Gold price nosedives; one sovereign of gold down to Rs 39,200
The price of one sovereign of gold in the state has nosedived to Rs 39,200 on Wednesday after declining by Rs 1,600. One gram of gold is currently priced at Rs 4,900.
The price of gold has been coming down for the past three days. On Tuesday, the price had reached Rs 40,800 after the price came down by Rs 800. In the last four days, the price of one sovereign of gold came down by Rs 2,800.
The reduction in the price of gold in the international market was reflected in the domestic market also. One ounce of pure gold at the international market is priced at Rs 1,872.61 dollars.
In the national market, the price of 10 grams of 24 carat gold reached Rs 50,441 after a reduction of Rs 1,500.