Gold Price Falls for Second Day in Kerala, Silver Remains Steady
For the second consecutive day, the price of gold has decreased in Kerala. One sovereign of gold decreased by Rs 320, bringing the current market price to Rs 53,400. The price of 22-carat gold per gram fell by Rs 40 to Rs 6,675, while 18-carat gold fell by Rs 5 to Rs 5,560 per gram. Over the span of two days, the price of gold dropped by Rs 400.
In contrast, the price of silver remains unchanged in the market, with one gram of silver priced at Rs 90. Hallmark Silver is priced at Rs 103 per gram.
Amidst these market fluctuations, the Reserve Bank of India (RBI) is actively diversifying its foreign exchange reserves by purchasing a significant amount of gold. From January to March, the RBI bought 19 tonnes of gold, reflecting a strategic move to bolster reserves against potential emergencies, especially as inflation is anticipated to surge.
