KOZHIKODE: The price of gold is soaring in the state. An increase of Rs 1040 was recorded today. This is the first such price hike in recent times.

The price of a sovereign today is Rs 40,560. After a rise of Rs 130 per gram, the price of gold per gram is Rs 5070. There was an increase of Rs 3840 in two months. The gold price rose to record highs after the rise in global markets following the Russia-Ukraine conflict. According to experts, the rupee has depreciated further. On August 7, 2020, the highest price ever recorded in the state was Rs 42,000.

Apart from gold, the price of silver has also increased. The price of gold futures in MCX, country’s commodity market, is Rs 55,190 after a rise of 1.4 per cent per 10 grams.