Gold price surges in Kerala to new all-time high

Kochi: The price of gold continues to rise in Kerala. The price  has increased by Rs 160, bringing the total to Rs 58,400 per sovereign (8 grams) on Monday. The cost for a gram increased by Rs 20 at Rs 7,800, marking the highest rate ever recorded. On Tuesday. the gold price remained the same. 

Earlier in the month, on September 30, the price of a sovereign of gold was Rs 56,640. The lowest recorded rate for this month was Rs 56,200, indicating an increase of Rs 2,200 since then. So far this year, the price of a sovereign of gold has surged by Rs 11,560.

On December 31, 2023, the price stood at Rs 46,840. The price crossed the Rs 50,000 mark on March 29, 2024, and surpassed Rs 55,000 on May 20. As on October 19, it has crossed a milestone of Rs 58,000.

At the current price, one would need to pay Rs 63,200 to purchase a sovereign of gold. This rate includes a 5 percent of lowest making charge, 3 percent GST, and Rs 45 for the Hallmark Unique Identification (HUID). As the making charge increases, the overall price also increases.

Market experts project that if the current trend continues, the price of gold could reach Rs 60,000 by the end of the year.