THIRUVANANTHAPURAM: Gold prices in Kerala have surged to unprecedented levels, with a staggering hike of Rs 1,080 within just two days. The current price of gold stands at ₹55,680 per sovereign, with additional labour charges and GST taking the total cost to Rs 60,217.

The price per gram has increased by Rs 75 to reach Rs 6,960, breaking previous records. This surge follows global market trends, where gold prices have breached $2,622 per ounce.

Experts attribute the price hike to global economic uncertainties and escalating political tensions in West Asia, making gold an attractive safe-haven investment. Central banks in India and China have increased their gold reserves, further driving up prices.

In Kerala, jewellers charge up to 5% labour charges on gold ornaments, while GST stands at 3%. The price of 24-carat pure gold has nearing ₹77 lakh per kilogram.

The Federal Reserve's recent decision to cut interest rates by half a percentage point in the US has also boosted investor enthusiasm.