Kochi: Gold prices in the state witnessed a marginal dip on Friday, even as the yellow metal continues to trade above the ₹1.18 lakh mark per sovereign. After gaining over ₹3,000 in the past five days, the price of gold fell by ₹160 per sovereign, bringing it down to ₹1,18,560. On a per gram basis, the rate declined by ₹20 and now stands at ₹14,820, reflecting the ongoing volatility in the bullion market.
The recent correction comes a day after a sharp surge of ₹1,120 per sovereign had pushed prices comfortably above ₹1.18 lakh. At the start of the month, gold was priced at ₹1,17,760, while the lowest level recorded this month was ₹1,07,920 on the 2nd. The all-time high of ₹1,31,160 per sovereign was recorded on January 29, with gold first breaching the ₹1 lakh milestone on December 23. Market analysts attribute the continued fluctuations to global economic cues and shifting trends in the international bullion market.
