Gold price soars to Rs 39,720 per sovereign on Thursday
Gold price in Kerala increased to a record high for the eighth consecutive day. Following an increase of Rs 320 on Thursday, one sovereign of gold now costs Rs 39,720. Meanwhile, one gram of gold is priced at Rs 4,965 after a surge of Rs 45.
The price of one sovereign of gold is just Rs 280 short of the Rs 40,000 mark. At this rate, a customer will have to shell out Rs 44,000 including GST, cess and cost of production to buy an ornament.
One Troy Ounce of pure gold (31.1) is priced at 1,962.13 Dollars in the international market. The surge in gold price is caused by the global coronavirus economic crisis and other political conflicts.