Gold prices to cross Rs 1 lakh? Prices rise again on Saturday

KOCHI: Duly following the global market trend, the gold prices in the state have increased for the second consecutive day in Kerala. With Saturday’s increase in Rs 160, one sovereign of gold in Kerala now costs a humungous Rs 53,480. The price of one gram of gold in Kerala has reached Rs 6,685. On Friday, the gold price was reported as Rs 53,320.

The rise in gold prices is not something to be piled upon the West Asia skirmish. The war is now idle and has little to do with the gold prices. It is the wobbling economic situation of the US which is contributing to the soaring gold prices across the global market.

At the current price, customers will have to shell out more than Rs 58,000 for buying gold. The sudden volatility in the gold market is also giving headaches for investors. It was earlier reported that the price of gold will rise considering the possibility of conflict in West Asia, between Iran and Israel.

Another such report has presaged the price of gold in India reaching One Lakh Rupees shortly. According to a report by CNBC Awas, Mahendra Lunia of Vighnahartha Gold had earlier remarked that gold prices will reach Rs 1,68,000 per ten grams in 2030.