In September, the price of gold rose and fell multiple times, with notable changes including a Rs 2160 increase between September 20 and 27 and slight drop towards the end of the month. In the first day of October, gold prices dropped further but has risen on October 3.
Thiruvananthapuram: Gold prices in the Kerala soared to an all-time high today (October 1). With a single-day increase of Rs 80, the price of one sovereign (8 grams) of gold now stands at Rs 56,880.
Yesterday, trading occurred at record prices, mirroring the trend in international markets. Geopolitical tensions have significantly contributed to the surge in gold prices. Factors such as tensions in the Middle East and China's additional economic stimulus are influencing gold prices. Last Friday, gold prices reached an all-time high. Although prices subsequently decreased by around Rs 400, they surged again yesterday.
The primary reason for the surge in gold prices is the significant investment in gold as a safe haven asset. The price of one gram of 22-carat gold increased by Rs 10 today, reaching Rs 7,110 while 24-carat gold rate is Rs 7,756 per gram and 18-carat gold is priced at Rs 5,817 per gram. . Silver prices remain unchanged at Rs 101 per gram.
Here is a summary of the gold price fluctuations in the past few days:
September 16: Price rose by Rs 120 to Rs 55,040.
September 17: Price dropped by Rs 120 to Rs 54,920.
September 18: Price further decreased by Rs 120 to Rs 54,800.
September 19: A final drop of Rs 200 brings the price to Rs 54,600.
September 20: Price surged by a significant Rs 480 to Rs Rs 55,080.
September 21: Price increased by Rs 600 to Rs 55, 680.
September 22: No change.
September 23: Price increased by Rs 160 to Rs 55, 840.
September 24: Another Rs 160 hike takes the price Rs 56,000.
September 25: With a Rs 60 surge per gram, the price of 8 gm gold is Rs 56,480
September 26: No change.
September 27: Gold prices surge by Rs 40 per gram, taking the price of 8 grams to Rs 56,800
September 28: Gold prices drop by Rs 5 per gram, with the price of 8 grams standing at Rs 56,760
September 29: No change
September 30: Gold prices dropped by Rs 15 per gram
October 1: The prices of gold dropped further by Rs 40 per gram, taking the price of 8 grams to Rs 56,400
October 2: The price of 8 gram gold increased by Rs 400, with the market price at Rs 56,800
October 3: The price of 8 gram of gold increased by Rs 80, with the market price at Rs 56,880