Gold gets costlier again, prices jump by Rs 4,000 in a week in Odisha

Rising gold prices and fluctuating silver rates have once again created uncertainty in the Odisha bullion market, leaving buyers concerned about the right time to make purchases. After a brief phase of stability over the past few days, prices of precious metals have resumed an upward and volatile trend.

After a brief period of stability over the past few days, precious metal prices have turned volatile again. Over the last week, gold prices have registered a sharp upward trend, adding to buyers’ worries, especially those planning to make purchases in the near future.

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In just seven days, the price of gold has increased around Rs 4,000. The rate of 22-carat gold, which was earlier around Rs 1,19,000, has now climbed to Rs 1,22,000. This steady rise has heightened uncertainty among customers.

Silver prices, meanwhile, have remained highly unstable. About a week ago, silver was priced at Rs 1,98,000 per kilogram. Since then, rates have surged past the Rs 2,10,000 mark, touching as high as Rs 2,15,000 per kilogram just two days ago, before witnessing further fluctuations.

Overall, the unpredictable movement in gold and silver prices has created uncertainty in the market, leaving customers confused about the right time to make their purchases.

Jewellers say the continuous increase in gold prices has slowed down footfall in markets, as many buyers are adopting a wait-and-watch approach. Market experts attribute the rise in gold rates to global economic uncertainties, fluctuations in international bullion prices, and changes in currency values.