Gold Price Drops By Over Rs 3000 In Bhubaneswar, Lowest In Last 10 Days

Good news for buyers as the price of 24 carat gold has dropped significantly across the country including Bhubaneswar in the last 10 days. This is a treat as the wedding season has begun in India. According to Good Returns, the price of 24 carat gold has dropped by Rs 3050 per 10 gram in the capital city. The 24 carat gold, which used to cost Rs 79360 per 10 grams on November 9, is now being sold at Rs 76310 in the state capital.       
Meanwhile, the decline in the gold price has come as a respite for the buyers amid the ongoing wedding season in the state. It is worthwhile to mention here that the geopolitical situation in the Middle East has further bolstered safe-haven demand for gold, adding to its upward momentum. 
Earlier in October, the share of gold in the country's forex also surged more than 209 per cent since 2018 as India’s foreign exchange reserves surpassed $700 billion. India’s gold reserves stands at $65.76 billion as on October 4, 2024, compared to $21.15 billion as on December of 2018.