Price of Gold rises by Rs 600 in domestic market in Kerala

Kochi, Dec 4 (Bureau) The price of gold was increased by Rs 600 and surged to Rs 36,720 per sovereign in the domestic market in Kerala, Market sources said on Friday. The price of one gram of gold touched Rs 4,590 after rising by Rs 75. The gold price was recorded at Rs 36,120 per sovereign on Wednesday. Following the decline of the dollar in the global market, the spot price of the yellow metal touched US $ 1830 per ounce. At the same time, 10 grams 24 carat gold was traded at Rs 49,172 in MCX (Multi Commodity Exchange) market. Though the price of gold decreased following the progress in Covid-19 vaccine development, the fall in dollar increased the gold price. After a single day surge of Rs 1040, the price of gold came down by Rs 800 per sovereign on August 19. With this, one sovereign of gold was priced at Rs 39,440. This was at Rs 40,240 on August 18 after recording an increase of twice in a day.