New Delhi:
Gold is good news for buyers. People have a great chance to buy gold and silver. At the same time, there is a relief news for people who are planning to buy gold and silver in this marriage season.Gold has become much cheaper than its all-time high price. In August last year, gold reached the record level of Rs 56200 per 10 grams, but since then it has fallen by more than Rs 11,000.
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On the other hand, if we talk about this year, gold has become cheaper by more than Rs 5000. Gold was at Rs 50202 / 10g on 31 December and silver was at Rs 67383 / kg. But compared to last Friday, gold has been at Rs 44937/10 gram and silver at Rs 66815 / kg. In this case, gold fell by Rs 5265 and silver fell by Rs 568 this year.
Talking about this business week, there is a slight change in the price of gold and silver. The spot price of gold has increased by Rs 109.While silver declined by Rs 150. At the same time, gold has become cheaper by Rs 11189 while talking to the all-time high, while silver has also declined drastically by Rs 8198.
According to experts, the concerns of corona infection are now going away from the minds of the people. Hence, people are no longer buying gold as a safe investment. Investors have turned to the stock market. Hence, prices may fall further in the coming days. In the domestic bullion market, the price of gold can fall to 40 thousand rupees per ten grams. As well as these people say That the trend of gold prices may continue for the next 15 days. But, it is expected to reach Rs 50 thousand per ten grams again by Diwali.
Actually, Finance Minister Nirmala Sitharaman has announced a 5 percent reduction in import duty on gold and silver in the budget proposal.Currently, 12.5 percent import duty has to be paid on gold and silver. But now from October 1, only 7.5% import duty will be paid on gold and silver. This will also reduce the prices of gold and silver.
Posted by Technical Mechzone
Technical mechzone 