Gold price in Odisha has touched an all-time high due to the escalating tensions between Iran and Israel. On Wednesday, the gold price crossed Rs 74,000 per 10 grams for 24 Carat for the first time in the State Capital.
The exact price per 10 grams for 24 Carat gold has increased by Rs 980 per gram and reached Rs 74,130 per 10 grams for 24 Carat.
Similarly, the price of 22 Carat gold per 10 grams has reached around Rs 68,000. Now it costs Rs 67, 950 per 10 grams with an increase of Rs 900.
Meanwhile, the price of silver per kilogram has reached Rs 90,500 with an increase of Rs 1,000.
As per experts, the price trend of the yellow metal breaching new highs is primarily on the backdrop of the recent Iran-Israel conflict that has led to investors withdrawing from riskier avenues and reinvesting in gold. It’s due to the scenario of looming escalations between the countries in conflict and the response by G7.
On the trade front, jewellery exports from India will get further sluggish owing to higher crude prices and tension, leading to a poor sentiment in the end-user class in international markets.