Gold price drops by Rs 600; touches Rs 34,200 per sovereign
The gold price declined by Rs 600 and touched Rs 34,200 per sovereign. One gram of gold costs Rs Rs 4275. Gold price had escalated to a record high of Rs 35,040 per sovereign on May 18 and then started declining steadily.
The gold price has been around Rs 34,800 for the past three days. Then the price suddenly dropped by Rs 600 on Wednesday.
The price of gold is at the lowest rate in the last two weeks in the international market. Gold is sold at 1710.01 dollars per ounce. The price of other precious metals like silver and platinum also dropped.