Gold prices in India continue their upward trajectory, reaching new record highs today. In Bhubaneswar, the price of 22-carat gold has crossed the Rs 90,000 mark per 10 grams for the first time, trading at Rs 90,150 — a steep rise of Rs 700 from the previous day.
Meanwhile, 24-carat pure gold has also witnessed a surge, touching Rs 98,350 per 10 grams.
Silver Rate Also High
This surge in gold prices has been mirrored by a similar rise in silver. The price of silver per kilogram has increased by Rs 1,000, bringing it close to Rs 1,11,000 per kg — another historic high in the bullion market.
Experts attribute this consistent rise in precious metal prices to multiple global and domestic factors. International tensions, fluctuating stock markets, high inflation concerns, and a weakening rupee have driven investors toward safer investment options like gold and silver.
With the wedding season approaching and demand peaking, prices are expected to remain volatile and possibly rise further.
In Bhubaneswar’s local market, the breakdown of current gold prices is as follows:
22-Carat Gold: Rs 90,150 per 10 grams
24-Carat Gold: Rs 98,350 per 10 grams
Silver: Rs 1,11,000 per kilogram
Just a few days ago, the price of 22-carat gold was around Rs 89,200, while 24-carat gold was trading at Rs 97,310. The jump of Rs 1,050 and Rs 1,140 respectively in such a short span has taken many by surprise and sparked concerns among customers, particularly those planning weddings or major purchases.
Jewellers in the city have reported a slowdown in walk-in customers due to the skyrocketing prices, although investment-driven purchases have remained steady.
“People are still buying, but they are cautious. Many are waiting to see if prices stabilize,” said a local jewellery shop owner in Bhubaneswar’s Unit-1 market.
Financial advisors, meanwhile, suggest that those looking to invest in gold should consider gold bonds or digital gold options to avoid premiums and making charges associated with physical purchases. With no immediate signs of global economic easing, the upward trend in gold and silver prices is likely to continue, setting new benchmarks in the days to come.