Gold prices surge to all-time record high in Odisha market

Gold prices across Odisha have hit unprecedented heights, with rates soaring beyond Rs 96,000 threshold for 10 grams.

In the Bhubaneswar market, the price of 24-carat gold has surged by Rs 990, reaching an all-time peak of Rs 96,170 per 10 grams. 

Meanwhile, 22-carat gold, extensively used in jewellery crafting, witnessed an increase of Rs 950, now priced at Rs 88,150 per 10 grams.

Market Trends

in the last couple of days, the gold market experienced a decline of Rs 500 per 10 grams. However, industry experts suggest that the current upswing indicates that prices may soon breach the Rs 1 lakh milestone.

Expert Insights

Analysts attribute this spike in gold prices to international market trends and fluctuations in currency exchange rates. As gold remains a traditional investment choice among Indian households, the soaring rates have significant implications for consumers.

Cultural Influence

Gold holds a special place in Indian culture, symbolising wealth, prosperity, and tradition. Its importance in festivals and family occasions such as weddings continues to drive its demand, notwithstanding the price hikes.

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"The gold price has been declining for the last couple of days. However, the price of the yellow metal has witnessed a surge again. It has witnessed a 2.2 per cent increase in the international market today. A spike in gold prices is occurring due to international market trends and fluctuations in currency exchange rates," said economic expert Trinath Lenka.