Thiruvananthapuram Gold Prices Plummet Again
Thiruvananthapuram witnessed another drop in gold prices today. The price of 22-carat gold fell by Rs 240 per gram to Rs 14,015, while one sovereign (8 grams) dropped by Rs 1,920 to Rs 1,12,120. This decline is reflective of the nearly 1.5% fall in international gold prices due to various adverse developments in global markets.
The rise in crude oil prices above $100 per barrel and growing concerns about higher inflation and increased interest-rate burdens have put pressure on gold prices. Yesterday's price had already seen a drop, with 22-carat gold falling by Rs 95 per gram to Rs 14,145 and one sovereign by Rs 760 to Rs 1,13,160.
Significant volatility has been witnessed in gold prices over the past month, with prices declining from Rs 15,030 per gram and Rs 1,20,240 for one sovereign on August 24. Silver prices also declined today, falling by Rs 10 per gram to Rs 245.