Gold prices in Kerala witnessed a sharp surge on Tuesday, with the rate of one sovereign climbing by ₹1,640 in a single day. The sudden rise has pushed the price of a sovereign to ₹1,16,480, while the per-gram price increased by ₹205 to settle at ₹14,560.
Market analysts noted that gold prices continue to fluctuate after touching record highs earlier this year. The all-time high in the state was recorded on January 29, when a sovereign of gold touched ₹1,31,160. Gold had crossed the ₹1 lakh mark for the first time on December 23, following which prices surged rapidly. Experts say the current volatility is largely driven by global market movements and international economic uncertainties, which are directly influencing gold rates in the state.
