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Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 51,500 on Thursday in twin cities of Bhubaneswar and Cuttack with a decrease of Rs 250 from Wednesday’s price.
For 23-carat, the price of 10 grams of yellow metal reached Rs 48,200 while the rate of 22-carat gold reached Rs 46,230.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 42000, Rs 37700 and Rs 29400, respectively. Pure Ginni (gold coin) is being traded at Rs 38,200 on Thursday.
On the other hand, one kilogram of silver is being sold at Rs 58700 (with GST) in Bhubaneswar on Thursday with a decrease of Rs 500 from yesterday's price of Rs 58,200.
Notably, factors such as state taxes, excise duty, and making charges lead to changes in the price of gold in India.
The price of silver in India is determined by changes in prices internationally. It also depends on the movement of the rupee against the dollar. If the rupee falls against its international counterpart and the prices remain consistent internationally, silver ends up becoming dearer.