Gold price drops after four days, know today’s rate

THIRUVANANTHAPURAM: A slight drop was seen in the price of gold in the state. The price of one gram fell by Rs 35 to Rs 13,930, while the price of one sovereign (8 grams) dropped by Rs 280 to Rs 1,11,440. The drop comes after gold prices surged by more than Rs 6,000 over four consecutive days. On Saturday, the price of one gram of gold was Rs 13,965, and that one sovereign Rs 1,11,720.

Several factors, including fluctuations in international markets and changes in the value of the US dollar, influence the continuous movement in gold prices. On January 29 this year, the price of one sovereign reached a record high of Rs 1,31,160. However, gold prices suffered a sharp setback as the conflict in West Asia intensified, falling to as low as Rs 1,02,760 at one point.

Traders said gold prices in the coming days will largely depend on the US Federal Reserve's interest-rate policy, the strength of the dollar, gold purchases by central banks worldwide, and geopolitical tensions.

Price of silver

The market price of silver in the state today is Rs 250 per gram. Ten grams costs Rs 2,500, while 100 grams is priced at Rs 25,000. A kilogram of silver costs Rs 2,50,000.