Gold price goes up for 4th consecutive day, hits Rs 31,800 for sovereign
Gold price hit an all-time high as it reached Rs 31,800 for a sovereign on Monday. There has been an increase of Rs 320 from the earlier price. A gram of gold is priced at Rs 3,975.
This is the fourth consecutive day that gold price is witnessing a surge.
In the last 20 days there has been an increase of Rs 1,880 for a sovereign of gold.
Gold recorded Rs 29,920 on February 6, which was the lowest price for the month.
Gold price is at its highest in the past seven years in the global market. The price surge has been attributed due to anxiety caused by the Coronavirus world over.
The investment world predicts the price to go further up in the coming days. Meanwhile, with the price going up there has been a dip in the demand for gold in the market.