Mumbai
There has been a big decline in the share market in the last few days. On Thursday also Sensex-Nifty made a strong start and after some time again appeared to be trading in decline. But not only the stock market, gold is also continuously falling. Gold rates have fallen by more than Rs 5000 since November 1, i.e. in just two weeks. Let’s know what it is Latest rate of 24 carat gold today…
Gold is continuously becoming cheaper
There has been a big fluctuation in the prices of gold this year. On one hand, during the presentation of the first budget of Modi 3.0 (Union Budget 2024), it fell drastically after the government announced the removal of custom duty on gold and silver, on the other from the very next month, the gold price regained such momentum. He reached the top breaking all the records. But there has been a decline in the gold rate for the last two weeks. On Thursday itself, the rate of 10 grams of 24 carat gold on Multi Commodity Exchange (MCX) fell by more than Rs 700.
Gold rate decreased so much in two weeks
If we look at the changes in gold prices on MCX in the last two weeks, at the beginning of the month i.e. on November 1, the gold rate with expiry of December 5 was at Rs 78,867 per 10 grams, but Thursday, November 14, 2024 means today. It fell to Rs 73,750 per 10 grams. According to this, there has been a huge fall in the price of gold by Rs 5,117 per 10 grams from 1 to 14 November.
What is the price of gold in the domestic market?
Along with the Multi Commodity Exchange, a decline in the price of gold has been seen in the domestic market also. According to the website of Indian Bullion Jewelers Association (IBJA), on November 1, the price of fine gold (999) had crossed Rs 81 thousand per 10 grams, but now its price has come down to Rs 75,260 per 10 grams. This means that the rate of 24 carat gold has decreased by more than Rs 6000 in two weeks. If we look at the price of other quality gold in the domestic market…
Quality Price (as per IBJA)
24 carat Rs 75,260/10 grams
22 carat Rs 73,450/10 grams
20 carat Rs 66,980/10 grams
18 carat Rs 60,960/10 grams
It is noteworthy that this price of gold in the domestic market is without 3 percent GST and making charge. Making charges vary and due to this, changes in the price of gold are seen in various cities of the country.
Gold fell sharply after the budget
Why was there a sudden big fall in the price of gold after Finance Minister Nirmala Sitharaman presented the Modi 3.0 budget in Parliament on July 23? So let us tell you that many changes were announced in the budget and one of them was related to Gold-Silver. Actually, the government reduced the custom duty on gold from 15 percent to 6 percent and its effect was seen in the form of a fall of about Rs 4000 in the price of gold on the budget day itself and this fall continued for several days. Was.
How to check purity of gold
Let us tell you that the price of gold jewelery varies across the country due to excise duty, state taxes and making charges. Let us tell you here that mostly only 22 carat gold is used for making jewellery, while some people also use 18 carat gold. Hall mark is recorded on the jewelery according to the carat. 999 is written on 24 carat gold jewellery, while 958 is written on 23 carat, 916 on 22 carat, 875 on 21 carat and 750 on 18 carat.
