Kochi: In a dramatic reversal after record highs, gold prices in Kerala have witnessed another sharp fall, with the price of one sovereign plunging by ₹6,640 in a single day. The current price of a sovereign (8 grams) now stands at ₹1,11,120, bringing relief to buyers who had stayed away during the recent surge.
The per-gram price of gold dropped by ₹830, settling at ₹13,890 per gram today.
This is the third consecutive day of heavy correction in gold prices. On Saturday alone, the sovereign rate had fallen by ₹6,320, followed by today’s even steeper decline. Notably, gold had crossed the ₹1 lakh milestone for the first time on December 23, marking a historic peak.
Experts say the Kerala gold market continues to mirror fluctuations in the international bullion market, driven by growing global uncertainty. Geopolitical tensions have added to the volatility, including US President Donald Trump’s warning of higher tariffs on European countries opposing US views on Greenland, along with reports that the United States is considering military action against Iran.
These global developments have unsettled international markets, triggering a sharp correction in gold prices and significantly impacting local rates.
