Namaste 🙏🏻🇮🇳
Hello friends, How are you all ?? Wishing you all Happy and prosperous life ahead.
There was a huge fall in gold prices after the release of India's budget. The effect of gold prices which started increasing after the Covid-19 pandemic is still there till today. Before Covid, the rate of gold which was of 24 karat was Rs 35000 per 10 grams, After that suddenly the gold price reached highest without any break. After that there was a gradual decline but the customers did not get as much satisfaction as they got after release of Budget 2024.
The government has slashed customs duties on gold and silver by 6%. The basic customs duty has been reduced to 5% from 10%, and the Agriculture Infrastructure and Development Cess lowered to 1% from 5%. This decision will effectively bring down the overall taxes on gold and silver in the country to 9% from an earlier 18.5% inclusive of GST.
The precious metal is currently trading at Rs 70,800 per 10 gram, Expert were saying that by Diwali 2024, gold will reach Rs 1 lakh per gram but thankfully gold has started recovering. Somewhere, the cheap price has brought relief to many people who invest something in gold every year especially women of India.
Everyone wants to take advantage of the opportunity, so this time my father also took advantage and he bought 100 grams of gold at the rate of 70,100/10 grams and kept it for my marriage. As One is useful for wearing, the second one is a good investment with low risk. Gold has long been an important part of Indian weddings, as not only it is a symbol of good luck and prosperity for the newly married couple, and it is also represents a financial investment to start beginning new phase of your life.
If you look carefully at the good bar, Switzerland is written on it, which means that this is imported gold, the gold has come from outside, This gold is 100%pure gold, With 999.9. There was a slight difference in the rate for buying this imported gold.
Because those who hold gold in India, are not selling the gold, So we were forced to take this imported Gold at some higher Rate. 100 grams pure gold in my hand which nearly cost me around 7 Lakhs paying 3% of GST(taxes of India), it is difficult for me to believe to gold such big amount in my Hand. My father has not buy for any investment source, in future he will covert this pure gold into jewellery. Now i don't worry how high the price of gold will go, even it will benefits the many gold investors too.
Do you also invest in gold? Do you think that gold is a good source of investment?
Thankyou 😃
@gargi 🙏🏻🇮🇳
Posted Using InLeo Alpha
Nice gold
thankyou
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