Kochi: Gold prices in the state are once again inching closer to the ₹99,000 mark. The price of gold rose by ₹240 per sovereign (8 grams) today, taking the rate to ₹98,880 per sovereign. On a per-gram basis, prices increased by ₹30, with one gram of gold now priced at ₹12,360.
After briefly dipping in recent days—just when prices appeared poised to decisively cross the ₹1 lakh mark—gold has staged a strong comeback over the last two days. In total, gold prices have climbed by ₹720 per sovereign within 48 hours. The all-time high of ₹99,280, recorded on the 15th, remains the record benchmark.
Market experts attribute the renewed surge to multiple global and domestic factors, including the Indian rupee slipping to record lows against the US dollar and the US Federal Reserve’s decision to cut key interest rates. These developments have strengthened gold’s appeal as a safe-haven asset.
Meanwhile, when making charges and taxes are factored in, the effective cost of gold has already crossed ₹1 lakh in many cases, adding further pressure on buyers despite the price volatility.
