Gold prices fell for a sixth straight session on Monday to hit their lowest in more than three weeks.
Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 53,100 on Monday in twin cities of Bhubaneswar and Cuttack.
For 23-carat, the price of 10 grams of yellow metal reached Rs 51,100 while the rate of 22-carat gold reached 50,100.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 45200, Rs 40900 and Rs 32200, respectively. Pure Ginni (gold coin) is being traded at Rs 41,100 on Monday.
Meanwhile, gold is being traded at Rs 5,310 per gram (GST 995) and at Rs 5,180 (Cash 995) in Cuttack.
On the other hand, one kilogram of silver is being sold at Rs 57,500 in Bhubaneswar, following a decrease of Rs 400 from Saturday’s price of Rs 57,900.
Notably, factors such as state taxes, excise duty, and making charges lead to changes in the price of gold in India.
Gold prices fell for a sixth straight session on Monday to hit their lowest in more than three weeks, weighed down by a robust dollar and expectations of further interest rate hikes from the US Federal Reserve to tame surging inflation.
Spot gold was down 0.1 per cent at $1,746.06 per ounce, as of 0131 GMT, after hitting its lowest since July 28 at $1,743.83 in early Asian trading. The metal lost nearly 3 per ent last week. The US gold futures eased 0.2 per cent to $1,758.80.