Gold Prices Hit Record High in Kerala, Surpassing Rs 55,000 Mark

For the first time, gold prices in Kerala have crossed the Rs 55,000 threshold. On Monday, the price for a sovereign of gold increased by Rs 400, bringing the new price to Rs 55,120. Consequently, the cost of a gram of gold now stands at Rs 6,890. Earlier this year, on March 29, the price for a sovereign had already surpassed the Rs 50,000 mark.

Customers now face a minimum expenditure of Rs 60,000 to purchase a sovereign of gold when considering making charges, GST, and hallmark fees. The cost can escalate beyond Rs 70,000 for top design pieces.

The surge in international gold prices has significantly influenced the rising prices in the domestic market, leading to these unprecedented highs in Kerala.