Gold prices hit new high; to touch Rs 38,000 per sovereign soon
Gold prices surged for the fourth consecutive day in Kerala. On Friday, gold price increased by Rs 450 and touched Rs 37,880 per sovereign. A gram of gold is priced at Rs 4735.
On Thursday, gold prices rose by Rs 120 and reached Rs 37,400. It is reported that apart from the price hike in the international market, the gold prices continue to surge in India as the rupee depreciates against the dollar.
In the international market, gold price rose to USD 1,900 per ounce on Thursday, the price recorded USD 1,885.2 on Friday.
The gold price is increasing day by day as its demand increases as a secure deposit amid COVID-19 outbreak.