Bhubaneswar, Aug. 20 (UDN): Gold prices witnessed a sharp upswing in Bhubaneswar on Thursday, with rates for both 24-karat and 22-karat gold registering significant gains after recent fluctuations in the local bullion market.
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The price of 24-karat gold climbed to Rs 15,927 per gram, marking a Rs 430 increase from Wednesday’s rate of Rs 15,497 per gram. Meanwhile, 22-karat gold rose by Rs 395 to Rs 14,600 per gram, making jewellery purchases costlier for consumers.
Recent Price Movement
The latest surge comes after a series of fluctuations in gold prices over the past few days.
On August 19, 24-karat gold had fallen to Rs 15,497 per gram, down by Rs 92 from the previous day. Before that, the rate stood at Rs 15,589 per gram on August 18 after a modest increase of Rs 23. On August 17, the price was Rs 15,566 per gram, while it remained unchanged at Rs 15,513 on August 16.
Overall, 24-karat gold has gained Rs 414 per gram since August 16, while 22-karat gold has risen from Rs 14,220 to Rs 14,600 per gram, reflecting a Rs 380 increase during the same period.
Buyers Feel the Impact
The sharp rise is expected to have an immediate impact on jewellery buyers and investors, as higher bullion prices typically translate into increased retail costs. With festive and wedding season demand gradually picking up, consumers may have to pay significantly more for gold purchases if the upward trend continues.
Current Gold Rates in Bhubaneswar (Aug. 20):
24 Karat: Rs 15,927 per gram
22 Karat: Rs 14,600 per gram