Gold price falls by Rs 160 per sovereign; looms near Rs 30,000
Kozhikode: The price of gold metal fell by Rs 160 on Thursday and reached Rs 28,960 per sovereign.
One gram of gold is priced at Rs 3620.
On Wednesday gold price recorded a new high by crossing Rs 29,000 mark. It was Rs 29,120 per sovereign.
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 price.