PRICES OF GOLD INCREASES SHARPLY PERHAPS OWING TO SHORTAGE OF GOLD IN THE COUNTRY

Accordingly, the price of a 24-carat gold sovereign has risen to Rs. 167,000 while a 22-carat gold sovereign has risen to Rs. 154,500.

According to those engaged in the jewelry industry, currently there is a shortage of gold in the market.

Therefore, they point out that gold prices are expected to rise even further making it harder for them to keep the jewelry industry going.