Gold prices in the state continue to surge, breaking records after crossing the ₹1 lakh mark per sovereign. On Wednesday, the price of gold increased by ₹280 per sovereign, taking the rate to ₹1,01,880. The price per gram rose by ₹35 to ₹12,735.
Gold crossed ₹1 lakh for the first time on Tuesday. With the addition of making charges and taxes, the final cost for consumers is expected to be higher.
On Tuesday alone, the price jumped by ₹1,760 per sovereign. At the beginning of the month, gold was priced at ₹95,680 per sovereign. On the 9th of the month, the price fell to its lowest level at ₹94,920, before beginning a steady upward climb in the following days.
Factors such as fluctuations in the value of the rupee, interest rate cuts by the US Federal Reserve, and volatility in the stock markets are influencing the rise in gold prices.
