Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 52,100 on Tuesday in twin cities of Bhubaneswar and Cuttack with a decrease of Rs 50 from Monday’s price.
For 23-carat, the price of 10 grams of yellow metal reached Rs 48,800 while the rate of 22-carat gold reached Rs 46,770.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 42500, Rs 38200 and Rs 29800, respectively. Pure Ginni (gold coin) is being traded at Rs 38,600on Tuesday.
On the other hand, one kilogram of silver is being sold at Rs 58,900 (with GST) in Bhubaneswar on Tuesday with an increase of Rs 1,700 from yesterday's price of Rs 57,200.
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.