Gold Price Soars Past ₹78,000 Mark for the First Time, Climbs ₹5,000 in Just Two Weeks

Gold Price Soars Past ₹78,000 Mark for the First Time, Climbs ₹5,000 in Just Two Weeks

Kochi: Gold has once again proven to be the ultimate safe-haven asset, smashing all previous records as prices surged past the ₹78,000 mark for the first time in history. On Tuesday, the price of one sovereign (pavan) of gold in Kerala touched ₹78,440, with an increase of ₹640 per sovereign. In retail terms, gold rose ₹80 per gram, bringing the current rate to ₹9,805 per gram.

Just weeks ago, on August 8, gold was trading at ₹75,760 per sovereign. After slipping by over ₹2,300 in the following days, touching ₹73,440 on August 20, the yellow metal staged a remarkable comeback. In a span of just two weeks, prices have skyrocketed by nearly ₹5,000, leaving consumers stunned and investors jubilant.

Market experts attribute the rally to a mix of international and domestic triggers. The U.S. recently slapped a 50% import duty on Indian products, rattling investor confidence and dragging the Indian stock markets down. With equity markets under pressure and volatility on the rise, investors are increasingly shifting their money to gold traditionally seen as a safe store of value during uncertain times.

At the same time, global economic jitters, including U.S. tariff policies, slowing growth in China, and geopolitical tensions in West Asia, have further lifted demand for gold. The weakening rupee against the dollar has also played a key role in pushing up local gold prices.

While traders are witnessing brisk business from those looking at gold as an investment, ordinary consumers especially those preparing for weddings and festivals are feeling the pinch. Jewelers note that sales of heavy ornaments have dipped, with many customers preferring lightweight jewelry or even postponing purchases altogether.

Despite the steep rise, financial analysts warn that gold may continue its upward trajectory in the coming weeks if global uncertainties persist. For Kerala, where gold holds deep cultural significance, the record-breaking surge is both a celebration of the metal’s enduring value and a challenge for households that rely on it for traditional needs.


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