Gold price rises by Rs 800; touches Rs 40,000 per sovereign again
The price of gold surged again by Rs 800 and has reached Rs 40,000 per sovereign in Kerala on Tuesday. The price of one gram of gold touched Rs 5000.
The price of one sovereign of gold had reached an all-time high of Rs 42,000 on August 7 and later dropped gradually to Rs 39,200. Later, the price started to rise again.
The price hike in the international market is reflected in the domestic market too. The price of spot gold reached 1,987.51 dollars per ounce in the international market. The drop in the dollar's value resulted in the sudden hike in gold price.