Kochi: After witnessing a steep fall a day earlier, gold prices in Kerala made a strong comeback on Thursday. The price of gold rose by ₹1,080 per sovereign (8 grams), reversing part of Wednesday’s sharp decline of ₹1,880.
With the latest increase, the price of one sovereign of gold stands at ₹1,16,320, while the price per gram has gone up by ₹135 to ₹14,540.
On Wednesday morning, gold prices had surged by ₹3,960, touching a fresh peak. However, by noon, prices retreated sharply, falling by ₹1,880, even after crossing the ₹1.17 lakh mark per sovereign. Over the past three weeks alone, gold prices have increased by more than ₹17,000 per sovereign.
Gold prices in Kerala had crossed the ₹1 lakh mark for the first time on December 23. The domestic market continues to mirror fluctuations in the international gold market, influenced by global economic and geopolitical uncertainties.
Market volatility has intensified following US President Donald Trump’s announcement that higher tariffs may be imposed on products from European countries opposing the US stance on Greenland’s control. This has unsettled global markets, prompting investors to shift towards gold as a safe-haven asset.
As a result, increased demand for gold amid global uncertainty continues to keep prices elevated.
