Gold Rate Drops To Below Rs 90,000 Per Sovereign

Gold prices have fallen below Rs 90,000 per sovereign in Kerala after a steady hike for the past couple of weeks, reaching close to one lakh. The drop in the price is attributed to factors like profit-taking after festive highs, a stronger dollar, and improved global confidence in trade deals.

However, despite the reverse correction, many analysts have claimed the development as temporary, given the ongoing global uncertainties. The price decline for the second straight session is a happy moment for retail buyers of gold.

Read Also: Gold Price Hits All-Time High At Rs 94,360 Per Sovereign, Expected To Rise Further

Earlier this month, the gold price had hit all-time high, nearing one lakh per sovereign, continuing its upward trajectory.

Read Also: Gold Price Closer To Rs 1 Lakh Per Sovereign; Hits 97,360 Today