Kochi: Gold prices have witnessed a sharp rebound in the state, with the rate per sovereign surging back above ₹1,20,000. In a single-day jump, the price increased by ₹1,840 per sovereign, while the per gram rate rose by ₹230, taking the price of one gram of gold to ₹15,000. The sudden spike comes after several days of decline in the market.
Earlier this month, gold had touched ₹1,26,920 per sovereign, the highest level recorded this month. However, prices dropped by more than ₹8,000 within six days before climbing again. Analysts say global uncertainties, including tensions in West Asia, are influencing the gold market. Gold continues to attract investors as a safe-haven asset, with central banks in several countries increasing their purchases. The all-time record price remains ₹1,31,160, recorded on January 29, while the sovereign price had first crossed the ₹1 lakh mark on December 23 last year.
