In recent days there has been a big drop in the stock market. On Thursday too Sensex-Nifty had a good start and after a while it seemed to be trading in decline again. But not only the stock market, gold also falls continuously. Gold prices have fallen by more than Rs 5,000 since November 1, that is, in just two weeks. Let us know what is the latest price of 24 carat gold today…
Gold is getting cheaper
This year there has been a huge fluctuation in gold prices. On the one hand, during the presentation of Modi’s first budget 3.0 (Union Budget 2024), it had fallen drastically after the government announced removal of customs duty on gold and silver; on the other, starting next month, the price of gold. He regained such momentum that he reached the top, breaking all records. But there has been a drop in the price of gold over the past two weeks. On the same Thursday, the price of 10 grams of 24-carat gold on the Multi Commodity Exchange (MCX) fell by over Rs 700.
The gold rate fell 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. November 1, the price of gold expiring on December 5 was Rs 78,867 per 10 grams, but the Thursday November 14, 2024 means today. It fell to Rs 73,750 per 10 grams. According to this, there has been a huge drop in the gold price of Rs 5,117 per 10 grams from November 1 to November 14.
What is the price of gold in the domestic market?
Along with the Multi Commodity Exchange, a drop in the price of gold has also been observed in the domestic market. According to the Indian Bullion Jewelers Association (IBJA) website, on November 1, the price of fine gold (999) had crossed Rs 81,000 per 10 grams, but now its price has dropped to Rs 75,260 per 10 grams. . This means that the price of 24 carat gold has decreased by more than Rs 6,000 in two weeks. If we look at the price of gold of other qualities in the domestic market…
quality Price (according to IBJA)
24 carats 75,260 rupees/10 grams
22 carats Rs 73,450/10 grams
20 carats Rs 66,980/10 grams
18 carats Rs 60,960/10 grams
It should be noted that this gold price in the domestic market is without 3 percent GST and free of charge. The execution of charges varies and due to this changes are observed in the price of gold in various cities of the country.
Gold fell sharply after the budget
Why was there a sudden big drop in the price of gold after Finance Minister Nirmala Sitharaman presented Modi’s Budget 3.0 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 customs duty on gold from 15 per cent to 6 per cent and its effect was seen in the form of a drop of about Rs 4,000 in the price of gold on the budget day itself and this drop continued for several days. .
How to check the purity of gold
Let us tell you that the price of gold jewelry varies across the country due to excise duty, state taxes and manufacturing charges. Let us tell you here that in most cases only 22 karat gold is used to make jewelry while some people also use 18 karat gold. The Hall mark is registered on jewelry according to carat. 999 is written on 24-carat gold jewellery, while 958 is written on 23-carat gold jewellery, 916 on 22-carat gold jewellery, 875 on 21-carat gold jewelery and 750 on 18-carat gold jewellery.
