Kochi: Gold prices in Kerala are on a sharp upward swing once again, nearing the ₹75,000 mark per sovereign. On Tuesday, the price jumped ₹600 in a single day, pushing the rate to ₹74,960 per sovereign (8 grams). The price per gram now stands at ₹9,370, after a proportional hike of ₹75.
Over the past four days, gold has seen a remarkable ₹1,800 increase, recovering strongly from last week’s dip. On August 1, the price stood at ₹73,200, but a consistent rise since then has brought the yellow metal close to its all-time high of ₹75,000, recorded on July 23.
After briefly slipping below ₹74,000, the trend has reversed sharply upward, fueled by multiple global and domestic factors. Key among them is the hike in US import tariffs on Indian gold, alongside a renewed surge in demand as investors view gold as a safe-haven asset amid global economic uncertainty.
Analysts expect the bullish trend to continue in the short term, with more buyers turning to gold for security and value preservation.
