Thiruvananthapuram: Gold prices in Kerala witnessed a sharp decline today, pulling back from the historic ₹1 lakh mark. The price of one pavan (8 grams) fell by ₹2,240 to settle at ₹99,880, while the price per gram dropped by ₹280 to ₹12,485.
Gold prices had fallen four times on the previous day as well. On December 23, gold had crossed ₹1 lakh per pavan for the first time in history. In the international market, gold prices declined by $223 per ounce and are currently trading at around $4,325.
At present, the rate of 24-carat gold stands at ₹13,620 per gram and ₹1,08,960 per pavan, while 18-carat gold is priced at ₹10,193 per gram and ₹81,544 per pavan. Silver prices today are ₹258 per gram and ₹2,58,000 per kilogram.
Market experts say geopolitical tensions, including escalating differences between the US and Venezuela and concerns that Russia–Ukraine peace talks may fail, have encouraged investors to view gold as a safe-haven asset. However, with gold prices breaching the ₹1 lakh level recently, purchasing gold has become increasingly unaffordable for common buyers and jewellery enthusiasts.
After adding 3 percent GST, hallmarking charges, and a minimum of 5 percent making charges, the cost of a single pavan of gold jewellery now exceeds ₹1.10 lakh, putting further pressure on household budgets.
