Thiruvananthapuram: The price of gold crossed ₹70,000 per sovereign for the first time in Kerala on Saturday, adding to the financial burden of consumers ahead of the Vishu festival and wedding season.

The price jumped by ₹120 to touch ₹70,160 per sovereign (8 grams), compared to ₹69,960 on Friday. The rate per gram increased from ₹8,745 to ₹8,770. Earlier this month, on April 8, gold had hit a monthly low of ₹8,225 per gram. With the addition of making charges, GST, and hallmarking fees, the final retail price is even higher — pushing the precious metal further out of reach for many.

Silver prices too saw an upward trend, rising by ₹2 to ₹110 per gram, while platinum went up by ₹14 to reach ₹2,626 per gram.

The surge in gold prices mirrors global trends, with mounting economic uncertainty and volatile equity markets pushing investors towards traditional safe-haven assets. Analysts point to intensified global economic tremors, worsened by renewed tariff tensions under former US President Donald Trump’s policies, as key triggers for the rally.

Despite US stock markets ending the week on a slightly positive note, investor anxiety over inflation, geopolitical risks, and slowing global growth continues to drive up demand for precious metals.

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