After touching historic peaks, gold prices in Kerala have taken a U-turn, slipping for the second consecutive day amid shifting global cues. Market experts say the decline is driven by global market fluctuations, a stronger US dollar, and profit-booking by investors.
In today’s trading, the price of one sovereign (pavan) of gold dropped to ₹1,05,160, compared to ₹1,05,320 on the previous day. The per gram price now stands at ₹13,145, reflecting a modest but notable correction from recent record levels.
Gold had crossed the ₹1 lakh mark for the first time on December 23, sparking concern among consumers and the jewellery trade alike. The sharp surge had dealt a blow to middle-class buyers, particularly families planning purchases for weddings and traditional ceremonies. While the current dip offers slight relief, analysts caution that gold prices remain volatile and closely tied to global economic movements.
