Gold became cheaper by ₹4,000, silver also fell by a huge ₹6,000

Gold Price: After the reduction in custom duty (import tax) on gold and silver in the budget, gold has become cheaper by Rs 4000 and silver by Rs 3600 in 2 days. The government has reduced the custom duty on gold and silver from 15% to 6% in the budget. This has led to this fall in prices. The day after the budget, i.e. today, July 24, gold has fallen by Rs 408 to Rs 69,194. On July 23, it had fallen by Rs 3600. On the other hand, silver has fallen by Rs 22 today to Rs 84,897 per kg. Yesterday, silver had fallen by Rs 3600.

Gold price in 4 metros and Bhopal

• Delhi: The price of 10 grams of 22 carat gold is Rs 65,100 and the price of 10 grams of 24 carat gold is Rs 71,010.
• Mumbai: The price of 10 grams of 22 carat gold is Rs 64,950 and the price of 10 grams of 24 carat gold is Rs 70,860.
• Kolkata: The price of 10 grams of 22 carat gold is Rs 64,950 and the price of 10 grams of 24 carat gold is Rs 70,860.
• Chennai: The price of 10 grams of 22 carat gold is Rs 64,900 and the price of 10 grams of 24 carat gold is Rs 70,800.
• Bhopal: The price of 10 grams of 22 carat gold is Rs 65,000 and the price of 10 grams of 24 carat gold is Rs 70,910.

Demand for gold will increase, prices will not fall much

According to commodity expert Ajay Kedia, this time in the budget, the custom duty on gold and silver has been reduced from 15% to 6%. Due to this, its price is seeing a decline. But after the reduction of custom duty, the demand for gold will increase rapidly in the coming days.

There may be a fall in gold and silver right now, but it can only be called duty adjustment. Even if gold falls for a few days, it will cover it again. In view of the elections in America and global tensions, the prices of gold and silver will not fall much. This is a good opportunity to buy.

Gold prices have increased by more than Rs 5,500 so far this year

Gold prices have increased by Rs 5,842 per 10 grams so far this year. At the beginning of the year, it was at Rs 63,352. Which is now at Rs 69,194 per 10 grams. On the other hand, silver was at Rs 73,395 per kg at the beginning of the year. Which has now reached Rs 84,897 per kg. That is, silver has increased by Rs 11,502 this year.

Keep these 3 things in mind while buying gold

1. Buy only certified gold

Always buy certified gold with the hallmark of Bureau of Indian Standards (BIS). There is a 6-digit hallmark code on gold. It is called Hallmark Unique Identification Number i.e. HUID. This number is alphanumeric i.e. something like this - AZ4524. Through hallmarking, it is possible to find out how many carats a gold is.

2. Cross check the price

Cross check the correct weight of gold and its price on the day of purchase from many sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered to be the purest gold, but jewelry is not made from it because it is very soft.

3. Don't pay in cash, take the bill

While buying gold, it is better to pay through UPI (like Bhima App) and digital banking instead of cash payment. If you want, you can also pay through debit or credit card. After this, do not forget to take the bill. If you have ordered online, then definitely check the packaging.