From 24 to 18-carat! Odisha’s middleclass feels pinch of rising gold prices

Volatile gold prices in Odisha have left common buyers unsettled these days, with 24-carat gold becoming virtually unaffordable and 22-carat rates touching new highs. As a result, 18-carat gold jewellery is fast emerging as a preferred alternative, offering relief to middle-class families planning weddings or looking for gifts, sources said on Friday.

Also Read: Gold prices to surpass Rs 2 lakh per 10 gram in Odisha? Here's what experts say

Market data from the Capital City shows that while 24-carat gold is priced at around Rs 1.54 lakh per 10 grams, 22-carat gold is selling near Rs 1.41 lakh. In contrast, 18-carat gold is available at approximately Rs 1.15 lakh per 10 grams, translating into a price difference of nearly Rs 26,000 per 10 grams when compared to 22-carat gold.

Despite the lower price, 18-carat gold jewellery closely resembles 22-carat ornaments in appearance and allows for a wide range of designs. This has boosted its popularity among consumers. Jewellers, responding to the trend, have introduced extensive collections in 18, 14, and 9-carat gold, along with one-gram gold-plated jewellery for budget buyers.

Experts note that 18-carat gold contains a blend of pure gold and other metals, making it durable and suitable for daily wear. While global uncertainty continues to keep gold prices unstable, analysts say both 22 and 18-carat gold remain sound options for investment, unlike gold-plated jewellery, which is meant only for use, not investment.

“Sale of 18-carat gold ornaments has increased in the meantime. It is undoubtedly a good alternative. Those with lower income are preferring 1-gram gold jewellery. Some middle-class buyers are even opting for 14 and 9-carat gold,” economic expert Trinath Lenka said.

Reported By: Jyoti Prakash Pati