KOCHI: The price of gold has created a record in the New Year. The price of gold per sovereign is Rs 30,200. The price of gold per gram is Rs 3775. There was an increase of Rs 520 per sovereign today. The price of gold the other day was Rs 29,680 and per gram it was Rs 3710. Both are records. When compared to last month’s price of Rs 28,000, there was an increase of Rs 1680. There was a hike of Rs 210 per gram.

The price of gold has surged over the past two days due to the rising US-Iran escalations. The investors are withdrawing money from shares and are investing in gold. Experts attributed the rise in gold prices not only to changes in crude oil prices but also the weakening of dollar and lack of confidence in global trade.