Gold Prices Fall: Big blow to those who invest in gold, about 11 lakh crore rupees drowned in a day
Gold Prices Down: Often you must have seen that everyone wants to invest their money in the same place where they can get a good return along with the safety of their money. In such a situation, people consider investing in gold to be very beneficial. Let us tell you that after the budget, there was a fall in the prices of gold, due to which those who invested in gold have suffered a big blow. Let us know about it in detail in the news...
Khabar TV (Bureau): Gold Prices Fall: This time Nirmala Sitharaman has presented the seventh consecutive budget. This first budget of the Modi 3.0 government is bringing a lot of changes this time. After the presentation of Budget 2024, it has been the darkest time in the history of gold.
According to media reports, after the budget, gold prices have fallen by more than 5 percent. Due to which people are expected to lose more than Rs 10.7 lakh crore in a day. Actually, Finance Minister Nirmala Sitharaman presented the budget in the Budget House on July 23, in which the announcement of reduction in custom duty on gold has been made.
Gold price may rise by 14.7% in 2024
Let us tell you that till a day before the budget (budget 2024), the price of gold had increased by 14.7% this year. Indian families have a habit of buying as much gold as possible and keeping it with them. The purpose behind this is to increase the price of gold and earn profit.
But after the 2024 budget, lakhs of families in the country have suffered losses. According to a report, the number of families keeping gold is much higher than those investing in the stock market.
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The country has the largest gold reserves
According to reports released by the media, about 11 percent of the world's total gold is in India (gold storage in India). It is said that this is more than the gold reserves of Switzerland, America and Germany etc. According to a report, people and temples in India have a total of more than 30000 tons of gold.
This was announced in Budget 2024
Finance Minister Nirmala Sitharaman has reduced the basic custom duty on gold and silver from 10 percent to 6 percent in Budget 2024. Apart from this, the infrastructure and development cess on gold has been reduced from 5 percent to 1 percent.
According to experts, due to this the tax on gold has been halved from 18.5 percent to 9 percent, which also includes GST.