KOCHI: The price of gold is sharply increasing day by day. There was a rise of Rs 640 today. With this, the price of a sovereign has reached Rs 64,480. There was a rise of Rs 280 for a sovereign yesterday. An increase of Rs 3,000 was witnessed in the last one week. If the same trend continues, the price of gold may cross Rs 65,000 tomorrow or the day after tomorrow, and Rs 70,000 in a week or two.

Today, the price of gold in the international market has crossed $ 2,900. Yesterday, gold in the international market increased by $ 40 per ounce. For the first time in history, the price of gold in the international market has exceeded $ 2,900 per ounce.

Gold is gaining popularity as a global currency alternative to the US dollar. Along with this, the increase in import costs due to the depreciation of the rupee against the dollar has also led to the increase in prices. The price of 24-carat gold bars has reached Rs 87.3 lakh per kilogram.