Gold price hits new high of Rs 35,760 per sovereign
Gold price has hit a new high of Rs 35,760 per sovereign with an increase of Rs 240 on Wednesday. One gram of the precious yellow metal now costs Rs 4,470.
The highest price previously recorded was two days ago on June 22 when gold reached Rs 35,368 per sovereign.
Gold price has increased in the global market also. Spot gold price increased 0.2 percent per ounce to the rate of Rs 1,769.59. The price of 10 grams of pure gold increased to Rs 48,333 in the national market.
Gold price hike is based on the evaluations that the government launching new financial packages to prevent the spread of coronavirus would increase the demand for gold. The decrease in dollar exchange rate also increased the gold price.