Kochi: After hitting record highs this week, gold prices in Kerala have taken a sharp dip, offering much-needed relief to buyers. On Friday, the price of gold plunged by ₹1,360 per sovereign (8 grams), bringing the rate down to ₹89,680 per sovereign. The price per gram also fell by ₹170, now standing at ₹11,210.
Just a day earlier, gold had crossed the historic ₹90,000 mark, peaking at ₹91,040 per sovereign — the highest ever in the state. The sudden correction of over ₹1,000 in a single day has surprised market watchers and brought optimism to those planning festive or wedding purchases.
According to market experts, gold’s recent rally was driven by strong investor demand amid global economic uncertainty, as many turned to the yellow metal as a safe investment. The current dip follows changing trends in the international market, with expectations that the U.S. Federal Reserve may cut interest rates, triggering a global price adjustment.
Analysts say international price movements continue to have a direct and immediate impact on India’s gold market, making fluctuations like this a reflection of broader global shifts.
