Gold Prices Ease Ahead of Dussehra; Buyers Get Relief as Rates Dip Slightly
Bhubaneswar: Gold prices witnessed a slight decline on Monday, offering some relief to consumers planning jewellery purchases ahead of the Dussehra festival.
Despite the daily drop, precious metal prices continue to remain higher than the levels recorded at the beginning of October.
According to the latest market rates, 24-carat gold in Bhubaneswar was priced at approximately ₹1,51,410 per 10 grams, down by ₹440 compared to the previous day. Similarly, 22-carat gold fell by ₹400 to ₹1,38,790 per 10 grams.
The quoted prices do not include GST and making charges.
The decline comes at a time when festive demand is expected to increase, with many families traditionally purchasing gold jewellery during the Dussehra and upcoming festive season.
However, a broader look at the monthly trend shows that gold remains costlier than it was at the start of October.
The price of 24-carat gold has increased by ₹1,830 per 10 grams between October 1 and October 12, rising from ₹1,49,580 to ₹1,51,410.
Market data also indicates significant fluctuations over recent months.
At the end of June, gold prices had fallen sharply, with 24-carat gold declining by ₹15,110 per 10 grams during that month.
Among major Indian cities, Hyderabad, Mumbai and Kolkata reported 24-carat gold prices at ₹1,51,410 per 10 grams, while Delhi and Chennai recorded slightly higher rates of ₹1,51,560 per 10 grams.
Industry observers say festive demand, global economic developments and currency movements will continue to influence gold prices in the coming weeks as consumers prepare for peak-season purchases.
