Gold Prices Decline in Kerala After Sharp Rise

The price of gold declined in the Indian state of Kerala on Wednesday, following a sharp rise yesterday. The 22-carat gold price dropped by Rs 95 per gram to Rs 14,145, while one sovereign (8 grams) fell by Rs 760 to Rs 1,13,160.

This decline comes after a significant increase in the price of gold on Tuesday, with a rise of Rs 110 per gram to Rs 14,240 for 22-carat gold and a gain of Rs 880 to Rs 1,13,920 for one pavan. However, gold prices have been volatile over the past month.

The decline in international gold prices by more than one percent yesterday reflected in domestic prices, due to rising tensions in West Asia. This has increased concerns about persistent inflation and strengthened expectations of high interest rates continuing.