India transformed in last 10 years; different from 2013: Here's 10 big changes as per Morgan Stanley report
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 Bhubaneswar with a rise of Rs 1350 from Tuesday’s price.
For 23-carat, the price of 10 grams of yellow metal reached Rs 47,500 while the rate of 22-carat gold reached Rs 45,590.
Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 41,400, Rs 37,500 and Rs 29,300, respectively. Pure Ginni (gold coin) is being traded at Rs 37,700 on Wednesday.
Meanwhile, gold is being traded at Rs 5,070 per gram (GST 995) and at Rs 5,085 (Cash 995) in Cuttack.
On the other hand, one kilogram of silver is being sold at Rs 58,400 (with GST) in Bhubaneswar on Tuesday.
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.