Kochi: After a record-breaking rally, gold prices in Kerala have taken a sharp dip, falling ₹560 today to settle at ₹75,000 per sovereign (8 grams). The price per gram now stands at ₹9,375, down ₹70.
The correction began on Saturday, just a day after gold hit its all-time high of ₹75,760 per sovereign. In total, prices have shed ₹760 over the past two days.
Gold had crossed the ₹75,000 mark on August 23 before briefly slipping below ₹74,000, then rebounding to fresh highs. At the start of this month, prices were at ₹73,200 — meaning the metal gained over ₹2,500 within a week before its latest retreat.
Market analysts attribute the recent volatility to global factors, including the U.S. decision to hike tariffs on gold imports from India, which has put pressure on prices.
