Gold gets cheaper with price fall for 3rd straight day, silver becomes costlier

Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram has decreased to Rs 5,1850 on Friday in Bhubaneswar from yesterday’s price of Rs 51,900.

This is the third drop in the price of the yellow metal in the past three days. 

The prices of 23-carat and 22-carat gold per 10 grams have decreased by 100 to Rs 50,000 and Rs 48,900 respectively.

Similarly, the rate of 20, 18 and 14-carat gold decreased to Rs 44,200, Rs 40,000 and Rs 31,600 respectively. Pure Ginni (gold coin) is being traded at Rs 40,300 today instead of yesterday’s price of Rs 40,400.

Meanwhile, gold is being traded at Rs 5,250 per gram (GST 995) and at Rs 5,180 (Cash 995) in Cuttack.

On the other hand, the price of one kilogram of silver is being sold at Rs 54,500 in Bhubaneswar.

Notably, factors such as state taxes, excise duty, and making charges lead to changes in the price of gold in India.

The rupee to 79.59 against the US dollar in opening trade on Wednesday, as disappointing macroeconomic data and US-China tensions weighed on investor sentiment.