Rajendra Prasad Mohapatra

The surge in gold prices continued to gain momentum as it hit a record new high in Odisha. The market price of the yellow metal reached a record high in Bhubaneswar on Sunday.

The gold price for 24 carats was recorded as Rs 51,730 per 10 gram in the State Capital City today. Earlier on February 4, price for 24 carats gold was recorded as Rs 49,650 per 10 gram. The price of the precious metal has surged around Rs 2,000 in the last 15 days.

Similarly, the gold price of 22 carats gold has increased from Rs 44,800 to Rs 46, 130 in the last 15 days.

However, the price of silver has been static at Rs 65,000 per kilogram.

As per market experts, the price of the gold has witnessed an unprecedented rise in the last 15 days following unrest in stock market in the wake of rising conflicts between Russia and Ukraine.

“Investors are happy to invest their money in gold because of the upward surge in the price of the precious metal. It is also predicted that the uptrend will continue in near future. The effect of stock market has also affected the retail gold market,” said market expert Trinath Lenka.

On the other hand retail sellers of gold in the State are worried as the sales of gold ornaments have dipped in the market because of the steep price rise.

(Edited by Suryakant Jena)