Gold price reaches new high; Rs 38,120 per sovereign
Gold price has set a new record for the fifth consecutive day. The price of one sovereign of gold reached Rs 38,120 after a surge of Rs 240 on Saturday.
One gram of gold is priced at Rs 4,765. On Friday, the price of one sovereign of gold was Rs 37,880.
In the international market, the price of 1 Troy Ounce of gold crossed Rs 1,900 dollars for the first time since 2011. The tension between the US and China is reflected in the gold market.
The surge in gold price is caused by an increase in demand as it is considered to be a safe investment during the coronavirus crisis.