Bhubaneswar, Aug 7: Those planning to purchase gold or silver may have to pay significantly more, as prices of both precious metals witnessed a sharp surge in Bhubaneswar on Thursday. The 24-carat and 22-carat gold price, as well as silver, have climbed to record levels following a steep increase in the global bullion market.

According to the latest market rates, the price of 24-carat gold has jumped by ₹2,890 per 10 grams, taking it to ₹1,49,730. Similarly, 22-carat gold has risen by ₹2,650 per 10 grams, with the new price reaching ₹1,37,250.

Silver prices also registered a substantial increase. The price of silver rose by ₹10,000 per kilogram, pushing it to ₹2.50 lakh per kg in the city.

Market experts attribute the sharp rise in bullion prices primarily to the weakening of the US dollar. A softer dollar makes gold and silver more affordable for overseas buyers, leading to higher global demand and driving prices upward.

Analysts say the increased international demand has had a direct impact on the Indian bullion market, resulting in a significant rise in gold and silver prices across the country, including Bhubaneswar.

With prices remaining volatile, experts have advised consumers planning to purchase gold or silver to closely monitor market trends before making any investment or buying decision.