Amid the fluctuation in gold and silver rates across the country, the price for 24-carat gold per 10 gram reached Rs 50,000 on Friday in the twin cities of Bhubaneswar and Cuttack.
For 23-carat, the price of 10 grams of yellow metal reached Rs 49,600 while the rate of 22-carat gold reached Rs 47,500.
Similarly, the rate of 20, 18, and 14-carat gold witnessed a mild decline in comparison to Thursday prices, and dropped to Rs 43,200, Rs 39,000 and Rs 30,600, respectively.
Meanwhile, the Pure Ginni (gold coin) is being traded at Rs 39,500 on Friday.
On the other hand, one kilogram of silver is being sold at Rs 56,300 (with GST) in Bhubaneswar and 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.