Gold Prices, Election Results In Andhra, Odisha: 24K/100 Grams Up Rs 5,700-7,600 In Vijayawada, Bhubaneswar

Gold prices in top cities of big states of assembly constituencies like Andhra Pradesh and Odisha as the verdict of Election Polls nears. As per the latest update by the Election Commission of India, Andhra Pradesh's regional party TDP is leading with 117 seats, with BJP at 6 seats.

Meanwhile, in Odisha, the BJP takes a clear lead with 58 seats, followed by its opposition INC with 10 seats. The cities in gold prices have surged are Vijayawada and Bhubaneswar. Election results are the key focus for gold and silver prices on June 4, 2024.

Gold Prices Vijayawada:

Vijayawada is among the top cities in Andhra Pradesh and is an important destination to buy and sell gold in the state. Jewellers in the city offer some of the best patterns and designs across India.

In 22K, 10 grams of the gold price is at Rs 66,800 in Vijayawada, up by Rs 700 on June 4 compared to the previous day. While 100 grams price surged by Rs 7,000 to Rs 6,68,000. 1-gram is up by Rs 70 and 8-gram is up by Rs 560.

Further, in 24K, gold is up by Rs 760 in 10 grams to Rs 72,870, while 100 grams is available at Rs 7,600 to Rs 7,28,700. 1-gram and 8-grams of gold here is up by Rs 76 and Rs 608 respectively from the previous day.

18K prices surged by Rs 57 to Rs 5,700 in gold. 10 grams is at Rs 54,650, and 100 grams is at Rs 5,46,500 on June 4.

Gold Prices Bhubaneswar:

In Odisha, most of the people are fond of buying gold. People from all classes in Odisha are so active in buying gold and they used to wear and gift in numerous festivals, family functions & marriages. You need to always check gold rates in Bhubaneswar the capital city of Odisha, which has the best gold prices you would get in any city.

Just like Vijayawada, gold prices surged by Rs 70 to Rs 7,000 in 22k, by Rs 76 to Rs 7,600 in 24k, and by Rs 57 to Rs 5,700 in 18K across grams in a single day.

24K of 10 grams is at Rs 72,870, while the same gram is at Rs 66,800 in 22K and Rs 54,650 in 18K. The lowest price of gold in Bhubaneswar today is ₹ 6,680 per gram for 22-karat gold and ₹ 7,287 per gram for 24-karat gold (also called 999 gold).

Kaynat Chainwala - Senior Manager, Commodities Research - Kotak Securities said, "The Fed is expected to wait for more evidence of cooling inflation before pivoting. Markets await the US labour report, as PCE figures didn't significantly alter rate cut guidance, with swaps markets still pricing just one rate cut by year-end. Unexpected job market heating could delay rate hikes, while moderation may prompt the Fed to cut rates sooner, supporting gold prices ahead of the June 12 FOMC statement."

Apart from the Parliament constituencies poll results of 543 seats, the outcomes of assembly constituencies of Andhra Pradesh and Odisha will be announced on June 4. The parties are competing for 175 seats in Andhra Pradesh, and 147 seats in Odisha in total.