Kochi: The gold market in Kerala witnessed a sharp and unexpected decline in prices today, presenting a prime opportunity for jewellery enthusiasts and investors alike. After several days of continuous increases, gold rates have retreated significantly, prompting buyers to rush to jewellers to capitalize on the drop.
At the start of this month, the price of 22-carat gold stood at Rs 87,000 per piece. It briefly fell to Rs 86,560 before surging to a record high of Rs 91,040 in recent days. Today, however, the price has dipped by Rs 1,360, bringing it down to Rs 89,680 per piece, while the per gram rate decreased by Rs 170 to Rs 11,210. Jewellery buyers who act promptly today or place advance bookings stand to gain, as any further decline will allow advance orders to be fulfilled at the lower prevailing rates.
Other gold carats also reflected the downward trend:
• 18-carat gold: Rs 9,220 per gram, down Rs 140.
• 14-carat gold: Rs 7,180 per gram.
• 9-carat gold: Rs 4,635 per gram.
Meanwhile, silver prices also fell slightly, declining by Rs 2 per gram to Rs 162. Market availability remains segmented: 24-carat coins and bars are on offer, while 22-carat gold is available in both jewellery and coins. Other carat types are primarily offered in jewellery.
Experts attribute the gold price dip to recent geopolitical developments, particularly the peace agreement between Israel and Hamas in Gaza. Stability in the region has eased market concerns, resulting in a drop in gold demand for investment purposes. Additionally, the fall in international crude oil prices has contributed to the easing of domestic gold prices. On the international market, gold has retreated from $4,060 per ounce to $3,960 per ounce, further influencing domestic rates.
For those planning to buy a piece of jewellery today, the total expected cost including a 5% making charge, 3% GST, and a hallmarking fee of Rs 60 would be approximately Rs 96,000 per piece of 22-carat gold jewellery.
With today’s rates, experts say this is one of the most opportune moments for jewellery purchases, especially for those seeking to invest in gold or make festive and wedding-related acquisitions. The sudden decline has created a rare window where buyers can secure high-quality jewellery at more affordable rates, combining both investment potential and personal use.