TV
Gold prices continue to rise daily, causing concerns during the wedding season. Due to global market instability, gold rates have been skyrocketing and heading to breach Rs 80,000 per 10 grams mark.
As of today in Bhubaneswar, the price of 22-carat gold stands at Rs 77,400 per 10 grams while 24-carat gold is priced at Rs 84,400 per 10 grams. Last week, gold prices increased significantly by thousands of rupees.
According to experts, global market instability is a major reason behind this surge. Investors seeking safe investments are preferring gold over the dollar, leading to higher demand and rising prices. If this market uncertainty continues, experts predict that gold prices may rise even further in the coming days.
Factors Influencing Gold Rates
Gold rates in Odisha are influenced by various factors, including international market prices, currency exchange rates, and local demand. The state's rich mineral deposits, including gold, contribute to its significance in the precious metals market.
Odisha's gold prices are also affected by state taxes. The demand for gold typically peaks during festive seasons and wedding periods, which can cause fluctuations in prices.
Also Read: Gold price spike creates pre-wedding season anxiety in Odisha
Gold Investment Trends
While traditional forms of gold investment such as jewelry, coins, and bullions remain popular in Odisha, there is a growing interest in modern investment options. Exchange Traded Funds (ETFs), sovereign gold bonds, and digital gold are gaining traction among investors.
These electronic and digital forms of gold investment often align closely with local gold prices, providing alternatives to physical gold ownership. The trend reflects a shift in investment strategies, particularly among younger generations, who are exploring diverse ways to include gold in their portfolios while balancing traditional cultural preferences with modern financial instruments.
