Silver price gains Rs 500, gold remains steady in Odisha's Twin Cities

The price for 24-carat gold per 10 gram reached Rs 53,800 on Tuesday in twin cities of Bhubaneswar and Cuttack.

For 23-carat, the price of 10 grams of yellow metal is Rs 51,900 while the rate of 22-carat gold reached 50,900. Similarly, the rate of 20, 18 and 14-carat gold remained at Rs 46,000, Rs 41,700 and Rs 33,100, respectively. Pure Ginni (gold coin) is being traded at Rs 41,900.

Meanwhile, gold is being traded at Rs 5,380 per gram (GST 995) and at Rs 5,260 (Cash 995) in Cuttack.

Notably, the price of gold varies for different regions based on certain parameters such as the excise duty, making charges and the state taxes.

On the other hand, 99.50 purity silver is being sold at Rs 58,000 per kg, while the rate of 999.9 purity silver has reached Rs 60,600 per kg on Tuesday.

India's merchandise exports in June rose by 16.78 per cent year-on-year to USD 37.94 billion while the trade deficit ballooned to a record USD 25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data.

In the international market, both gold and silver were trading flat at USD 1,808.45 per ounce and USD 19.83 per ounce, respectively.
The trade deficit stood at USD 9.61 billion in June 2021.

Cumulative exports in April-June 2022-23 rose by about 22.22 per cent to USD 116.77 billion while imports increased 47.31 per cent to USD 187.02 billion during the period, stated the data.