Amid fluctuation in gold and silver rates across the country, the price of 24-carat gold per 10 gram reached Rs 50,700 on Thursday in Bhubaneswar, registering a decrease of Rs 1,500 from Tuesday’s price. Yesterday, it was Rs 52,200.
For 23-carat, the price of 10 gram of 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 corresponding mild decline in comparison to Tuesday's prices, and priced at Rs 43,800, Rs 39,700 and Rs 31,100 respectively.
Meanwhile, the Pure Ginni (gold coin) is being traded at Rs 40,100 on Thursday.
On the other hand, one kilogram of silver is being sold at Rs 60,000 (with GST) in Bhubaneswar.
Meanwhile, gold is being traded at Rs 5,220 per gram (GST 995) and at Rs 5,175 (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.