Bhubaneswar: Ahead of the festive season, the prices of gold have witnessed a sharp drop in the last few days.
As per sources, the prices of the yellow metal have declined by around Rs 2,000 within a month. The gold rate in Bhubaneswar was Rs 55,000 per 10 grams for the 22-carat in September. Now the price has come down to Rs 53,000 with a decline of around Rs 1100 in the first five days of October.
Also, the price of silver has dropped to Rs 7000 per kg.
The surge in the US dollar rates has put pressure on the precious metal, the experts said.
A further drop in the price of gold by another 5 to 10 per cent may happen. It is said to be the perfect time for investors to invest in gold, a better bet in the long run.
Keeping the festive and marriage season in mind, the sellers are offering huge discounts on making charges, leading the consumers to a win-win situation.
