Gold Prices Fall in Kerala Ahead of Onam Celebrations

Gold prices in Kerala saw a decline of Rs 20 per gram today, providing some relief to consumers ahead of Onam celebrations. The current price of one gram of gold is now at Rs 15,010. Additionally, the rate for one sovereign of gold decreased by Rs 160 to Rs 1,20,080.

This drop in prices seems to be a welcome respite as rates were showing signs of rising over the past few days. Just yesterday, the price of a gram increased by Rs 80 to Rs 15,030, and the rate for one sovereign of gold rose by Rs 640 to Rs 1,20,240.

In comparison, last year's price for a sovereign of gold on August 24 was Rs 74,520, representing a significant increase of 62% in just a year. Furthermore, yesterday marked a 17% rise from the low rate seen in June.

The silver market also witnessed a decline, with prices falling by Rs 10 to Rs 265 per gram. The current market price for silver stands at Rs 2,650 for 10 grams and Rs 26,500 for 100 grams, indicating that one kilogram of silver will cost Rs 2,65,000 today.