Good news for gold lovers; Price drops again, falls by Rs 1000

THIRUVANANTHAPURAM: There is a fall in the price of gold in the state today. One gram of 22-carat gold has fallen by Rs 125. Today's market price per gram is Rs 14,135. The price of one sovereign has fallen by Rs 1,000 today. The price per sovereign is Rs 1,13,080. The price was Rs 1,14,080 yesterday.

The situation is showing continuous changes in gold prices. The fall in gold prices in Kerala has come amid uncertainties regarding the end of the conflict between Iran and the US. The lowest gold price recorded this month is Rs 1,09,240. This price was recorded on April 2. Silver prices remain unchanged for three days. Today's market price of one gram of silver is Rs 275.

Meantime, the gold mortgage market in India is booming rapidly. The market share of gold mortgages has reached the second position in total retail loan distribution, according to TransUnion CIBIL's 'Gold Loan Landscape' report. Gold mortgage loans have grown 3.8 times since March 2022. With this, their share in the retail credit portfolio has increased from 5.9 percent to 11.1 percent.

There has also been a huge increase in loan amounts. The average loan amount, which was Rs 90,000 in the first quarter of 2022, increased to Rs 1.96 lakh in December last year. The total value of new loans sanctioned has increased by 5.1 times.