Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 51,900 on Monday in twin cities of Bhubaneswar and Cuttack.
For 23-carat, the price of 10 grams of yellow metal reached Rs 48,600 while the rate of 22-carat gold reached Rs 46,590.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 42,300, Rs 38,300 and Rs 29,900, respectively. Pure Ginni (gold coin) is being traded at Rs 40,000 on Saturday.
On the other hand, one kilogram of silver is being sold at Rs 59,100 (with GST) in Bhubaneswar on Saturday.
Notably, factors such as state taxes, excise duty, and making charges lead to changes in the price of gold in India.
Meanwhile, in the domestic market, MCX gold price continues to be in a consolidation. The short-term outlook is positive and MCX gold could rise to the immediate target of ₹51,500-52,000. Above ₹52,000, the price could head to ₹52,800-53,500 range. This view would be invalidated if the price falls below ₹49,000.