Kochi: After soaring to record highs, gold prices in the state have taken a step back. The price of gold dropped by ₹200 per sovereign today, settling at ₹64,400 from yesterday’s all-time peak of ₹64,600.
The recent surge saw prices rise by ₹160, pushing gold to an unprecedented high. However, today’s decline has caught many by surprise. The per-gram price has also dipped by ₹25, bringing it to ₹8,050.
Just a month ago, on January 22, gold breached the ₹60,000 mark per sovereign for the first time in history. Since then, prices have been on an upward trajectory, rapidly crossing ₹64,000. While analysts speculated that gold might soon break the ₹65,000 psychological barrier, the unexpected drop signals a momentary pause in its rally.
Market experts attribute these fluctuations to global economic trends, stock market volatility, and uncertainty surrounding Donald Trump’s political resurgence, which has driven investors toward gold as a safe-haven asset.
