Gold price soars to Rs 41,320 per sovereign
Gold price in Kerala soared to Rs 41,320 per sovereign, an increase of Rs 120 on Thursday. Now, one gram of gold costs Rs 5,165.
In the last two days, gold price has increased by Rs 1,040. Gold price rose by Rs 920 on Wednesday alone.
In the last six days, gold price has increased by Rs 1,320 per sovereign. On July 31, gold price crossed Rs 40,000 per sovereign for the first time. Since July, the price of the precious yellow metal has increased by Rs 5,520.
In the international market, one Troy Ounce (31.1 gram) of gold is being traded for USD 2,039.75. The increase in international gold rate was reflected in the national market also.
The coronavirus pandemic and the subsequent financial crisis, the trade dispute between US and China and the India-China border issue have contributed to the increase in gold price.