Is this a setback for those getting married in month of Chingam? Change in gold price today

THIRUVANANTHAPURAM: With slight relief visible in US inflation, gold prices in the international market are making a strong comeback. In Kerala, the price of gold has increased by Rs 65 per gram today. With this, the market price has reached Rs 14,220 per gram. The price of one sovereign (8 grams) has increased by Rs 520, reaching Rs 1,13,760.

The present rise in gold prices is causing considerable concern among people waiting to buy gold for weddings and other needs. With more weddings expected in the coming months, a further increase in gold prices could seriously disrupt the wedding budgets of ordinary families. Gold has already increased by more than Rs 6,000 per sovereign this month alone.

Expectations that the US Federal Reserve, the country’s central bank, may cut interest rates have increased investor interest in gold. At the same time, the weakness of US bonds and the dollar has also been favourable for gold prices.

In recent days, there had been some selling pressure on gold amid indications that the war in West Asia could come to an end. However, renewed economic uncertainty in the United States is once again driving investors toward safe-haven assets such as gold. As the possibility of interest-rate cuts increases, more investors may turn toward gold, which could provide further support to prices.

Silver Price

There is no change in the price of silver in Kerala today. The market price of one gram silver is Rs 255. The price of 10 grams is Rs 2550 and for 100 grams Rs 25,500. The price of one kilogram of silver is Rs 2,55,00.