Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 52,300 on Saturday in twin cities of Bhubaneswar and Cuttack with an increase of Rs 50 as against Friday’s price.
For 23-carat, the price of 10 grams of the yellow metal jumped to Rs 50,400 while the rate of 22-carat gold reached 49,400. Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 44,600, Rs 40,400 and Rs 32,000, respectively. Pure Ginni (gold coin) was being traded at Rs 40,700 on Saturday.
Meanwhile, gold is being traded at Rs 5,225 per gram (GST 995) and at Rs 5,200 (Cash 995) in Cuttack. Notably, the price of gold varies for different regions based on certain parameters such as the excise duty, making charges and the state taxes.
On the other hand, one kilogram of silver is being sold at Rs 62,300 (with GST) in Bhubaneswar. In the international market, gold was trading higher at USD 1,828 per ounce and silver was flat at USD 20.97 per ounce. Spot gold prices were up 0.33 per cent at COMEX.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves fell by USD 258 million to USD 40.584 billion.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) dropped by USD 233 million to USD 18.155 billion in the week ended June 17. The country's reserve position with the IMF also dipped by USD 17 million to USD 4.968 billion in the reporting week.