Gold price rises by Rs 840 per sovereign, records this month’s highest rate

THIRUVANANTHAPURAM: The price of gold rose in Kerala on Friday. There is a rise of Rs 105 per gram. The price of one gram of gold has climbed to Rs 13,815, while the price of one sovereign (8 grams) surged by Rs 840 to Rs 1,10,520. This is the highest gold price recorded in the state so far this month.

Gold prices are also rising in international markets. A slight decline in the value of the US dollar and fluctuations in US bond yields is among the factors driving the increase in gold prices today.

Meanwhile, global crude oil prices fell by nearly one per cent on Friday. Progress in US-Iran talks and easing fears of war have contributed to the decline in international oil prices. Brent crude is currently trading at around $103 per barrel.

Crude oil price spikes generally contribute to inflation. To protect their investments against inflation, investors often turn to gold as a safe-haven asset, which can push gold prices higher. However, today's increase is primarily attributed to other economic factors, including movements in the US dollar.