Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 51,300 on Tuesday in twin cities of Bhubaneswar and Cuttack.
For 23-carat, the price of 10 grams of yellow metal reached Rs 49,300 while the rate of 22-carat gold reached Rs 47,390 respectively.
Similarly, the rate of 20, 18 and 14-carat gold witnessed mild growth in comparison to Monday prices, and climbed to Rs 43,000, Rs 38,900 and Rs 30,400, respectively. Meanwhile, the Pure Ginni (gold coin) is being traded at Rs 40,500 on Tuesday.
On the other hand, one kilogram of silver is being sold at Rs 62,700 (with GST) in Bhubaneswar on Tuesday.
Meanwhile, gold is being traded at Rs 5,260 per gram (GST 995) and at Rs 5,220 (Cash 995) in Cuttack.
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 Rs 51,500 - 52,000. Above Rs 52,000, the price could head to Rs 52,800 - 53,500 range. This view would be invalidated if the price falls below Rs 49,000.