THIRUVANANTHAPURAM: A major drop was recorded in the price of gold in the state today. A sovereign of gold fell by Rs 1400 taking to Rs 88,360. The price per gram reduced by Rs 175 taking to Rs 11,045. This is the biggest change seen in the last ten days. The price of gold had increased yesterday. The price of a sovereign was Rs 89,760 after an increase of Rs 600. Today's change gives great hope in the gold market.

The highest gold rates were recorded on October 17 and 21. The price of a sovereign was Rs 97,360 and Rs 12,170 per gram. This was the highest rate recorded so far this year. India is the world's largest gold consumer. Tons of gold are imported into the country every year. Therefore, even small movements in the global market will be reflected in the gold prices in India.

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