THIRUVANANTHAPURAM: There is a sharp rise in the price of gold today setting a new record. The price of a sovereign of gold is Rs 64,560 after a rise of Rs 280. One gram of 22-carat gold is priced at Rs 8,070 and one gram of 24-carat gold is priced at Rs 8,804. The price of a sovereign of gold was increased by Rs 520 yesterday. This is the third time in February that the price of a sovereign has crossed Rs 64,000. The lowest gold price was recorded on February 3. The price of a sovereign was Rs 61,640 then.

The price of gold crossed Rs 60,000 for the first time on January 22nd and was a record. There was an increase of Rs 4,000 in a month. To buy jewelry of one sovereign, one has to pay more than Rs 70,000 including making charges and GST. Changes in the international market are causing the jump in gold prices.

The main reason is the increased demand for gold as a safe investment following the uncertainty in the market after Donald Trump took office as president in the United States. Experts in this field pointed that the price of gold is likely to increase further as China's economic strategies are also in place.

Price of silver today
The price of silver in the state remained unchanged for the last two days. The price of one gram of silver is Rs 108 and the price of one kilogram of silver is Rs 108,000.