Gold crosses Rs 1.41L, silver touches Rs 3.40L in Odisha

Prices of precious metals have surged sharply, sending shockwaves through the bullion market and leaving buyers deeply concerned. Gold prices are rising at an alarming rate, with silver rates showing no signs of slowing down. Market sources indicate that prices are increasing almost every day, with frequent revisions leaving consumers stunned by the rapid escalation.

Rs 10,000 Hike In One Week

Within just one week, gold prices have jumped by nearly Rs 10,000, marking one of the steepest short-term rises witnessed in recent times. In the Bhubaneswar bullion market on Wednesday, the price of 22-carat gold crossed Rs 1.41 lakh per 10 grams. This is a significant increase from Rs 1.31 lakh recorded barely a week ago. 

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Similarly, 24-carat gold prices have also witnessed a sharp spike, climbing beyond Rs 1.54 lakh per 10 grams.

Silver Touches Rs 3.40L

Silver, meanwhile, appears to be on an unstoppable upward trajectory. The white metal is currently being sold at Rs 3.40 lakh per kilogram in the local market. Traders revealed that silver prices have risen by more than Rs 1 lakh within a span of just one month, creating additional pressure on buyers and small traders alike.

The steep increase has dampened consumer sentiment, especially as the wedding and festive season approaches. Many buyers are either postponing purchases or opting for lighter jewellery amid fears that prices may rise further in the coming days.