Gold prices skyrocket, touch Rs 28,000
Kochi: Gold prices touched the all-time high mark of Rs 28,000 per sovereign (equivalent to 10 grams) and Rs 3500 per gram on Friday.
On August 1, gold marked a record price of Rs 25,680 per sovereign. It is reported that the gold prices rose by Rs 2,320 within 15 days.
At the same time, the gold price was at Rs 24,920 on July 2. According to experts, gold prices rose by Rs 9,280 within four years.
It is learned that fear of a global recession and demand for gold as a safe deposit led to the hike in gold prices.