Kochi: Gold prices in Kerala staged a sharp comeback on Tuesday after a volatile start, underlining the intense fluctuations gripping the bullion market. After slipping by ₹1,040 per sovereign in the morning, prices rebounded dramatically by ₹1,600 by noon, pushing the price of one sovereign (8 grams) up to ₹1,12,880.
The rebound was equally reflected in per-gram rates, with gold rising by ₹200 to settle at ₹14,110 per gram.
Gold had touched a record high of ₹1,31,160 per sovereign on the 29th, but prices have since been on a downward trajectory. Over the past five days, the market has seen a cumulative drop of nearly ₹20,000 per sovereign, one of the steepest corrections in recent times.
The previous day also witnessed unusual volatility. Prices fell twice during the morning and afternoon sessions, only to recover sharply in the evening and night. While gold had declined by nearly ₹10,000 during the day, about ₹5,000 was regained later, highlighting the uncertainty in the market.
Gold prices in Kerala crossed the ₹1 lakh mark for the first time on December 23. Experts say international market movements and global economic instability continue to drive sharp swings in gold prices across the state, keeping buyers and investors on edge.
