KOCHI: International gold prices rose to $ 2,069 an ounce yesterday. This is the highest price in a year and a half. The main reason for the rise in prices is the decision of European countries to reduce imports from Russia, a leading gold exporter.
The fact that investors withdrawing from the stock market are also relying on gold as a safe haven, further leads to rising prices. The international market may soon surpass the record of $ 2,075 set in August 2020.
In Kerala, the price of gold is likely to rise by Rs 100 per gram and Rs 800 per sovereign today. With that, the price of gold will cross Rs 5000 per gram and Rs 40,000 per sovereign.