Gold price hits new record, crosses Rs 44,000 on Saturday

KOCHI: Creating a new record, the price of gold in Kerala has crossed Rs 44,000. On Saturday, the price of 22 carat gold increased by Rs 1,200 to Rs 44,240 for 8 grams. The sale was at Rs 5,530 per gram, a surge of Rs 150. This is a one-time record increase in gold prices. On Friday, the price for 8 grams rose by Rs 200 to Rs 43,040. In a week, gold prices jumped by Rs 3,520.

According to yesterday's rate, it would cost Rs 48,000 to buy 1 sovereign of gold after adding a minimum of five percent labour cost and three percent GST.

Silver prices have also increased. The cost for 8 grams has increased by Rs 10.40 to Rs 595.20 and Rs 1.30 to Rs 74.40 per gram.