging by ₹1,120 per sovereign (8 grams) and once again crossing the ₹1.18 lakh mark, underscoring the ongoing volatility in the bullion market.
The price of one sovereign now stands at ₹1,18,640, while the per gram rate has risen by ₹140 to ₹14,830. The rebound comes just a day after prices had dipped, highlighting the rapid fluctuations that continue to unsettle buyers and investors alike.
On the previous day, gold had spiked by ₹1,520 in the morning to breach ₹1.18 lakh, only to fall by ₹800 later in the afternoon. At the start of the month, the rate was ₹1,17,760 per sovereign, with the lowest level recorded at ₹1,07,920.
The all-time high of ₹1,31,160, logged on January 29, remains the benchmark record. Gold first crossed the ₹1 lakh milestone on December 23, marking a historic moment for the market.
Analysts attribute the persistent ups and downs to global market dynamics, currency fluctuations, and broader international economic uncertainties. With prices swinging sharply, traders advise caution as the bullion market continues its unpredictable run.
