Kochi: Gold prices in Kerala witnessed another notable decline on Thursday, with the rate falling ₹720 per sovereign, pushing the price below the ₹1.20 lakh mark once again. Following the latest drop, the price of one sovereign (8 grams) of gold now stands at ₹1,19,920, while the per gram rate has decreased by ₹90 to ₹14,990. The sudden fall comes after a period of sharp increases that had pushed gold prices close to record levels in recent weeks.
Market data shows that gold prices have fallen by nearly ₹7,000 per sovereign in just four days, signaling a significant correction after the earlier surge. The price had dropped by ₹2,280 per sovereign on Wednesday alone. The earlier spike was largely driven by rising geopolitical tensions in West Asia, which encouraged investors to move toward gold as a safe-haven asset. The highest gold price recorded in Kerala so far was ₹1,31,160 per sovereign on January 29, while the milestone of ₹1 lakh per sovereign was first crossed on December 23, marking a historic moment in the state’s gold market.
