Increasing trend of the gold price!
Posted on: 06/Aug/2019 2:59:45 PM
There has been a steady increasing trend in the price of gold - it went up further today (Tuesday, 6th August) by Rs. 216 per sovereign. Thus, gold sold at Rs. 27896 per sovereign.
The price of gold has been especially increasing over the last few days. On Friday, 2nd August, the gold price shot up by Rs. 584 per sovereign in a single day! The price per sovereign has touched a new peak crossing the Rs. 27000 mark!
Subsequently, on Saturday, the gold price went up again by Rs. 264 per sovereign! It was sold at Rs. 37328 per sovereign.
As the subsequent day was a Sunday (holiday), there were no changes in the gold price. However, on Monday (yesterday, 5th August), the price of gold shot up again by Rs. 352 per sovereign. Gold was sold at Rs. 27680 per sovereign.
The traders informed that this is the 1st ever instance of the gold price shooting up this high in the history of jewellery gold sales!
Further, investments on gold have been increasing in the international market leading to the price increase of gold. These haphazard rising prices led to the middle-income/middle-class society into anxiety!
In the above scenario, the price of gold has gone up again today (Tuesday, 6th August) by Rs. 216 per sovereign.
In Chennai, jewellery gold is being sold at Rs. 27896 per sovereign. The price of jewellery gold per gram has increased from yesterday’s price by Rs. 27 and sold at Rs. 3487 per gram.
At the same time, the price of silver has come down by 10 Paise per gram. In retail trading, silver is being sold at Rs. 45.70 per gram. The price of bar silver has come down by Rs. 100 and is sold at Rs. 45700.
It is really worth noting the significant rise in the gold price – from the beginning of this month, 1st August, over the 6-day period as on today, the gold price has shot up by a huge Rs. 1416!
