Gold Prices Drop In Kerala: Rs 7,085 Per Gram.

Gold prices have taken a downturn this week with 22K gold rates dropping to Rs 69,037 per 10 grams and 24K gold rates falling to Rs 75,313 per 10 grams on Tuesday. For 1 sovereign (8 grams) the gold costs Rs 56,680 as Rs 1,080 has dipped and 1 gram of 916 gold costs drop Rs 135 reaching Rs 7, 085  today in Kerala.

Gold prices in India have taken a hit since Donald Trump‘s US presidential election win, dropping due to a stronger dollar and higher treasury yields.

Additionally, the Federal Reserve’s decision to reduce interest rates and the anticipated 0.25% decrease in interest rates have also been a major reason for the decline.

If gold prices close below $2,650, they may drop to $2,610-$2,580. However, if prices rise above $2,680, they may reach $2,710. Trump’s presidency is expected to impact gold prices. His policies may lead to fluctuations in the market that may cause gold prices to rise or fall.

Last week, gold prices dropped significantly with a decline of Rs 165 per gram and Rs 1,320 per sovereign on Thursday. The current price of gold stands at Rs 7,200 per gram and Rs 57,600 per sovereign.

On October 30, gold rates reached an all-time high and the 22-carat gold rate increased by Rs 65 per gram to Rs 7,440 and by Rs 520 to Rs 59, 520 per sovereign (8-gram). 18-carat gold has increased by Rs 55 to Rs 6,130 per gram, while silver bullion costs Rs 106, up by Rs 1.

Also read| Gold Price Leap Continues: Reaches Rs 5,8880 Per Sovereign On Saturday

This marks an all-time high for gold prices in India’s domestic market and Investors and consumers are advised to keep an eye on market trends for further fluctuations.

Gold and silver prices fluctuate due to various factors including global demand, currency values, interest rates and government regulations. Global events, such as economic changes and the strength of the US dollar also impact prices.

Also, read| Gold Prices See Significant Drop After US Election Result