Gold Price Skyrockets, Hits Record Rs 1,31,160 Per Sovereign, Biggest Ever Single-Day Spike

Gold price has hit record Rs 1,31,160, per sovereign today, January 19. The biggest single day spike, the gold rate saw an uptick by Rs 8640.

The precious metal saw Rs 1080 jump in a single day, creating nightmare for the potential consumers.

On Wednesday, the price of gold had reached another record, hitting Rs 1,22,520 per sovereign in Kerala, with Silver has also surged to record price along with the precious metal.

India is the world’s second-largest consumer of gold and the biggest market for silver, and the country meets almost all of its gold demand through imports and relies on overseas supplies for more than 80% of its silver needs