Gold Rate: Gold became cheaper... Rate of 10 grams of 24 carat gold reached here in 7days
Gold Rate: There has been a big decline in the prices of gold in the last one week. Though the price of gold jewelry across the country keeps changing due to excise duty, state taxes and making charges.
A big fluctuation in the prices of gold (Gold Rates) this year. On the one hand, after the government's announcement of cutting the customs duty on gold in the first general budget (Union Budget 2024) the gold price suddenly started falling rapidly and reached around Rs 67,000 per 10 grams, then a few days after the decline, the price of the yellow metal started increasing in the month of August, due to which gold reached an all-time high.
However, if we talk about the last one week, then gold has become cheaper only during this period. Gold rate fell so much in a week.
Decline in the prices of gold in the last one week
If we look at the change in gold prices on MCX in a week, then on November 4, the gold rate with expiry on December 5 was Rs 78,422 per. According to this, the price of gold has fallen by Rs 1130 per 10 grams during this one week.
In the meanwhile, a decline in the price of gold has been seen in the domestic market as well. According to the website of Indian Bullion Jewelers Association (IBJA), on November 4, the price of fine gold (999) was Rs 78,518 per 10 grams, but on November 8, its price came down to Rs 77,380 per 10 grams.
Quality Price (according by IBJA)
24 carat Rs 77,380/10 grams
22 carat Rs 75,520/10 grams
20 carat Rs 68,870/10 grams
18 carat Rs 62,680/10 grams
It is worth noting that this price of gold in the domestic market is without 3% GST and making charge. Making charges are different and due to this, changes are seen in the price of gold in all the cities of the country.
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Prices fell after the Budget
While there a sudden drop in the price of gold after Finance Minister Nirmala Sitharaman presented the Modi 3.0 budget. So let us tell you that many changes were announced in the budget and one of these was related to Gold-Silver. Actually, the government reduced the custom duty on gold from 15 percent to 6 percent and its effect was seen in the form of a drop of about Rs 4000 in the price of gold on the day of the budget itself and this decline continued for many days.
Check the purity of gold
Let us tell you that the price of gold jewelry across the country keeps changing due to excise duty, state taxes and making charges. Hallmark is written on jewelry according to carat.
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