Kerala Gold Rate November 7 2024: Price of 8 gram gold DROPS below Rs 58,000; check details

Gold prices in Kerala have dropped today (Nov 7) after slight rise of Rs 80 per 8 grams yesterday.

Thiruvananthapuram: The price of gold in the state has dropped significantly today (Nov 7) by Rs 1320 for 8 grams. The market price of 22 carat one sovereign (8 grams) of gold is Rs 57,600.

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 followed by a drop of Rs 120 on November 5. There was a slight increase of Rs 80 per 8 grams on November 6.

International gold prices plummeted by $80 to reach $1,660. Meanwhile, the Indian Rupee has hit an all-time low, weakening to 84.32 against the US Dollar.

The price of one gram of 22-carat gold is Rs 7,200, while the price of one gram of 18-carat gold is Rs 5,930. Silver is being sold at Rs 99 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

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