Gold and silver rates today fell sharply in Indian markets tracking weak global cues. The price for 23-carat gold per 10 gram with GST reached Rs 52,500 in Bhubaneswar on Wednesday with a fall of Rs 200 from yesterday’s price.
For 23-carat, the price of 10 grams of yellow metal is Rs 50,600 while the rate of 22-carat gold has reached Rs 49,600.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 44800, Rs 40600 and Rs 32100 respectively. Pure Ginni (gold coin) is being traded at Rs 40,800.
Meanwhile, gold is trading at Rs 5,240 per gram (GST 995) and Rs 5,215 (Cash 995) in Cuttack.
On the other hand, one kilogram of silver is being sold at Rs 63,400 (With GST) in Bhubaneswar , following a decrease of Rs 1000 from Thursday’s price of Rs 64,400 .
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 5 August this year, declined by 0.25 percent to Rs 50,900.00. Silver futures, which are set to mature on 5 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.