Gold prices have hiked by Rs 620 per sovereign in one day, post elections.
Coimbatore: With the successful completion of the state assembly elections in Tamil Nadu, the price of gold has rocketed high. This has caused a major shock among the people.
Gold prices have hiked by Rs 620 per sovereign in one day. Post Covid-19, the investment in gold has been increasing day by day. This has affected the price of gold, which has been on the rise since then.
There was a hike earlier where 1 sovereign of gold was estimated at Rs 43,000. This has affected people majorly. Later, the Central Government decreased the gold import tax from 12.5% to 10.75% which directly reflected in the depreciation of gold price which was only decreased by 1000 rupees.
After a while, the gold rate went back to Rs 33,000 which gave a temporary relief to the people. But now, the price of gold is on the hike. It has increased by Rs 620 in one day per sovereign.
According to today's rate, 1 sovereign of gold is sold at Rs 36,480. This sudden hike has created panic among buyers.
Here’s the recent history of gold prices in Coimbatore market:
March 31: Rs 33,984
April 01 : Rs 34,368
April 02 : Rs 34,856
April 03 : Rs 34,864
April 04 : Market Closed
April 05 : Rs 34,856
April 06 : Market Closed
April 07 : Today at Rs 35,480