THIRUVANANTHAPURAM: Gold remains the safest investment and savings of Malayalees. However, the occasional rises in gold prices are a matter of serious concern. The changes in the international market significantly affect the state market as well. The state’s gold price is determined on the basis of the international price of gold, Dollar-Currency exchange rate and the import duty. Gold prices in the state are escalating with an increase of Rs 800 to yesterday’s price.

The price of one gram gold is Rs 4680. It was Rs 4580, the previous day. There has been an increase of Rs 100. The price of one sovereign of gold has reached Rs 37,440 with an increase of Rs 800 to the last day’s price of Rs 36,640. The Russia-Ukraine conflict is evaluated to be the reason for the price hike.

The rising commodity prices in the national and international markets come as the Russian-Ukraine conflict point towards another world war. Concerns are in the air as the US President Joe Biden’s warning to the American citizens in Ukraine to immediately evacuate the country, signals towards a war.