Gold prices surge during Onam season; Rose by Rs 3,160 in a single day, today’s rate

THIRUVANANTHAPURAM: A major rise was witnessed in the price of gold in Kerala. The price of one gram of gold has risen by Rs 395, taking the present price to Rs 14,600 per gram. The price of one sovereign (8 grams) has increased by Rs 3,160 to reach Rs 1,16,800. The rise in international gold prices has been reflected in Kerala’s gold market as well. The price hike during the Onam season is raising concerns among those planning to purchase gold. The gold was priced at Rs 14,205 per gram and Rs 1,13,640 per sovereign yesterday.

Central banks in various countries have continued to increase their gold purchases since June. According to World Gold Council data, central banks purchased a net 51 tonnes of gold in June, compared with 41 tonnes in May. Poland led the purchases during this period, adding 19 tonnes to its reserves. China’s central bank purchased 15 tonnes, while Uzbekistan added 9 tonnes. Kazakhstan and Singapore increased their reserves by 7 tonnes each. Jordan and the Czech Republic also purchased gold.

Silver Price
Silver prices have also increased in the state today. The price has risen by Rs 10 to Rs 260 per gram. The market price is Rs 2,600 for 10 grams and Rs 26,000 for 100 grams. A kilogram of silver will cost Rs 2,60,000 today.