look news india
Mumbai: Gold prices in Mumbai jewelery market increased again today after falling initially. Overall, silver prices remained under pressure amid sideways volatility. The news was that the prices of gold in the world market were from 2621 to 2644 to 2645 dollars, to a low of 2653 to 2654 per ounce. Inflation also increased due to good GDP figures in America and increase in consumer spending, while gold and currency markets rose in the world market due to less possibility of further cut in interest rates. Meanwhile, gold prices rose by Rs 200 to Rs 99.50 per 10 gram from Rs 78,800 in Ahmedabad jewelery market today. Whereas in Ahmedabad the price of silver decreased by Rs 2000 per kg to Rs 88 thousand. In the global market, silver prices ranged from $29.64 to $30.09 to $30.10 and a low of $30.46 to $30.47 an ounce.
Meanwhile, the price of gold in Mumbai bullion market today opened at Rs 75,870, up from Rs 99.50 earlier. While the price of 99.90 was Rs 76175 to Rs 75916 to Rs 76287. Whereas in Mumbai the price of silver without GST ranged from Rs 88430 to Rs 87197 to Rs 87904. Gold and silver prices in Mumbai were 3 percent more than this price including GST. The appreciation of the dollar against the rupee in the Mumbai currency market today had a positive impact on the jewelery market. Meanwhile, in the global market, platinum prices were down from $927 to $933-934 an ounce, while palladium prices were down from $973 to $982-983 an ounce. Global copper prices witnessed a slow decline. One-sided fluctuations were seen in the price of crude oil in the world market. Brent crude prices were at $73.20 to $73.25 a barrel, from $72.38 to $73.49 to $73.25.
Government reduced import duty
Gold price in Nepal fell by 16,000 Nepali rupees
Ahmedabad: Due to change in government policy in Nepal, gold has suddenly become cheaper. Gold prices reached Rs 50 in a single day. 15,900 per tola (11.66 grams) has been reduced. Nepal government has reduced the customs duty on gold import to half. After the change in gold import tax in India, Nepal government has reduced the customs duty from 20 percent to 10 percent. In the Union Budget in July this year in India, Finance Minister Nirmala Sitharaman had reduced the import duty on gold and silver from 15 percent to 6 percent and due to this, gold became cheaper by about Rs 6000.
After the customs duty on gold in Nepal was reduced from 20 percent to 10 percent, the price of hallmark gold has fallen from Rs 1,67,200 per tola to Rs 1,51,300 per tola.
Market insiders said after the government reduced the import duty on gold in Nepal, gold prices fell to Rs 15,900 per tola (in Nepali rupees). After reducing the duty in India, now the duty has been reduced in Nepal also. However, despite the fall in prices in Nepal, experts were saying that there is no possibility of increase in smuggling of gold from there to India. One Nepalese rupee is equal to 63 Indian paisa. Given this, this price cut in Indian Rupees amounts to Rs 10,056.