Kerala Gold Rate November 11 2024: Price of 8 gram gold DROPS below Rs 58,000; check details
By Deepu Mohan | First Published Nov 11, 2024, 1:05 PM ISTGold prices in Kerala have dropped today (Nov 11) taking the price below Rs 58,000 per 8 grams.
Thiruvananthapuram: The price of gold in the state has dropped today (Nov 11) by Rs 440 for 8 grams. The market price of 22 carat one sovereign (8 grams) of gold is Rs 57,760.
Global demand for gold, fluctuations in currency, interest rates, and government policies are the key factors affecting gold prices. Additionally, the overall state of the economy and the value of the US dollar against other currencies also determine gold prices in the Indian market.
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After Donald Trump took power in the US, gold prices saw a significant drop on Thursday but it surged on Friday. The US Federal Reserve's policies also led to this increase in gold prices, but since then, gold prices have been declining.
The price of one gram of 22-carat gold is Rs 7220, while one gram of 18-carat gold is priced at Rs 5950. The price of silver has also gone down, dropping by Re 1 to reach Rs 100 per gram.
Here’s a summary of the gold price changes in November:
November 1: Gold price drops by Rs 560 with the market dropping to Rs 59,080 for one sovereign
November 2: Gold price drops further by Rs 120 with the market prices at Rs 58,960 for 8 grams
November 3: No change
November 4: No change
November 5: Price drop of Rs 120 per 8 gram of gold as the market price reaches Rs 58,840
November 6: Gold price rises by Rs 80 per 8 grams taking the market price to Rs 58,920
November 7: Gold prices drops by Rs 1320 per 8 grams. One of the largest drops in gold prices take the market price to Rs 57,600
November 8: Gold price rises by Rs 680 per 8 grams taking the market price to Rs 58,280
November 9: Price drops by Rs 80 per 8 grams with market price at Rs 58,200
November 10: No change
November 11: Another drop of Rs 440 per 8 grams takes the gold price to Rs 57,760
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