After the reduction in custom duty (import tax) on gold and silver in the budget, gold price has become cheaper by Rs 5,000 and silver by Rs 6,400 in 3 days. The government has reduced the custom duty on gold and silver from 15% to 6% in the budget. This has led to this fall in prices.
Two days after the budget, i.e. today on July 25, gold has fallen by Rs 974 to Rs 68,177. It had fallen by Rs 3,616 on July 23 and Rs 451 on July 24. At the same time, silver has fallen by Rs 3,061 today to Rs 81,801 per kg.
Gold price in 4 metros and Bhopal
Delhi: The price of 10 grams of 22 carat gold is Rs 64,150 and the rate of 10 grams of 24 carat gold is Rs 69,950.
Mumbai: The price of 10 grams of 22 carat gold is Rs 64,000 and the price of 10 grams of 24 carat gold is Rs 69,820.
Kolkata: The price of 10 grams of 22 carat gold is Rs 64,000 and the price of 10 grams of 24 carat gold is Rs 69,820.
Chennai: The price of 10 grams of 22 carat gold is Rs 64,300 and the price of 10 grams of 24 carat gold is Rs 70,150.
Bhopal: The price of 10 grams of 22 carat gold is Rs 64,050 and the rate of 10 grams of 24 carat gold is Rs 69,850.
Gold Price: Demand for gold will increase, prices will not fall much
According to commodity expert Ajay Kedia, this time in the budget, the custom duty on gold and silver has been reduced from 15% to 6%. Due to this, a decline in its price is being seen. But after the reduction of custom duty, the demand for gold will increase rapidly in the coming days.
There may be a decline in gold and silver right now, but it can only be called duty adjustment. Even if gold falls for a few days, it will cover it again. In view of the elections in America and global tensions, the prices of gold and silver will not fall much. This is a good opportunity to buy.
Gold price have increased by more than Rs 4,800 so far this year
The prices of gold have increased by Rs 4,800 per 10 grams so far this year. At the beginning of the year, it was at Rs 63,352. Which is now at Rs 68,177 per 10 grams. On the other hand, silver was at Rs 73,395 per kg at the beginning of the year. Which has now reached Rs 81,801 per kg. That is, silver has increased by Rs 8,400 this year.
Keep these 3 things in mind while buying gold
1. Buy only certified gold
Always buy certified gold with the hallmark of Bureau of Indian Standards (BIS). There is a 6-digit hallmark code on gold. It is called Hallmark Unique Identification Number i.e. HUID. This number is alphanumeric i.e. something like this – AZ4524. Through hallmarking, it is possible to find out how many carats a gold is.
2. Cross check the price
Cross check the correct weight of gold and its price on the day of purchase from many sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered to be the purest gold, but jewelry is not made from it because it is very soft.
3. Don’t pay in cash, take the bill
While buying gold, it is better to pay through UPI (like Bhima App) and digital banking instead of cash payment. If you want, you can also pay through debit or credit card. After this, do not forget to take the bill. If you have ordered online, then definitely check the packaging.
