Kochi: In a sharp turnaround, gold prices in Kerala have dropped significantly, with the price of one sovereign (8 grams) falling by ₹1,000. The new rate stands at ₹74,040 per sovereign. This comes just a day after the price had surged past ₹75,000.
Over the past two days, gold prices had risen by ₹1,600 per sovereign, making this sudden drop particularly notable. The price per gram has decreased by ₹125, bringing it down to ₹9,255.
Earlier this month, on July 1, the gold price was ₹72,160 per sovereign. It dipped further to ₹72,000 on July 9 — the lowest level for the month — before beginning an upward trend that has now reversed sharply.
India, being the world’s largest consumer of gold, imports several tonnes annually. As a result, even minor fluctuations in the global market tend to have a direct impact on domestic gold prices.
