THIRUVANANTHAPURAM: There is a drop in the price of gold for the second consecutive day in the state. Today, the price of a sovereign fell by Rs 720 to Rs 66,480. One gram of 22-carat gold was priced at Rs 8,310 and one gram of 24-carat gold was priced at Rs 9,066. Yesterday, the price of one sovereign fell by Rs 1,280 taking to Rs 67,200. This is the first time this year that there has been such a big fall in gold prices. This brings cheer to the Keralites.

The movements in the stock market and changes in the international market are reflected in the gold trade. On January 22, the price of a sovereign crossed sixty thousand for the first time in history. Meanwhile, predictions of a big fall in gold had come out in the past few days. John Mills, a market strategist at American financial institution Morningstar, has predicted that the price of gold will fall by about 38 percent.

Gold price in April
April 1 – Increase of Rs 680 for one sovereign. Market price Rs 68,080
April 2 – No change in gold price. Market price Rs 68,080
April 3 – Rise of Rs 400 for a sovereign. Market price Rs 68,480
April 4 – Drop of Rs 1,280 per sovereign. Market price Rs 67,200
April 5 - Drop of Rs 720 per sovereign. Market price 66,480