Gold price @ Rs 38,600 per sovereign; hits new high in international market
Gold price has hit a new high in international market causing a surge in the domestic market as well.
One sovereign of gold reached Rs 38,600 after a sudden increase of Rs 480 in the state. One gram of gold costs Rs 4,825. This is the sixth consecutive day the gold price reached a record high in Kerala. With this, there has been an increase of Rs 9,600 in the price of one sovereign gold this year alone.
The US- China tension and the fall in value of dollar has caused the increase of gold price in the international market. The expectation that central banks of various countries would declare a relief package due to the transmission of the pandemic has also increased the demand of gold.
Thus, the value of gold recorded in 2011 September has been surpassed. Spot gold has reached 1,928 dollars per ounce afer an increase of 1.5 percent. In the national market, cost of 10 grams of pure gold has reached Rs 51,833 after an increase of Rs 800.