Thiruvananthapuram: Gold prices in Kerala recorded a sharp increase today, pushing rates close to the ₹1 lakh mark once again. The price of gold rose by ₹840 per sovereign, taking the rate to ₹99,880. The price per gram increased by ₹105, reaching ₹12,485.
It was on December 23 that gold prices crossed the historic milestone of ₹1 lakh per sovereign for the first time in the state. In the international market, gold prices climbed by $18.32 per ounce to trade at $4,347.56.
At present, the price of 24-carat gold stands at ₹13,620 per gram and ₹1,08,960 per sovereign, while 18-carat gold is priced at ₹10,215 per gram and ₹81,720 per sovereign. Silver prices remain steady at ₹260 per gram and ₹2,60,000 per kilogram.
Rising geopolitical tensions, including the escalating US–Venezuela dispute and concerns over the possible failure of peace talks between Russia and Ukraine, have prompted investors to view gold as a safe-haven asset, driving prices higher.
With gold prices crossing the ₹1 lakh threshold, purchasing gold has become increasingly unaffordable for ordinary consumers and jewellery buyers. After adding 3 percent GST, hallmarking charges, and a minimum of 5 percent making charges, the cost of a single sovereign of gold jewellery now exceeds ₹1.05 lakh.
