Gold Price Jumps to Cross Rs 74,000 per 10g in Bhubaneswar

Bhubaneswar: The escalated geopolitical tension because of the faceoff between Iran and Israel has led to an increase in gold price throughout India. While in Kolkata 10g of 24k gold was Rs 75,580, in Bhubaneswar it crossed Rs 74,000 mark for the first time to hover at Rs 74,130.

The price of 22 Carat gold per 10 grams in Bhubaneswar also reached Rs 67, 950 per 10 grams with an increase of Rs 900.

Meanwhile, the price of silver per kilogram has reached Rs 90,500 with an increase of Rs 1,000.

As per experts, Expectations of low interest rates make financial instruments less attractive for investors compared to gold leading to increased purchases of the yellow and the rise in prices.

Rising geopolitical risks and buying by central banks, led by China have also fuelled gold prices.

With global uncertainties like the continuation of the Russia-Ukraine war, the Israel-Hamas conflict, and tension in the Red Sea region, gold is seen as an attractive asset by investors.

As it is the marriage season, the demand for gold is high in India.