Gold prices have surged to a historic high, with the price of one sovereign (24-carat gold) reaching Rs 60,200 for the first time ever in Kerala. On Wednesday, the price rose by Rs 600, marking a massive jump of Rs 3,000 in just three weeks. The price per gram also increased by Rs 75, now standing at Rs 7,525.

The rise in gold prices is attributed to growing global economic concerns, especially following the inauguration of Donald Trump as the 47th President of the United States. A 0.6 percent decline in the value of the dollar against major currencies has also contributed to the price hike.

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Global, national gold prices

In the international market, spot gold prices reached USD 2,719 per troy ounce. On India's Multi Commodity Exchange (MCX), the price for 10 grams of 24-carat gold hit Rs 81,413, reflecting the upward trend in global and domestic markets.