Thiruvananthapuram: Gold prices in Kerala witnessed a sharp increase yet again, continuing the upward trend seen over recent days. On Monday, the price of gold rose by ₹600 per sovereign (8 grams), bringing the cost to ₹74,960 per sovereign. Meanwhile, the price of 22-carat gold rose by ₹75 per gram, pushing the current rate to ₹9,370.
This jump comes after a period of steady decline that followed the all-time high recorded on July 23. However, the tide has turned, and experts attribute the latest surge to a combination of global market trends and local demand shifts. International bullion prices have seen a mild rebound, and local sentiments are being shaped by traditional seasonal factors.
One such local influence is the Karkidakam month observed in Kerala, during which auspicious buying is usually low. However, this is expected to change dramatically in the coming weeks as the wedding season approaches.
Jewellers across the state report a noticeable increase in customers making advance bookings for gold. With prices expected to climb further, many are opting to lock in current rates to avoid higher costs later. Under most jewellery schemes, buyers can benefit from whichever price is lower either on the day of booking or the day of purchase making early booking a practical choice.
As Kerala prepares for its festive and matrimonial season, industry insiders anticipate a further rise in prices, driven by increased demand and speculative buying. Consumers are advised to stay updated on daily rates and make their purchases accordingly.