Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 50,800 on Wednesday in the twin cities of Bhubaneswar and Cuttack.
For 23-carat, the price of 10 gram of the yellow metal reached Rs 50,300 while the rate of 22-carat gold reached Rs 48,200.
Similarly, the rate of 20, 18, and 14-carat gold witnessed a mild decline in comparison to yesterday's prices, as they traded at Rs 43,800, Rs 39,600 and Rs 31,100, respectively.
The Pure Ginni (gold coin) was traded at Rs 40,000 on Wednesday.
On the other hand, one kilogram of silver was sold at Rs 59,100 (with GST) in Bhubaneswar today.
In Cuttack, gold was traded at Rs 5,210 per gram (GST 995) and at Rs 5,140 (Cash 995).
Notably, factors such as state taxes, excise duty, and making charges lead to changes in the price of gold in India.
The price of silver in India is determined by changes in prices internationally. It also depends on the movement of the rupee against the dollar.
If the rupee falls against its international counterpart and the prices remain consistent internationally, silver ends up becoming dearer.