Kochi: After a brief morning dip, gold prices in the State staged a swift recovery by afternoon, once again moving closer to record levels. The price of gold, which had fallen by ₹600 per sovereign in the morning, rebounded by ₹320 by noon, taking the rate to ₹1,05,320 per sovereign.
On a per-gram basis, gold gained ₹40 in the latter half of the day, with one gram now priced at ₹13,165. The early decline followed a sharp surge of ₹1,080 per sovereign in two phases on the previous day, when prices touched a historic peak.
Gold prices in Kerala had crossed the ₹1 lakh mark for the first time on December 23 and have largely remained on an upward trajectory since then. Analysts point to fluctuations in the international market as a key factor influencing local prices.
Global geopolitical developments, including concerns over US military actions in Venezuela, have fuelled volatility, while strong demand for gold as a safe-haven investment continues to keep prices elevated despite short-term corrections.
