Gold prices have reached unprecedented levels in Kerala, crossing ₹72,000 per sovereign for the first time in the state’s history. On Monday, the price increased by ₹560 per sovereign and ₹70 per gram, pushing the rate to ₹9,015 per gram and ₹72,120 per sovereign.
This sharp surge follows a consistent upward trend observed over the past few weeks. Just three days earlier, gold was being sold at ₹8,945 per gram. Since April 1, the price has climbed dramatically by ₹4,040 per sovereign, from ₹68,080 to the current rate. Over the year, gold has appreciated by nearly ₹14,920 per sovereign, delivering strong returns for investors.
The spike is attributed to global economic uncertainties, international conflicts, and the rising demand for gold as a safe-haven asset. On April 17, gold reached an all-time high on both domestic and international markets, with global prices touching $3,341 per ounce.
Even 18-carat gold, considered a more affordable alternative, has seen significant price increases, now selling at ₹7,410 per gram and ₹59,280 per sovereign.
With Akshaya Tritiya falling on April 30 and the wedding season approaching, demand for gold remains strong despite the price hike. According to the All Kerala Gold and Silver Merchants Association (AKGSMA), the steep prices have not drastically impacted customer purchases, indicating that consumer interest in gold remains resilient.
