Gold price falls before Trump; witnesses drop of more than Rs 1000

THIRUVANANTHAPURAM: Gold prices have fallen sharply in the state today. There is a drop of Rs 1320 for one sovereign. With this, the present market price of a sovereign is Rs 57,600. The price per gram has been reduced by Rs 165. With this, one gram of 22 carat gold will not cost Rs 7200. A gram of 18 carat gold is Rs 5930. There is no change in the price of silver today. The price of silver per gram is Rs 99.

Gold prices have fallen since November 1. This month there was an increase only yesterday. International gold prices fell by $80 to $2,660. The price crossed 58,000 on October 19 and 59,000 on October 29. The lowest gold price in recent times was Rs 56,200 recorded on October 10. It is also noteworthy that the price of gram has been above Rs 7000 since last month.

This is the first time in a long time that the price of gold, which soared like a rocket, has fallen by more than Rs 1000. There were reports that the US election results will influence the gold market. With Trump being elected as president, the gold predicted to cross Rs 60,000 has come down.

Trump will take over as US president in January 2025 after completing the election procedures. However, it is estimated that the policies adopted by Trump may create movements in the economic field of the United States and the world. Meantime, assessments are also active that the price of gold is less likely to soar.