Drop in price of gold on Saturday, prices predicted to touch Rs 56,000 this year

THIRUVANANTHAPURAM: In a record jump, the price of one sovereign of gold crossed 50,000 for the first time in history and reached Rs. 50,400 yesterday. Today, the price of gold has decreased by Rs 200 for one sovereign. The price of one gram fell by Rs 25 to Rs 6278 today.

In a year, there is a difference of Rs 6,400 for one sovereign of gold in Kerala. As per predictions, the price of a sovereign of gold is expected to cross Rs 56,000 this year.

The leap in the price of gold is attributed to central banks of leading countries buying gold due to uncertainty in finances. The global price of gold is around $2,235. There has been a surge of Rs 11,000 for 10 grams of gold in the past one year.