Gold price skyrocketed in Kerala; Marks Rs 40,560, Asian stocks rebound

Gold prices in the state skyrocketed and mark a high rate. On Wednesday, the gold price rose by Rs 1,040. With this, the price of a sovereign is Rs 40,560. A gram is priced at Rs 5070, an increase of Rs 130. This is the first time in recent times gold witnessed such a huge hike. This is an increase of Rs 3,840 over two months when compared to January’s rate of Rs 36,720.

As the Russia-Ukraine war continues, rising prices in international markets and inflation have led to the rise in prices in the country. It was on August 7, 2020, gold recorded an all-time high price of Rs 42,000. Also, Asian stocks rebounded on Wednesday after Wall Street declined and Chinese inflation edged higher. Not only gold, but oil prices also rose further, after US President Joe Biden’s ban on all Russian Oil exports.

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