Gold price rise by Rs 680 in a single day, hits record high, touches 77,000

THIRUVANANTHAPURAM: There is a major rise in the price of gold in the state today. The price of a sovereign of gold is Rs 77,640 after a rise of Rs 680. The price per gram is Rs 9,705 after an increase of Rs 85. This is the first time the price of a sovereign crossing Rs 77,000. The gold is presently trading at its highest rate this month. The rate for one gram of 24-carat gold today is Rs 10,588 and for one sovereign is Rs 84,704. The rate for one gram of 18-carat gold is Rs 7,941 and for one sovereign is Rs 63,528.

India is the world's largest consumer of gold. Tons of gold are imported into the country every year. Therefore, even small movements in the global market are basically reflected in the price of gold in India. If the price of gold falls in the international market, it is not necessary that the price in India will fall. The value of rupee, local demand, and import duties play a major role in determining the price of gold in India.

One buying gold today will have to pay Rs 84,245 for a sovereign of gold. This ornament will be available at low making charges. Meantime, the making charge for ornaments with more designs will be more. Those who sell old gold today may get up to Rs 75,000 per sovereign.

There has also been an increase in the price of silver in the state. It is Rs 136 per gram today and Rs 1,36,000 per kilogram of silver. Yesterday, the price was Rs 135 per gram and Rs 1,35,000 per kilogram. The price of silver in Kerala is determined according to the international market. The fluctuations in the value of the rupee compared to the dollar will also affect the price of silver.