Gold price falls after yesterday’s surge; Today’s rate

THIRUVANANTHAPURAM: The price of gold recorded a slight decline in the state on Wednesday. The price of 22-carat gold fell by Rs 95 per gram to Rs 14,145. The price of one sovereign (8 grams) dropped by Rs 760 to Rs 1,13,160. The price of 22-carat gold had risen yesterday by Rs 110 per gram to Rs 14,240, while the price of one pavan increased by Rs 880 to Rs 1,13,920. Today’s decline comes after that sharp rise.

The gold was priced at Rs 15,030 per gram and Rs 1,20,240 per sovereign on August 24. However, prices declined in the following days. Gold prices have witnessed considerable volatility over the past month. The decline in international gold prices by more than one per cent yesterday was reflected in domestic prices. Rising tensions in West Asia have increased concerns over persistent inflation and strengthened expectations that high interest rates may continue. This contributed to the slight decline in international gold prices.

Factors influencing gold prices

• Federal Reserve interest-rate policy
• Movements in value of US dollar
• US Treasury bond yields
• Labour market data
• Global economic uncertainty

Silver Price
There was no change in the price of silver in the state today. Silver is priced at Rs 255 per gram. The market price is Rs 2,550 for 10 grams and Rs 25,500 for 100 grams. A kilogram of silver costs Rs 2,55,000 today.