Post Covid-19 outbreak, the price of one sovereign gold had recently crossed Rs.43,000.
Coimbatore: Post the 'Covid-19' outbreak, in spite of most businesses being low, the price of gold continued to witness abnormal price increase. For the first time in history, the price of one sovereign gold has crossed the Rs.43,000 range.
After witnessing the historic price hike, gold rate dipped to Rs.34,000 per sovereign. Even as jewellery manufacturers and businessmen rejoiced at the hike, gold price has again hit the Rs.38,000 per sovereign mark.
Sources from the Coimbatore gold jewellery sector said, "Post the pandemic outbreak, more investments were made on gold, worldwide. This was the main reason why gold price continued to witness abnormal price increase while shops were closed due to lockdown implementation. After the Central and State governments started providing relaxations, the business also started to slow. The reduction in the price helped and gave some hope for consumers. But it was only temporary because the Indian rupee value continued to weaken and due to various other problems, gold price has again started to witness an upward trend in the recent days."
Price details of One Sovereign Gold (8 grams) witnessed at Coimbatore Market in recent days:
November 8: Rs.37,312
November 9: Rs.37,200
November 10: Rs.37,304
November 11: Rs.38,112
November 12: Rs.37,928
Sunday Holiday
Today (November 15): Rs. 38,024
After witnessing the historic price hike, gold rate dipped to Rs.34,000 per sovereign. Even as jewellery manufacturers and businessmen rejoiced at the hike, gold price has again hit the Rs.38,000 per sovereign mark.
Sources from the Coimbatore gold jewellery sector said, "Post the pandemic outbreak, more investments were made on gold, worldwide. This was the main reason why gold price continued to witness abnormal price increase while shops were closed due to lockdown implementation. After the Central and State governments started providing relaxations, the business also started to slow. The reduction in the price helped and gave some hope for consumers. But it was only temporary because the Indian rupee value continued to weaken and due to various other problems, gold price has again started to witness an upward trend in the recent days."
Price details of One Sovereign Gold (8 grams) witnessed at Coimbatore Market in recent days:
November 8: Rs.37,312
November 9: Rs.37,200
November 10: Rs.37,304
November 11: Rs.38,112
November 12: Rs.37,928
Sunday Holiday
Today (November 15): Rs. 38,024