The price of gold varies for different regions based on certain parameters such as the excise duty, making charges and state taxes.
Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 52,280 on Friday in twin cities of Bhubaneswar and Cuttack with an increase of Rs 30 from Thursday’s price.
For 23-carat, the price of 10 grams of yellow metal reached Rs 48,800 while the rate of 22-carat gold reached 46,880.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 42500, Rs 38200 and Rs 29800 respectively. Pure Ginni (gold coin) is traded at Rs 38,700 on Thursday.
On the other hand, one kilogram of silver is being sold at Rs 56,800 in Bhubaneswar, following an increase of Rs 800 from Wednesday’s price of Rs 56,000.
Notably, factors such as state taxes, excise duty, and making charges lead to changes in the price of gold in India.
On Multi Commodity Exchange, gold October futures were trading Rs 16 down at Rs 50,490 per 10 grams. Silver prices were up Rs 343 or 0.6 per cent to Rs 54,370 per kg.