Gold prices fall, silver declines, know why it happened and see new price

new Delhi. Gold prices today (Gold Price Today) in Indian markets were recorded. On Tuesday, February 2, 2021, the price of gold declined by Rs 480 per 10 grams in Delhi. On the other hand, there has been a tremendous decrease in silver price today. Today, silver fell more than Rs 3 thousand per kg. During the last trading session, gold had closed at Rs 48,182 per 10 grams in Delhi Bullion Market. At the same time, silver had closed at Rs 73,219 per kg. Today, the price of gold and silver declined in international markets.

New Gold Prices (Gold Price, 2 February 2021) – On Tuesday, the price of gold in Delhi Sarafa Bazar decreased by Rs 480 per 10 grams. In the capital Delhi (Delhi), the new price of gold of 99.9 grams purity has now been Rs 47,702 per 10 grams. Earlier in the trading session, gold had closed at Rs 48,182 per 10 grams. At the same time, the price of gold in the international market today fell to $ 1,847 an ounce.

read this also- Budget 2021 is coming to market Sensex jumped to near 50 thousand, investors earned 4.4 lakh croreNew Silver Prices (Silver Price, 2 February 2021) – Silver prices recorded a slight decrease on Tuesday. Silver prices fell sharply today in Delhi Bullion market. Now its prices have fallen by Rs 3,097 to Rs 70,122 per kg. In the international market today, the price of silver fell to $ 27.50 an ounce.

Why gold and silver fall – According to Tapan Patel, Senior Analyst (Commodities) at HDFC Securities (HDFC Securities), gold prices have been declining due to the delay in the stimulus package in the US. At the same time, Navneet Damani, VP Commodities of Motilal Oswal Financial Services, says that Finance Minister Nirmala Sitharaman has announced a cut in custom duty on gold in Budget 2021. In such a situation, investors are profiting at a higher level of gold prices. Therefore, the prices of gold and silver are declining.

read this also- Indian Railways: Railways resumed this facility for passengers, know who will benefit

Announcement of reducing import duty by 5 percent Finance Minister Nirmala Sitharaman has announced a huge cut in the import tax on gold and silver in the budget presented for the financial year 2021-22. There is a 5 percent reduction in import duty on gold and silver. At present, 12.5 percent import duty has to be paid on gold and silver. Only a 7.5 percent import duty will have to be paid after deducting 5 percent. This will see the fall in the prices of gold and silver.

Also read: Budget 2021-22: Modi government formulated scheme for 50 crore laborers, social security will be expanded

Central government is giving opportunity to buy cheap gold – The Sovereign Gold Bond of the Central Government has again been opened to investors. You can invest in this scheme from 1 February to 5 February 2021. In this, the government gives an opportunity to buy gold at low rates from the market. The Reserve Bank of India (RBI) has fixed the price of gold subscription at Rs 4,912 per gram. This is the eleventh occasion of the Sovereign Gold Bond Scheme 2020-21 Series (Sovereign Gold Bond Scheme 2020-21 Series XI).

Leave a Reply

Your email address will not be published. Required fields are marked *