Gold-Silver Price Today: Impact of GST Council's decision, gold became this much cheaper
Gold-Silver Price Today: There is big relief news for gold buyers across the country. Big decisions were taken in the 56th meeting of the GST Council, the effect of which is directly visible on the market. After this meeting, gold prices have also declined across the country. At the same time, the price of silver has also come down on MCX
Let us tell you that the prices of gold and silver keep changing continuously. Meanwhile, the GST Council meeting has also affected the prices of gold.
Impact of GST Council's decision
In this meeting chaired by Finance Minister Nirmala Sitharaman, it has been decided to divide the GST slab into two parts. Now there will not be four tax slabs (5%, 12%, 18%, 28%) like before. While from now onwards there will be only two slabs 5% and 18%. However, the old rates will remain applicable on gold and silver, that is, 3% GST will be charged on gold and 5% GST on making charge.
Silver prices
Silver prices have also seen a decline of more than 1% compared to gold. Silver is trading at Rs 124080 per kg on MCX today.
What is special for investors?
Experts believe that these reforms of the GST Council will increase consumption in the country and this will also benefit the demand for gold and silver. Gold has reached a record high a few days ago and the biggest reason for this is the expectation of reduction in interest rates in America. When there is a possibility of reduction in interest rates, people choose safe options like gold. Gold has always been considered the most reliable investment in difficult and uncertain times.
Also Read: GST 2.0... Zero, 5, 18 and 40%, thing of your use has come in which slab, see the list here
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