Gold prices in Kochi plunged below the ₹1 lakh mark per sovereign, sending ripples through the market. The decline came in two sharp phases on the same day, with prices falling by ₹4,360 in the morning and an additional ₹3,200 by afternoon, settling at ₹99,480. In total, gold lost ₹7,560 in a single day, while the monthly decline has now reached a staggering ₹31,800 per sovereign—marking one of the steepest drops in recent times.
Adding to the economic concerns, the Indian rupee weakened further against the US dollar, opening at a record low of ₹93.93 and showing signs of slipping towards ₹94. Analysts warn that the combined effect of falling gold prices and a weakening currency could create volatility in financial markets, keeping investors and traders on edge.
