Gold Price Surges by ₹800 per Sovereign in Keralam; ₹6,000 Rise in Four Days

Thiruvananthapuram: Gold prices in Keralam continued their sharp upward trend on Saturday, with the price of one sovereign rising by ₹800 in a single day to ₹1,11,720. The price of one gram increased by ₹100 to ₹13,965.

Gold has gained ₹6,000 in just four days, reflecting the strong volatility in both international and domestic markets.

The precious metal has staged a strong recovery in global markets amid a decline in crude oil prices. Several factors, including movements in international oil prices, have influenced the latest rise in gold prices. Market analysts expect fluctuations in gold prices to continue in the coming days as the situation in West Asia remains uncertain.

Changes in the international market are generally reflected in domestic gold prices. The US dollar-rupee exchange rate and import duties, among other factors, also play a significant role in determining gold prices in India.

India is among the world's largest consumers of gold and imports large quantities of the metal every year. As a result, even relatively small movements in international markets can have a direct impact on domestic gold prices.