Gold price leaps; rises Rs 2400 in one go; Rs 94,360 for a sovereign

THIRUVANANTHAPURAM: A biggest leap in the price of gold in the state. There was a rise of Rs 2400 in one go for a sovereign. With this, the price of a sovereign is Rs 94,360. Gold prices had fallen in the past few days on the hope of a peaceful atmosphere in West Asia.

Today's record increase in gold prices is a setback to these expectations. This is a big setback for those who were expecting a drop in the price of gold. The price of a gram is Rs 11,795 after a rise of Rs 300.

One will have to pay Rs 1,02,500 to buy ornament of a sovereign of gold, including making charges and taxes. Gold and silver merchant S Abdul Nasser responded to a news channel about the reasons for the rise in gold prices.

‘The price of gold has been increasing for the past two to three months. The price is soaring without limit. In three years, the international price of gold has gone from $2,200 to $4,165 per ounce. In a situation where other stock markets, including the stock market, have collapsed, gold has become an international currency. This surge is likely to continue,’ he said.