Perpetual hike in gold price; soaring towards Rs 30,000
Kozhikode: Gold prices have hit a new life-time high on Wednesday. It reached Rs 29,120 per sovereign. One gram of the yellow metal is priced at Rs 3640.
The price was at Rs 28,800 per sovereign on August 29. It then fell to Rs 28,480 on September 1.
Within four years, gold price has increased by Rs 10,400. In 2015 August, the cost of one sovereign of gold was Rs 18,720.
Gobal economic slowdown and safe-haven appeal of gold have contributed to the increase in its cost.