Gold price soars again; price per sovereign crosses Rs 81,000, huge rise expected in coming days 

THIRUVANANTHAPURAM: The price of gold has soared again. The price of a sovereign of gold today is Rs 81,040 after an increase of Rs 160. With this, the price of a gram of gold is Rs 10,130. The situation is that one has to pay Rs one lakh or more than that including making charges and GST for buying gold of one sovereign. Experts say the reason for the rise in gold price is that many people are investing in online trading. This situation is likely to continue presently. Since Diwali is approaching, the price of gold is likely to reach Rs 85,000.

Gold market observer and expert S Abdul Nasser said the reason for this rise is that gold has become the only reliable investment in the world. With the increase in price, interest in gold has decreased in the state. However, the trend is for interest to increase in Tamil Nadu and North India with Diwali. As investment interest increases during Diwali, demand will also increase.

The volatility in stock market, US tariff interventions, and the war situation in Europe and Central Asia are weakening currencies. In addition, uncertainty in the US has led to a decline in the value of the dollar against the Japanese yen, which has led to a shift in investments to gold.