Gold Price Today: Silver became more expensive by more than Rs 1600, gold also rose, check new rates

Gold/Silver Price Today: In the international market, gold was trading marginally higher at $ 1,814.94 an ounce, while silver remained almost unchanged at $ 23.64 an ounce.

new rates of gold and silver released

Gold/Silver Price Today: Amidst the weakening of the rupee against the dollar, the bullion market in the national capital on Wednesday Silver Price There was a jump of Rs 1,603 in the market, while there was a slight rise in gold in the local market. gold price (Gold Price, 16. An increase of Rs. According to HDFC Securities, there has been a slight rise in gold prices due to the weakening of the rupee. The rupee depreciated by 12 paise to Rs 74.70 per dollar during early trade in the interbank forex market.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “There was a marginal rise in gold prices due to depreciation of rupee. In the international market, gold was trading marginally higher at USD 1,814.94 an ounce, while silver remained almost unchanged at USD 23.64 an ounce.

New Gold and Silver Price (Gold/Silver Price on 19 January 2022)-

In the Delhi bullion market, gold prices on Wednesday rose by Rs 16 to Rs 47,878 per 10 grams. In the last trading session, gold had closed at Rs 47,862 per 10 grams.

Silver prices rose by Rs 1,603 to Rs 63,435 per kg, which had closed at Rs 61,832 per kg in the previous trading session.

Patel said, in the absence of any indication for further direction, the price of gold remained almost stable at around $1,800.

Demand to reduce GST on gold jewelery

The All India Gem and Jewelery Domestic Council (GJC) has urged the government to reduce the Goods and Services Tax (GST) rate to 1.25 per cent in the Budget 2022. In its pre-Budget 2022-23 recommendations to Union Finance Minister Nirmala Sitharaman, the GJC has demanded a 1.25 per cent GST on gold, precious metals, gems and jewelery made of such items. At present, the rate of GST on gems and jewelery is 3 percent.

PAN card limit to be increased to 5 lakhs

The GJC has also urged the Finance Minister to increase the PAN card limit from Rs 2 lakh to Rs 5 lakh, as many households in rural India do not have a PAN card and in times of need, especially during the global pandemic. One has to face difficulty in arranging the minimum required jewellery.

Further, the industry body requested that the gems and jewelery industry should be allowed EMI facility for the purchase of 22 carat gold jewellery, which would lead to a substantial increase in the turnover of the industry post the pandemic.

Also read- Budget 2022: How will the railway budget be, how much will the common man get, the government can make these big announcements

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