Gold Prices Tumble: Sharp ₹2,200 Drop in a Day, ₹20,000 Fall in Three Weeks

Kochi: Gold prices in Kerala continue to decline sharply, sparking speculation on whether rates could soon fall below the ₹1 lakh mark. In a significant drop today, gold prices fell by ₹2,200 per sovereign (pavan), bringing the rate down to ₹1,07,040, while the per gram price decreased by ₹275 to ₹13,380. Over the past three weeks alone, gold has witnessed a steep fall of nearly ₹20,000, after touching a monthly high of ₹1,26,920 at the start of March. The recent downward trend follows an earlier surge driven by geopolitical tensions in West Asia, where gold gained as a safe-haven asset. Additional factors, including large-scale purchases by central banks worldwide, have also influenced market fluctuations. Notably, gold had hit a record ₹1,31,160 on January 29, and had first crossed the ₹1 lakh milestone on December 23. With prices continuing to slide, market observers are keenly watching whether gold could dip further in the coming days.