Rs 42,160 per sovereign: Gold price hits record high

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Gold price in India registered a record high on Tuesday. The rate of gold per sovereign increased by Rs 280 and reached Rs 42,160.

It has breached the Rs 42,000 per sovereign recorded on August 7, 2020, backed by the Covid-19-induced global crisis.

Prices dropped in phases after this. In March 2021, the price dropped to Rs 32,880.

The increase in prices in the global market got reflected in the country too. The weakening of the US Dollar also came as a gain for gold.

As per India’s commodity market MCX, the price of 10-gram 24-carat gold witnessed an increase of 4 percent and is trading at Rs 57,050. Spot gold rose 0.2 percent in the global market and reached $1,935.69.

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