Shocking surge in gold prices today: Highest rate of the month

THIRUVANANTHAPURAM: Gold prices in the state witnessed a significant hike today. The price of one sovereign rose by Rs 760, reaching Rs 75,040, while the price per gram increased by Rs 95, now standing at Rs 9,380. This marks the highest gold rate recorded so far this month. There was also an increase in prices yesterday, with a rise of Rs 840 per sovereign, setting the price at Rs 74,280. Over the past three days, gold prices have risen by a total of Rs 1,680, disappointing those who were waiting to make purchases.

At the beginning of July, gold prices had consistently declined. The lowest rate this month was recorded on July 9, when a sovereign cost Rs 72,000. However, prices began to rise sharply after July 18.

As of today, purchasing a gold ornament weighing one sovereign could cost up to Rs 81,500, depending on making charges. Ornaments with simpler designs will have lower making charges, while more intricate designs will cost more. Uncertainty over interest rate decisions by the U.S. Federal Reserve is also a major topic of discussion in the market, contributing to the volatility.

Meanwhile, sellers of old gold can expect to receive up to Rs 73,000 per sovereign today. Silver prices have also increased across the state. The price of silver has reached Rs 129 per gram and Rs 1,29,000 per kilogram, compared to Rs 128 per gram yesterday.