Increase of Rs. 2,600 yesterday: Gold prices blast past new highs with Rs 1,09,840 per sovereign

KOCHI: Gold and silver prices have hit a record high as global economic uncertainty has intensified. With the influx of money into gold, a safe haven during the crisis, the international price has crossed $4,730 per ounce (31.1 grams) for the first time in history.

The sovereign price in Kerala rose by 3,160 at one point to reach Rs 1,10,400. The price changed four times yesterday. When trading ended, the price fell to Rs 1,09,840. The reason for the sharp rise in gold prices is the intense confrontation between US President Donald Trump and European countries over Greenland. The price of silver hit a record high of Rs 3.15 lakh per kilogram yesterday.