THIRUVANANTHAPURAM: The price of gold reached a record high in Kerala on Monday with the price rising by Rs 160 and reaching an all-time high price of Rs 35,680 per sovereign. The price of one gram of gold is Rs 4460. Considering the making charge, tax and cess, a customer will have to spend at least Rs 39,000 for buying one sovereign of gold.

The price of gold had increased twice on Saturday. It is learnt that the India-China clash at Ladakh, the depreciation of the rupee and the purchasing of gold in large quantities as a safe investment have led to the skyrocketing of gold price. The price of gold has increased in the state by Rs 6650 per sovereign in this year. In January, the price of gold was Rs 29,000 per sovereign.

India holds the second position when it comes to gold consumption in the world while China stands at number 1.