Kerala Sovereign Gold Crosses Rs 99,000 — Jewellers Warn Rs 1 Lakh Before Onam

["Gold prices in Kerala touched a fresh record on Friday with one sovereign rising to Rs 99,240 in the morning session, up Rs 1,840 in a single day, as global spot gold crossed $3,380 per troy ounce driven by India-Pakistan ceasefire uncertainty and US dollar weakness.","Kerala Jewellery Association president M Anilkumar said if global gold sustains above $3,400, Kerala sovereign could cross Rs 1 lakh by early June \u2014 six weeks before Onam. Buyers who were waiting for a correction are now rushing in.","Jewellers in Thrissur Gold Market reported a 34 percent jump in walk-in customers on Friday. Most buyers are purchasing 2 to 5 gram coins as investment rather than jewellery sets. Gulf remittance for gold purchase has also surged this week.","For NRI Keralites, the surge means home-bought gold now costs more than Dubai gold even after import duty. Travel agents in Kochi and Kozhikode report increased gold-carrying requests from UAE and Saudi returnees."]