Gold price continues to rise for 7th consecutive day; at Rs 39,200
Kochi: Gold price increased to a record high for the seventh consecutive day in the state. One sovereign of gold touched Rs 39,200, an increase of Rs 600 on Tuesday. One gram of gold is priced at Rs 4,900.
If this trend continues, one sovereign of gold will cross Rs 40,000 shortly. The increase in gold price in the international market is reflected in the domestic market as well.
In the international market, the price of one ounce of spot gold has increased to 1,975 dollars. That is an increase of 160 dollars in 6 market centres. Meanwhile, in the national market, 10 grams of pure gold has reached Rs 52,410.
The surge in gold price is caused by the increasing tension between USA and China as well as the crisis faced by different nations due to COVID pandemic.