Kochi, Saturday, July 23, 2011: The price of gold on Saturday increased by Rs 80 as it reaches Rs 17, 280 per eight grams. The price of gold per gram is Rs 2160.

Gold is seen as a safe investment and added to this comes the reduction of the value of rupee in comparison with the dollar. Kerala has one of the highest consumptions of gold and silver ornaments in the country.

Traditionally, gold had been the most ideal mode of investment among the people of Kerala and also as jewellery. People in large scale are moving towards more investment in gold, considering yellow metal as a safe investment.