Trump's additional tariff policy backfires, gold at record high in Kerala

THIRUVANANTHAPURAM: Gold at record prices under the influence of US President Donald Trump's additional tariff policy. The highest gold price in history is being recorded in the state today. The price of a sovereign has increased by Rs 400 today. With this, the price of a sovereign of gold in the market today is Rs 68,480. It is estimated that when buying jewelry of a sovereign of gold, the price will exceed Rs 73,000 including the goods and services tax, cess and labor costs.

In Kerala, gold has increased by Rs 3,000 in the last nine days. There has been an increase of Rs 10,880 in the price of a sovereign of gold in the last three months. In Kerala, the price of a sovereign has increased by Rs 17,200 in a year. Silver prices have also risen, and the current market price of one gram of common silver is Rs 110.

With the increasing economic uncertainty in the global region, central banks and large funds are buying gold as a safe investment. This is causing the price of gold to soar in the international market. Other reasons for the rise in gold prices include the rupee's depreciation against the US dollar, which is increasing import costs, and central banks increasing their gold reserves in exchange for dollars in foreign exchange reserves.