Price of gold rise further; Check today’s rate

THIRUVANANTHAPURAM: There is a slight increase in the price of gold on Tuesday. The price of one gram of gold has risen by Rs 15. The price of one gram is Rs 14,185. With an increase of Rs 120 per sovereign, the price of gold today stands at Rs 1,13,480. The price of one sovereign yesterday was Rs 1,13,240. Meantime, the price of silver has reduced today. The price of one gram of silver is Rs 255, while 10 grams is priced at Rs 2,550.

Movements in the international market are the primary factor reflected in gold prices in Kerala. Among the key factors supporting gold prices globally are continued uncertainty surrounding conflicts in West Asia and fluctuations in the US dollar. Meantime, the possibility of high interest rates continuing in the current international market is exerting some pressure on the rise in gold prices.

As economic and political uncertainty increases globally, the tendency to view gold as a safe-haven investment becomes stronger, contributing to an increase in gold prices. This, in turn, raises investment demand for gold and provides support to prices.

Central bank purchases are also a major factor in the global gold market. In India, gold prices are influenced not only by international rates but also by factors such as the value of the rupee against the US dollar, import costs, and domestic demand. Therefore, even a small change in the global market can be reflected in gold prices in Kerala.