Thiruvananthapuram: After experiencing a two-week decline, gold prices in the state have made a surprising turnaround today, on October 7th. The price of a sovereign (known as a pavan) of gold has surged by Rs. 200, bringing the market price to a current rate of Rs. 42,200. Over the past two days, this marks a total increase of Rs. 280. Even amidst economic fluctuations, Kerala’s demand for gold remains steadfast, largely driven by its deep cultural significance in weddings, festivals, and religious ceremonies.
Currently, the market price stands at Rs. 5,275 for one gram of 22 carat gold and Rs. 4,358 for one gram of 18 carat gold. Additionally, the price of silver has also seen an increase, bouncing back from a Rs. 5 decrease observed in the previous week. As of now, the market price for silver is Rs. 74 per gram, with hallmark silver prices remaining unchanged at Rs. 103 per gram.
Here’s a quick recap of the gold price trends over the last 10 days:
- September 28: The price of one pavan of gold saw a decline of Rs. 480, resulting in a market price of Rs. 43,120.
- September 29: The price of a sovereign of gold dropped by Rs. 200, reaching a market price of Rs. 42,920.
- September 30: A sovereign of gold witnessed a decrease of Rs. 240, bringing the market price to Rs. 42,680.
- October 1: Gold prices remained stable at Rs. 42,680 in the market.
- October 2: One sovereign of gold fell by Rs. 120, setting the market price at Rs. 42,560.
- October 3: A sovereign of gold experienced a decline of Rs. 480, resulting in a market price of Rs. 42,080.
- October 4: Gold prices remained steady at Rs. 42,080 in the market.
- October 5: A sovereign of gold saw a reduction of Rs. 160, with the market price standing at Rs. 41,960.
- October 6: Gold prices saw an increase of Rs. 80 per sovereign (pavan), reaching a market price of Rs. 42,000.
- October 7: The price of a sovereign (pavan) of gold surged by Rs. 200, bringing the market price to Rs. 42,200.
These fluctuations reflect the dynamic nature of the gold market, with recent trends indicating a positive turn in prices.