Gold price today: Gold prices fell again after the increase, Jan 22 Prices in major cities today

Gold Price Today: Gold and silver prices have come down in Indian markets today. Gold futures on MCX fell by 0.33 percent to 45,767 per 10 grams, while silver fell by 0.28 percent to 65,715 per kg. In the last session, gold had jumped 600 or 1.25 percent per 10 grams, while silver had risen
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Gold price today: Gold prices fell again after the increase, Jan 22 Prices in major cities today

Gold Price Today: Gold and silver prices have come down in Indian markets today. Gold futures on MCX fell by 0.33 percent to 45,767 per 10 grams, while silver fell by 0.28 percent to 65,715 per kg. In the last session, gold had jumped 600 or 1.25 percent per 10 grams, while silver had risen by 2 percent or 1,300 per kg. Gold prices have also seen a drop in global markets today. The price of 22-carat gold in New Delhi is Rs 44,550 per 10 grams, while in Chennai it fell to Rs 5,570.

The rate in Mumbai was Rs 44,200. The price of 24-carat gold in Chennai was Rs 46,450 per 10 grams. According to HDFC Securities, on Tuesday, the price of gold in the national capital rose by Rs 83 to Rs 45,049 per 10 grams. Spot gold rose 0.4 percent to $ 1,736.06 an ounce after reaching its all-time high at 1,738.65 on March 5 in the international market. US gold futures rose 0.5% to $ 1,737.

The fall in gold imports during the 11 months of the current financial year has helped limit the country’s trade deficit to the US $ 84.62 billion as compared to US $ 151.37 billion a year ago. India is the largest importer of gold, which mainly caters to the demand of the jewelry industry.

Indian imports the bulk of its gold and silver needs. Duty was increased by 10 percent from July 2019, so the prices of gold rose sharply. In the budget presented on February 1, the government has reduced the customs duty.

Reducing the import duty on gold to 7.5 percent was a long-standing demand of the James & Jewelry industry. The higher import duty was not only indirectly promoting illegal gold transactions but was also hurting the government’s revenue. It is believed that this will put a stop to smuggling.