As of October 16, gold prices have risen in the state by Rs 360 per sovereign (8 grams) and cross Rs 57,000 for the first time.
Thiruvananthapuram: The gold prices in the state have surged today (Oct 15), by Rs 360 per 8 grams and cross Rs 57,000 for the first time. The price for one sovereign (8 gm) of gold is Rs 57,120.
The gold prices dropped in the first days of October but later touched at an all-time records price of Rs 56,960. It again dropped by Rs 200 on October 15 but reached record price today.
The price of gold in Kerala has risen following a global surge, with international prices crossing the $2700 mark. As of today, the Indian rupee's exchange rate stands at 84.04. Consequently, the bank rate for 24-carat gold bar has surpassed Rs 79 lakh per kilogram.
The increased demand for gold as a safe-haven investment has driven up prices. To purchase one pavun (8 grams) of gold, buyers would need to shell out at least Rs 62,000, factoring in a 5% making charge, 3% GST, and other applicable charges.
The price of one gram of 22-carat gold today is Rs 7,140, while one gram of 18-carat gold is priced at Rs 5,900. The silver prices are unchanged, with the current price of one gram of silver at Rs 98.
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