Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 53,450 on Wednesday in twin cities of Bhubaneswar and Cuttack with a decrease of Rs 150 from Tuesday’s price.
For 23-carat, the price of 10 grams of yellow metal reached Rs 51,500 while the rate of 22-carat gold reached 50,500.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 45,600, Rs 41,300 and Rs 32,600, respectively. Pure Ginni (gold coin) is being traded at Rs 41, 500 on Wednesday.
Meanwhile, gold is being traded at Rs 5,350 per gram (GST 995) and at Rs 5,190 (Cash 995) in Cuttack.
On the other hand, one kilogram of silver is being sold at Rs 59,700 in Bhubaneswar, following a decrease of Rs 200 from Tuesday’s price of Rs 59,900.
Notably, factors such as state taxes, excise duty, and making charges lead to changes in the price of gold in India.
Meanwhile, gold prices inched lower on Wednesday after falling more than one per cent in the previous session, weighed down by an uptick in the U.S. dollar and worries over further US interest rate hikes. Spot gold was down 0.1 per cent at $1,777.46 per ounce, as of 0054 GMT, after hitting its lowest since Aug. 8 at $1,772.30 on Monday. US gold futures GCv1 eased 0.2% to $1,793.90 per ounce.