Gold price surging; rise of Rs 520 today alone, gold buyers concerned

THIRUVANANTHAPURAM: There was a huge rise in the price of gold in the state for the third consecutive day. The price of a sovereign of gold today is Rs 75,760 after an increase of Rs 520. The price per gram is Rs 9470 after a rise of Rs 65. This is the highest gold rate recorded this month. The price of gold yesterday was Rs 75,240 and Rs 9,405 per gram. The international price of gold rose from $ 3,400 to $ 3,423 per ounce today. The rate of one gram of 24-carat gold today is Rs 10,261 and the price of a sovereign is Rs 82, 648. The rate of a gram of 18-carat is Rs 7,696 and the price of a sovereign is Rs 61,568.

The lowest gold rate recorded this month was on August 1. The price of a sovereign then was Rs 73,200 and the price per gram was Rs 9,150. A person buying gold of a sovereign will have to spend Rs 81,000 today. This jewelry is available at a lower making charge. Meantime, the making charge will increase for jewelry with more designs. People selling old gold today may get up to Rs 72,000 per sovereign. The increase in gold prices during wedding season is causing concern among those waiting to buy jewelry. Trade analysts assess that the rate of a gram will cross Rs 10,000 in the coming days.

Meantime, there has been a slight decline in the price of silver today. Today, the rate is Rs 129.90 per gram and Rs 1,29,900 per kilogram. The price of silver was Rs 130 per gram and Rs 1,30,000 per kilogram yesterday. The price of silver in Kerala is determined according to the international market. The fluctuations in the value of the rupee compared to the dollar will also affect the price of silver.