Gold prices have fallen again today, offering relief to buyers looking to make purchases. The price of 22-carat gold in Kerala has dropped by ₹320 per piece, now standing at ₹64,080. The per-gram price has also declined by ₹40 to ₹8,010, while 18-carat gold now costs ₹6,554 per gram after a ₹33 decrease. This trend follows a recent peak, and industry experts suggest that booking in advance could be beneficial as prices remain volatile.
The decline in gold prices is in line with trends in the global market, where the price of an ounce has dropped from $2,919 to $2,906. The depreciation of the Indian rupee against the US dollar has also played a role in price fluctuations. Meanwhile, crude oil prices have shown some recovery, and Bitcoin has experienced a sharp decline. Market analysts suggest that large-scale selling of gold internationally has contributed to the current price dip.
Despite the drop, the overall cost of purchasing gold jewelry, including making charges and taxes, is still estimated to be around ₹69,000 per piece. Gold prices in Kerala are influenced by the global gold rate and the rupee-dollar exchange rate, which traders monitor daily. Buyers hoping for further price reductions should keep an eye on market movements, as rates could continue to fluctuate.
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