Gold Price Hits All-Time High At Rs 94,360 Per Sovereign, Expected To Rise Further
With international prices of gold and silver increasing day by day due to market fluctuations and geopolitical uncertainties, the gold price has hit an all-time high in India, crossing the previous highs each day.
On Tuesday, the price was recorded at Rs 94,360 per Sovereign in Kerala. The cost of gold continues its record-breaking rally over the past few weeks. The price saw an increase of ₹2,400 in a single day.
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According to Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan, the gold price is expected to continue their bull-run. However, downside correction risks are also rising, Times of India qouted the analyst.
As per the All Kerala Gold and Silver Merchants Association, which determines the daily bullion rate in the state based on international market trends and domestic conditions, the price of one gram of gold rose by Rs 300, to Rs 11,795.
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The price of one gram of gold rose by ₹300 to ₹11,795 (i.e. ₹1,17,950 for 10 gm), according to the All Kerala Gold and Silver Merchants Association, which determines the daily bullion rate in the state based on international market trends and domestic conditions. The rate of 18-karat gold has increased to ₹9,755 per gram.
