Kerala: Gold price hits ₹1.01L per sovereign
Gold prices in Kerala just hit a new high—one sovereign (8gm) now costs ₹1,01,600 after a jump of ₹220 per gram on Tuesday.
That's over ₹44,000 more than what it cost at the start of the year.
Why does this matter?
Kerala leads India in gold buying, especially for weddings where jewelry doubles as an emergency fund.
But with prices soaring past ₹1.13 lakh (after taxes and making charges), families are cutting back or swapping old gold for new.
To help out, jewelers are letting people lock in lower rates with advance bookings.
What's behind the surge?
It's mostly global stuff—geopolitical tensions, central banks stocking up on gold, and hopes for US interest rate cuts have all pushed prices up significantly this year.
A weaker US dollar is also making gold more attractive worldwide; even silver is nearing record highs right now.