look news india
The central government on Tuesday announced to reduce customs duty on many products including gold and silver from 15 percent to 6 percent. After this important announcement of the government, the price of gold in Delhi fell by Rs 3,350 to Rs 72,300 per 10 grams. Silver also closed at Rs 87,500 per kg with a decline of Rs 3,500.
Gold prices fall due to reduction in customs duty
On Thursday, gold prices fell by Rs 1,000 to Rs 70,650 per 10 grams in Delhi's bullion market. While silver fell by Rs 3500 and closed at Rs 84 thousand per kg. Gold and silver prices started falling after the government announced on Tuesday in the budget to reduce customs duty on many products including gold and silver from 15 percent to 6 percent.
Three days later, due to strong signals in the international market, the bullion market of the country has regained its shine. Therefore, there was some strength in the precious metals. On Friday, gold rose by 50 percent to Rs 70,700 per 10 grams in the bullion market of Delhi.
Gold prices rise in futures market
Gold prices on Friday rose by Rs 328 to Rs 67,790 per 10 grams in promising trade amid strong spot demand. On the Multi Commodity Exchange, the contract for August delivery rose by Rs 328 or 0.49 per cent to Rs 67,790 per 10 grams. 6050 lots were traded in it. Globally, gold rose 0.70 per cent to $ 2,416.70 an ounce in New York.
Silver futures prices fall
Silver prices fell by Rs 321 to Rs 81,010 per kg in futures trade on Friday. Silver for September delivery on MCX fell by Rs 321 or 0.39 per cent to Rs 81,010 per kg. Globally, silver prices in New York fell by 1.13 per cent to $ 28.99 per ounce.
