Kochi: Gold prices in Kerala continue their unstoppable rally, shattering records after crossing the ₹1 lakh mark. The price of gold rose by ₹240 per sovereign today, taking the rate to ₹1,02,120 per sovereign. On a gram basis, the price increased by ₹30, with one gram of gold now costing ₹12,765.
Gold prices crossed the ₹1 lakh mark for the first time on Tuesday. When making charges and taxes are added, the final cost to consumers is expected to be even higher. The historic milestone was achieved after a sharp increase of ₹1,760 per sovereign on Tuesday.
At the beginning of this month, the price of one sovereign of gold stood at ₹95,680. On the 9th, it fell to ₹94,920, the lowest level recorded this month. However, prices have since been on a steady upward trend over the following days.
Factors influencing the surge in gold prices include fluctuations in the value of the rupee, interest rate cuts by the US Federal Reserve, and ongoing volatility in the stock markets.
