Kerala Gold Rate November 12 2024: Price of 8 gram gold DROPS below Rs 57,000; check details

Gold prices in Kerala have dropped today (Nov 12) taking the price below Rs 57,000 per 8 grams.

Thiruvananthapuram: Gold prices in the state have sharply dropped today, with a decrease of Rs 1,080 in just one day. Yesterday, the price of gold per gram fell by Rs 440. Over the past two days, the price has decreased by a total of Rs 1,520. The current market price for one sovereign (8 grams) of gold stands at Rs 56,680.

Following Donald Trump's rise to power, a significant drop in gold prices was recorded last Thursday. However, gold prices began to rise in the days that followed. Since Saturday, the market has seen a downward trend in gold prices. Key factors influencing gold prices include global demand, fluctuations in currencies, interest rates, and government policies.

The price of one gram of 22-carat gold is Rs 7,085, while 18-carat gold costs Rs 5,840 per gram. Silver prices have also fallen by Rs 2, with the price of one gram of hallmark silver now at ₹97.

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

November 12: Significant drop of Rs 1,080 per 8 grams bring the gold price to Rs 56,680