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

Gold and silver prices continue to rise sharply ahead of the upcoming wedding and festive season, with analysts predicting further escalation in the coming days. The price of 22-carat gold has already surpassed Rs 1,20,000 per 10 gram, showing no signs of stabilisation as market demand remains strong.

Market expert from Odisha, Trinath Lenka said, “Gold prices show no signs of coming down. Demand remains high, and investors continue to invest. This trend is likely to persist.” 

Other analysts also forecast that, given the current momentum, the price of gold could soon touch Rs 2 lakh per 10 gram.

Regional Market Trends

As reported on October 9, gold prices increased almost daily by Rs 100 to Rs 200. In Bhubaneswar, 22-carat gold crossed Rs 1.13 lakh per 10 gram while 24-carat gold is traded close to Rs 1.40 lakh. 

In comparison, the price of silver, which stood at around Rs 40,500 per kilogram in 2020, now exceeded Rs 1.60 lakh. 

Global Factors Influence Prices

Experts attribute this sustained rise to global economic uncertainty, including tariffs introduced by former US President Donald Trump, the ongoing US government shutdown, higher ETF inflows, a weaker dollar, and expectations of further rate cuts.

Silver Gains Momentum

With gold prices soaring daily, investors are increasingly shifting towards silver. Over the past nine months, silver prices have doubled, rising nearly twice as fast as gold. Between October 7 and 13, silver gained Rs 28,000 per kilogram to reach Rs 1,95,000. 

On October 5, it was priced at Rs 1,65,000 per kilogram. Analysts indicate that with daily gains of Rs 4,000 to Rs 5,000, silver could cross Rs 2 lakh per kilogram within the next two days.