Kochi: Gold prices in Kerala witnessed a dramatic fall today, sending shockwaves through the bullion market. The price of one pavan (8 grams) of gold plunged by a massive ₹6,320 in a single day, taking the rate down to ₹1,17,760. The per-gram price also dropped sharply by ₹790, settling at ₹14,720.
This marks the second consecutive day of steep decline after gold recently touched record highs. On the previous day alone, the pavan rate had fallen by ₹5,240. With back-to-back corrections, gold has shed more than ₹11,500 in just two days. Notably, gold had crossed the ₹1 lakh mark for the first time on December 23.
Experts say fluctuations in the international market are directly impacting gold prices in Kerala. Global economic uncertainty and geopolitical tensions continue to influence investor sentiment and precious metal prices worldwide.
Market instability has been fuelled by recent developments on the global stage, including statements by US President Donald Trump on imposing higher tariffs on products from European nations opposing American positions on Greenland’s control. Reports suggesting that the United States is considering military action against Iran have further heightened uncertainty, triggering volatility in global markets and contributing to the sharp fall in gold prices.
With global cues still unstable, market watchers expect continued fluctuations in gold rates in the coming days.
