Gold Price Jumps Back in Kerala: Sovereign Rises by ₹120 Amid Global Volatility

KOCHI: The price of gold in Kerala registered an upward movement today, halting recent fluctuations. The rate for a sovereign (8 grams) of 22-carat gold increased by ₹120, while the price per gram rose by ₹15.

Following the hike, the current trading price for a standard one-sovereign of gold stands at ₹90,320, and a single gram is priced at ₹11,290. The price of 18-carat gold also saw an increase, rising by ₹10 per gram to reach ₹9,280.

Market Dynamics and International Trends

The domestic gold price continues to reflect global and stock market movements. This rise follows a period of extreme volatility:

• Recent Highs & Dips: The price had jumped by a cumulative ₹1,320 per sovereign last Friday before dipping by ₹200 on Saturday.
• International Recovery: On the international front, the price per ounce, which had dropped as low as $3,962, has now recovered to trade around the $4,014 level, influencing the domestic market.

Silver Price Also Climbs

The price of silver also registered an increase today. One gram of 916 hallmarked silver rose by ₹3 and is currently trading at ₹160.