Gold price will cross Rs 1.5 lakh per sovereign; what is going to happen in Kerala in coming days

THIRUVANANTHAPURAM: There is an increase in the price of gold in the state. There is a rise of Rs 110 per gram taking to Rs 14,540. With this, the price of one sovereign has increased by Rs 880. The market price of a sovereign of gold is Rs 1,16,320. If you want to buy jewelry of a sovereign today, you will have to pay approximately Rs 1,31,850 including 10 percent making charges fee. This is the amount including tax and hallmarking charges.

The price of gold has been falling continuously for the past few days. Meanwhile, the price increased unexpectedly today. There was a drop of Rs 45 yesterday for a gram of 22-carat gold taking to Rs 1,16,720 per sovereign.

The US, Israel-Iran tensions and the change in the exchange rate of the American dollar are the reasons for the increase in demand for gold. Even after three weeks of the war, there are few efforts to restore peace in West Asia. Investors believe that the war is unlikely to end anytime soon.

It is predicted that the price of gold will rise further in the context of the Iran war. It is common for metals like gold to rise in price during war situations. However, this did not happen in the Iran war. The demand for gold also exists. In this situation, predictions have been made that the price of gold will reach Rs 6,200 per ounce by the end of 2026. If this happens, the price of gold in Kerala could cross Rs 1.5 lakh per sovereign.