Gold prices are
still expected to decrease. Gold prices in the international market
has been a steady decline in, But the central government in India's
gold import policy and the strengthening of the dollar in gold prices
could not go down as expected. For new government at the center is
expected to reduction of import duties on gold and rupee strengthened
against the dollar signs are coming. Considering
this, now gold prices remains scope to reduce just Rs 20,000 per ten
grams. It is clear that a stronger rupee against the dollar, gold is
expensive, while it is weak gold prices down.
Read Must- The Reason of Down Turn Gold Price Low in India
Read Must- The Reason of Down Turn Gold Price Low in India
January 16,
2012 import duty on Standard gold was Rs 300 per ten grams.
That means before the import duty was accounted per
ten grams percent at the same price as a percentage of it has been
implemented. January 17, 2012 was increased two percent of the price.
In fiscal year 2012-2013, the budget of import duty was increased
from two to four percent. After that 21 January, 2013 it was
increased from four to six per cent and after 5th
june it was increased from six to eight percent. Import duty on gold
was increased last time from eight to ten percent on August 13,
2013.
The
reason of degradation:
How will low Price in India:
Gold in India is expensive compared to international prices.
Because of it ten percent import duty on gold and the dollar will be
worth Rs 59. The Center government is now over 50 per cent import
duty on gold is expected to decline. The price of the dollar is
expected to remain between 57 to 58 rupees. It remains scope for gold
prices.
Prices
in the U.S. decreased 34 per cent in 33 months: Gold
prices in the international market during the last 33 months has
declined by 34 per cent. In New York, 7 September, 2011 highs 1900.30
dollars per ounce of gold (28.35 grams) which now come close to $
1255, while in India at Rs 27,500 per ten grams on the day of
Standard Gold prices were at which is even today. Gold imports mean
that central government policy and a stronger rupee against the
dollar in the international market decline in gold prices could not
get the benefit of Indian customers, because 7 September 2011, the
value of dollar was Rs 46.06. At that time, the import duty on gold
was 300 per ten grams. Today's dollars of Rs 59 and ten per cent
import duty price. In such reduction in import duty and about to
rupee against the dollar is likely to decline in gold prices.
3 comments:
Instead of gold why can't we go with sterling silver jewellery which has more designs and also cost effective.
The market research of epicresearch.co The government on Wednesday raised import tariff value on gold to $385 per 10g and silver to $543 a kg, taking cues from firm global price trends.
Wow Fabulous Sharing! I'm glad to find your post. I would like to suggest a jewellery website if anyone wants to Buy Jewellery Online in India.
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