The gold price in the state has dropped by Rs 1200 on Tuesday and touched Rs 37,680 per sovereign. One gram of the yellow metal costs Rs 4710.
Since November 1, when the price was at Rs 37,680, the price has been on the upward trend. On Monday, it was at Rs 38,880.
The price of spot gold in international market dropped by $100 and reached $1,849.93. This decrease was reflected in the domestic market.
However, spot gold slightly rose by 0.5% to $1,871.81 per ounce.
The decrease in the gold price is attributed to the US presidential election results and the favourable reports on the Covid-19 vaccine.
