Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 50,850 on Tuesday in the twin cities of Bhubaneswar and Cuttack.
For 23-carat, the price of 10 grams of yellow metal reached Rs 50,400 while the rate of 22-carat gold reached Rs 48,300 respectively.
Similarly, the rate of 20, 18, and 14-carat gold witnessed a reasonable decline in comparison to last week’s prices, and was recorded being traded at Rs 43,900, Rs 39,700 and Rs 31,200, respectively.
Meanwhile, the Pure Ginni (gold coin) is being traded at Rs 40,100 on Tuesday.
On the other hand, one kilogram of silver is being sold at Rs 60,100 (with GST) in Bhubaneswar on Tuesday.
Meanwhile, gold is being traded at Rs 5,330 per gram (GST 995) and at Rs 5,250 (Cash 995) in Cuttack.
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.