As of October 28, gold prices dropped after it reached record price on October 26.
Thiruvananthapuram: The gold prices in the state have dropped today (Oct 28) by Rs 360 per 8 grams after it reached the record price on October 26. The price for one sovereign (8 gm) of gold is Rs 58,520.
The gold prices dropped in the first days of October but later soared to all-time record prices. The prices dropped a little on October 24 following fluctuations in global market, bringing a slight relief to the consumers.
While the market analysts predict that prices will continue to rise, today's price drop is primarily attributed to investors selling gold to cash-in on profits.
The price of one gram of 22-carat gold today is Rs 7,315, while one gram of 18-carat gold is priced at Rs 6,025. The silver prices also remain unchanged, with the current price of one gram of silver at Rs 104.
Gold Prices in October at a Glance
October 1: The price of one pavan (8 grams) of gold decreased by Rs 240, bringing the market price to Rs 56,400.
October 2: Price increased by Rs 400, raising the market price to Rs 56,800.
October 3: Price rose by Rs 80, resulting in a market price of Rs 56,880.
October 4: Price increased again by Rs 80, leading to a market price of Rs 56,960.
October 5: No change in gold prices; the market price remains at Rs 56,960.
October 6: No change
October 7: Price dropped by Rs 20 per gram taking the price of one sovereign to Rs 56,800.
October 8: No change
October 9: Price drops by Rs 70 per gram, with price of one sovereign at Rs 56,240
October 10: Price drops by Rs 5 per gram, taking price of 8 grams of gold to Rs 56,200
October 11: Price rises by Rs 70 per gram, with price of one sovereign at Rs 56,760
October 12: Gold prices rise by Rs 200 per 8 grams, with price reaching Rs 56,960
October 13: No change
October 14: No change
October 15: Price drop by Rs 25 per gram, with one sovereign sold at Rs 56,760
October 16: Gold prices rise by Rs 45 per gram taking price of 8 grams to Rs 57,120
October 17: Gold prices gone up by Rs 160 per 8 gram with prices reaching Rs 57,280
October 18: Significant surge of Rs 640 per sovereign and prices reached Rs 57,920
October 19: Prices go up by Rs 480 per 8 grams with price reaching Rs 58,240
October 20: No change
October 21: Prices on upward trend with another Rs 160 surge taking the price of 8 gram of gold to Rs 58,400
October 22: No change
October 23: Gold prices rises against by Rs 320 per 8 grams with market price at Rs 58,720
October 24: Gold prices dropped by Rs 440 per 8 grams and market price is at Rs 58,280
October 25: Gold prices rises by Rs 80 per gram with market price at Rs 58,360
October 26: Gold prices soar by Rs 520 per sovereign and the market price reached Rs 58,880
October 27: No change
October 28: Gold prices drop by Rs 360, taking the market price to Rs 58,520