Change in gold price on first day of month: Should jewelry buyers hold off?

KOCHI: The price of gold fell on the first day of this month. Gold price in the state fell by Rs 115 per gram to Rs 12,905. The price of a sovereign of gold today is Rs 1,03,240. There was a decrease of Rs 920 per sovereign today. The market opened at Rs 12,845 per gram yesterday morning, but it rose by Rs 175 per gram in the afternoon to reach Rs 13,020. As the price of gold increased after noon, the market closed at Rs 1,04,160 for a sovereign yesterday.

As the price of gold has been falling and rising for the past few days, people planning to buy jewelry are a bit concerned. The fact that the market price in the morning will not be the same in the afternoon is also holding back the jewelry lovers. The price of gold, which was on the rise in the beginning of last month, had fallen sharply on some days and then risen again.

Such fluctuations in the price of gold is a challenge for those planning to buy jewelry to choose the right time. Changes in the international market, fluctuations in the value of the dollar, and many other factors influence the continuous change in the price of gold.