Gold Price Hits 1,05,320 Rupees per Sovereign; Continues Upward Trend

The upward trend in gold prices showed no signs of slowing on Wednesday. After hitting an all-time high on Tuesday, the price of gold continued to rise, with one sovereign (8 grams) gaining 800 rupees, reaching 1,05,320 rupees. Yesterday, the price of one soverign was 1,04,520 rupees.

The price of gold per gram also increased from 13,065 rupees yesterday to 13,165 rupees today.

Since crossing the symbolic 1 lakh rupees per soverign mark last December, gold prices have continued to climb intermittently. Global uncertainties and unstable conditions are motivating people to invest in gold, contributing to the price hike. Domestic economic instability, the weakening of the Indian rupee against the US dollar, and higher import duties have further fueled volatility in the market, influencing the upward movement in gold prices.