Stocks and gold follow record highs

Stocks and gold follow record highs


Refer Report

Kochi: Stock and gold markets continued to rally due to the interest rate cut by the US Federal Reserve. Investors’ assets increased by Rs 8.30 lakh crore in the last three days in the stock market. Sensex rose 384 points and Nifty 148 points yesterday. With this, Sensex reached close to 85,000 points and Nifty close to 26,000 points.

More investment has come into sectors like telecom, banking, realty, oil and gas. The trend of foreign investors buying large amounts of shares continues in the market.

In the United States, low interest rates make bank investments unattractive, and large amounts of investment are flowing into the stock market and gold. Gold prices are breaking records in the international market. It is trading at $2,630 per troy ounce (31.1 grams).


The price of one gram of gold in the state has reached close to Rs.7000. Yesterday, it increased by Rs 20 to Rs 6980 per gram. Pawan rose by Rs 160 to Rs 55,840.

This is the highest ever recorded in the state.

In the last 4 days, Pawan has increased by Rs.1240 and Rs.155 per gram. The increase over the last one year is Rs 11,880 per gram and Rs 1,485 per gram.

Along with low interest rates, the ongoing conflict in West Asia is also increasing the demand for gold as a safe-haven investment.

Source: Malayalam