'No better time to purchase'; Gold price falls for second consecutive day in Kerala
THIRUVANANTHAPURAM: For a second consecutive day, the price of gold has decreased in Kerala. The price of one sovereign of gold decreased by Rs 320. The current market price of one sovereign of gold is Rs 53,400. The price of 22-carat gold per gram fell by Rs 40 per gram and is now priced at Rs 6,675. The price of 18-carat gold fell by Rs 5 to Rs 5,560 per gram. In two days, the price of gold dropped by Rs 400.
Meanwhile, the price of silver remains unchanged in the market. The market price of one gram of silver is Rs 90. Hallmark Silver is priced at Rs 103 per gram.
As part of diversifying its foreign exchange reserves, the Reserve Bank is buying a large amount of gold. RBI bought 19 tonnes of gold in the three months from January to March. Last year there was an increase of 16 tonnes in gold reserves. The RBI is increasing its gold reserves to meet any emergency as inflation is expected to surge.
May 14 Rs 53,400
May 13 Rs 53,720
May 12 Rs 53,800
May 11 Rs 53,800
May 10 Rs 53,600
May 09 Rs 52,920
May 08 Rs 53,000
May 07 Rs 53,080
May 06 Rs 52,840
May 05 Rs 52,680
May 04 Rs 52680
May 03 Rs 52680
May 02 Rs 53,000
May 01 Rs 52,440