Gold soars past ₹72,000, price up by ₹14,920 per sovereign this year

Thiruvananthapuram: Gold continued trading at the highest rate in Kerala’s history on Monday, with prices rising by ₹560 per sovereign and ₹70 per gram today. With this, gold is trading at ₹9,015 per gram and ₹72,120 per sovereign.

This is the first time in the state’s history that gold prices have crossed the ₹72,000 mark per sovereign. For the past three days, gold was being traded at ₹8,945 per gram and ₹71,560 per sovereign. At the beginning of the month, on April 1, the price stood at ₹68,080 per sovereign. In just 21 days, the price has risen by a staggering ₹4,040.

On April 17, gold prices hit a record high both in Kerala and at the national and international levels. The international price surged to $3,341 per ounce, triggering a fresh all-time high in domestic markets as well.

Even 18-carat gold, which had offered some relief to buyers, has become more expensive. It is currently trading at ₹7,410 per gram and ₹59,280 per sovereign. With no signs of easing in international conflicts or tariff disputes, experts say there is no immediate reason to expect a fall in gold prices.

The number of people investing in gold as a safe-haven asset continues to rise. Compared to last year, gold has delivered a gain of nearly ₹19,000 per sovereign.

With Akshaya Tritiya approaching on April 30 and the wedding season around the corner, the price hike may pose a minor inconvenience. However, according to the All Kerala Gold and Silver Merchants Association (AKGSMA), the increase has not significantly affected sales.