After scaling historic highs, gold prices have taken a sharp dip in Kerala, offering brief relief to buyers. The price of gold has dropped by ₹480 per pavan, bringing the current rate down to ₹98,400 per pavan, while the price per gram has declined by ₹60 to ₹12,300.
The correction comes after gold touched an all-time high of ₹99,280 per pavan, sparking widespread speculation that prices could soon cross the psychological ₹1 lakh mark. However, the market has since entered a phase of volatility, with prices fluctuating sharply.
Market analysts attribute the swings to a combination of global and domestic factors, including the Indian rupee slipping to a record low against the US dollar and the US Federal Reserve’s decision to cut key interest rates. These developments have significantly influenced gold prices.
Despite the fall in base rates, gold continues to remain expensive for consumers. When making charges and taxes are added, the effective price of gold has already crossed ₹1 lakh per pavan, keeping the yellow metal firmly in the high-cost zone despite the recent dip.
