Gold price reaches historic high!

The price of Gold has hit an all time high today. In Chennai, one gram of 22 Carat Gold costs 3196 rupees, and 8 grams / 1 sovereign Gold costs 25,558 rupees, which happens to be a historic rise in price. Due to the international economic situation, price of gold in international market and the dollar value of Indian rupee, Gold price gets calculated.

Gold price has been constantly rising since December 2018, with the price on December 1 being 23,240 rupees  per sovereign gold. Since then the price just kept rising. On January 28, Gold prices hit a historic high of 25,000 per sovereign, and was sold at Rs 25,160. On February 2, a sovereign of Gold was priced at Rs 25,552.

After few days, the price slowly dipped, and reached Rs 25,160 per sovereign on February 14. However last week yet again the price raised by Rs 224 per sovereign, and reached Rs 25,384. Today, it has reached a massive 25,520 per sovereign and Rs 3,196 per gram. Due to the economic issues in the US, it has been expected that the price of Gold is set to increase further in the coming days.