Gold Price Today: Finance Minister Nirmala Sitharaman has given great news to gold investors through the budget. Due to this decision of the government, the price of gold may come down below Rs 70,000 per 10 grams. Long term capital gain tax rates have also been reduced.
Gold Price Today: The budget has given a big relief to the people buying gold. Union Finance Minister Nirmala Sitharaman has reduced the basic customs duty from 10 percent to 5 percent. At the same time, the agri cess has been reduced from 5 percent to 1 percent. The effect of this decision of the government can be seen on the upcoming gold prices. Let us tell you, the government has reduced the long term capital gain tax on gold to 12.5 percent.
The government has made another change. Earlier the long term time limit for gold investors was 36 months. But now it has been reduced to 24 months. The good thing is that the long term capital gain tax will now be 12.5 percent instead of 20 percent.
The price may come below Rs 70,000
According to the report of Zee Business, IBJA Secretary Surendra Mehta has said that the reduction in basic duty and agri cess will affect the common man in the coming time. He told that due to this decision of the government, the price of gold can come down to Rs 70,000 per 10 grams. Surendra Mehta says that there is now a fear in the bullion market that GST may be increased again from 3 percent to 12 percent.
How much will gold become cheaper?
Surendra Mehta has told that after this announcement, gold will become cheaper by Rs 5.90 lakh per kg. At the same time, silver will become cheaper by Rs 7,600 per kg. Platinum has become cheaper from Rs 1900 to Rs 2000.
Benefit to the government
The government will also get the benefit of this decision. The government will now save Rs 9000 crore on Sovereign Gold Bond (SGB). In recent times, people’s attraction towards Sovereign Gold Bond has increased. The effect of this decision can be seen in the sale of sovereign gold.
What is the price of gold today? (Gold Price Today)
According to the information available on the website of ibjarates, the price of 10 grams of 24 carat has come down to Rs 72,609. Yesterday evening its price was Rs 73,218 per 10 grams. The price of silver today is Rs 87576 per kg. Yesterday its rate was Rs 88,196 per kg. Let us tell you, the price of 22 carat today is Rs 72,318. Yesterday it was Rs 72,925.
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