THIRUVANANTHAPURAM: After showing a dip in prices on Monday, the gold rates rose back to a historic high today in the state. By increasing Rs 840 at once, the gold rates crossed 62,000, a first in the state’s history.
As of Tuesday, one sovereign of gold will cost Rs 62,480. For one gram of 22-carat gold, the price rose by Rs 105 to Rs 7,810. For one gram of 18-carat gold, the price rose by Rs 90 to Rs 6,455. Rarely have gold prices seen such a rise in one day. Many were relieved to see the prices dropping by Rs 320 to Rs 61,640 on Monday, not knowing that things would go upside down in a day.
The reason for the increase in gold prices is the sharp fall in the value of the rupee. The rupee touched an all-time low of 87.18 against the dollar. The suspension of tariff measures by the Trump administration has hit gold in the global market, but the rise in prices here was due to the depreciation of the rupee.
There is no change in silver prices in the state today. The price of one gram of silver is Rs 106 and the price of one kilogram of silver is Rs 1,07,000.