If you are planning to buy gold, then know first… whether the gold rate has become cheaper or increased in a week

New Delhi: If you are planning to buy gold, then this news is for you. Actually, a big change has been seen in the price of gold in a week. While the stock market has seen a decline for the past few months, on the other hand, the gold rate has reached the sky. In the last one week also, the price of gold has increased rapidly and it has become expensive by about Rs 1300 per 10 grams. This change has been seen not only in the Multi Commodity Exchange, but also in the domestic market.

Gold price increased rapidly this year

Last year, when Finance Minister Nirmala Sitharaman announced the reduction of Gold Custom Duty during the first budget of Modi 3.0, then suddenly the prices of gold had collapsed. But if we talk about this year, then the Gold Rate is continuously reaching new peaks. Even after the budget, its prices did not break. If we look at the change in gold prices in a week on MCX, then on the last trading day of last week, Friday (14 February), the price of future gold with expiry on 4 April was Rs 84,687 per 10 grams, which reached Rs 86,020 on 21 February. According to this, the gold price has increased by Rs 1333 per 10 grams in a week.

Gold is expensive in the domestic market too

Now if we look at the change in gold prices in the domestic market, then its prices have changed throughout the last week as compared to 14 February. According to the website of the Indian Bullion Jewelers Association, on the first trading day of last week, Monday (17 February), it became cheaper than its previous close of around 86000 and came down to Rs 85,254 per 10 grams. But then its prices saw a jump every day. On February 18, 10 grams of 24 carat gold was priced at Rs 85,690, on February 19 it was priced at Rs 86,733 and on February 20 it was priced at Rs 86,520 per 10 grams. However, on Friday, the last trading day of the week, it fell to Rs 86,090 per 10 grams. That is, despite the fluctuations last week, gold has become costlier by Rs 836 in the domestic market as well.

Making charges and taxes are levied separately

Please note that the prices released by the Indian Bullion Jewelers Association provide information about the standard price of gold of different purities. All these prices are separate from tax and making charges. The rates released by IBJA are the same across the country but its prices do not include 3% GST. Please note that while buying jewellery, the rates of gold or silver are higher because they are inclusive of tax.