Gold prices in Kerala reached an unprecedented high on Friday, coming within ₹40 of the historic ₹70,000 per sovereign threshold. The price skyrocketed to ₹69,960 per sovereign, marking an increase of ₹1,480 in a single day. The per-gram rate rose sharply to ₹8,745 from ₹8,560 the day before. This is the steepest single-day hike in recent times, pushing the price up by ₹4,160 per sovereign and ₹520 per gram in just three days. The rapid climb has triggered unease among consumers, who now face heavier financial burdens when purchasing gold, especially once charges like GST, hallmarking, and making fees are included.
Jewellers across Kerala, particularly those aligned with the All Kerala Gold and Silver Merchants Association (AKGSMA), are also grappling with the price volatility. The chairman of AKGSMA, Dr. B Govindan of Bhima Group, confirmed that 18-carat gold rates also witnessed a significant rise, increasing by ₹155 to reach ₹7,245 per gram. Another AKGSMA-affiliated category led by S Abdul Nassar set the rate slightly lower at ₹7,200, reflecting a ₹150 hike. Meanwhile, silver prices remained stable at ₹105 per gram.
This dramatic surge in gold prices reflects a long-term upward trend seen over the decades. Gold, once priced at just ₹13.75 per sovereign in 1925, has steadily climbed over the years—crossing ₹1,500 in the 1980s, ₹12,000 by 2010, and reaching ₹50,200 by 2024. In just the first few months of 2025, prices have jumped by nearly ₹10,000 per sovereign. As Kerala’s gold-loving population watches prices approach the symbolic ₹70,000 level, jewellers anticipate a cautious market, with many customers possibly delaying purchases until the rates stabilize.
