Kerala Gold Rate November 5 2024: Gold price of 8 gram DROPS; check details
By Deepu Mohan | First Published Nov 5, 2024, 12:41 PM ISTGold prices in Kerala dropped today (Nov 5) by Rs 120 per 8 grams, bringing relief to the wedding market.
Thiruvananthapuram: The price of gold in the state dropped today (Nov 5) by Rs 120 for 8 grams. The market price of 22 carat one sovereign (8 grams) of gold is Rs 58,840.
The gold prices started decreasing from November 1 with a significant drop of Rs 560. On November 2, it dropped further by Rs 120 per 8 grams and the price remained the same for the next couple of days.
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It is indicated that large investors have started taking profits at elevated prices, which has led to a decline in market prices. There are expectations that gold prices may continue to drop in the coming days. This reduction in prices is seen as a significant relief for the wedding market.
The price of one gram of 22-carat gold is Rs 7,355, while the price of one gram of 18-carat gold is Rs 6,065. There is a drop of Re 1 in the price of silver, which is being sold at Rs 102 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 sovereing
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
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