Gold / Silver Rate Today: On Tuesday Multi Commodity Exchange (MCX), the gold price of February futures (Gold Price Today) has lost 0.6 percent. At the same time, the silver futures prices of March (Silve Price Today) have fallen by 2.32 percent.
Gold / Silver Rate Today:
There is a good chance to buy Cheap Gold (Gold Price). Gold and silver prices have fallen for the second consecutive day. On Tuesday, Multi Commodity Exchange (MCX), the gold price of February futures (Gold Price Today) fell 0.6 percent. At the same time, the silver futures prices of March (Silve Price Today) have fallen by 2.32 percent. Explain that in the budget (Budget 2021), Finance Minister Nirmala Sitharaman announced a huge cut in import duty on gold and silver, due to which pressure has been created in gold and silver.
Gold and silver prices –
On Tuesday, the price of gold futures on Multi Commodity Exchange (MCX) fell by 0.60 per cent to Rs 48,438 per 10 grams. While the price of silver was reduced by Rs 1,831 to Rs 71,835 per kg. In the previous session, gold prices had fallen by Rs 627, or 1.2 percent per 10 grams. However, the price of silver was increased by 6 percent i.e. Rs 4238 per kg.
Price in bullion market
On Monday, gold prices fell by Rs 1324 in Delhi Bullion Market. Now the price of ten grams has gone up to Rs 47520 per ten grams. On Friday, it had closed at the level of Rs 48,844 per ten grams. In contrast, a huge surge in the price of silver was seen. Today, silver became costlier by Rs 3461 in Delhi and its price reached Rs 72,470 per kg. Its price on Friday was 69,009 rupees per ten grams.
Gold cheaper than import duty cut
As of July 2019, the import duty on gold was 10 percent, which was increased to 12.5 percent. The price of gold and silver rose sharply during the Corona period. In August 2020, gold had reached the level of Rs 56000 per ten grams and silver 78,000 per kg. In such a situation, to control the price, the government has decided to cut import duty by 5 percent. Navneet Damani, Vice President, Motilal Oswal Financial Services, said that due to the price rise, there has been a big jump in smuggling for some time, after which the government has taken this decision.
