Kozhikode: Continuing the downward trend, gold price fell by Rs 320 on Monday reaching Rs 38,560 per sovereign in the state. One gram of gold metal is priced at Rs 4,820.

The gold price was at Rs 38,880 for the past four days. Within last two weeks, the price per sovereign reduced from Rs 42,000 by 3,440.

Spot gold price was down by 0.3 percent to $1,933.37 per ounce in global market. This has reduced from over $2,000 within two weeks.

The decisions by US Federal Reserve and massive profit gain affected the gold prices.