Gold rate surges, silver drops: Check new prices of precious metals in Cuttack and Bhubaneswar

Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 53,350 on Friday in twin cities of Bhubaneswar and Cuttack with a surge of Rs 1,000 from Thursday’s price.

For 23-carat, the price of 10 grams of yellow metal is Rs 51,500 while the rate of 22-carat gold reached 50,400. Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 45,600, Rs 41,300 and Rs 32,700, respectively. Pure Ginni (gold coin) is being traded at Rs 41,500.

Meanwhile, gold is being traded at Rs 5,240 per gram (GST 995) and at Rs 5,200 (Cash 995) in Cuttack.

Notably, the price of gold varies for different regions based on certain parameters such as the excise duty, making charges and the state taxes. 

The revised Multi Commodity Exchange (MCX) data indicates that gold futures, which are set to mature on 5th August this year, declined by 0.25 per cent to Rs 50,900.00.

On the other hand, one kilogram of silver is being sold at Rs 60,100 (with GST) in Bhubaneswar. Silver futures, which are set to mature on 5th July 2022, witnessed a downfall of Rs 535 or 0.88 per cent and were retailing at Rs 61,147 per kg on the MCX against the previous close of Rs 61,411.