New Delhi: Gold prices marginally increased in India on July 30, 2024, i.e., Tuesday. The 24 karat yellow metal rate was up 0.25 per cent at 68,570. Meanwhile, the silver price also rose by 0.56 per cent at 81,420.
Presenting Budget 2024, Finance Minister Nirmala Sitharaman announced a reduction in custom duty on gold and silver, due to which prices fell. However, the gold and silver rates increased on July 29. It was for the first time after the budget that gold and silver prices recorded a rise. On Tuesday, gold reached Rs 68800. The rate of silver is at Rs 82192/kg.
Gold rate in India today
Gold 24 Karat (Rs)
6874
68740
687400
6874000
194875
Gold 22 Karat (Rs)
6301
63012
630117
6301167
178635
Gold 20 Karat (Rs)
5728
57283
572833
5728333
162396
Gold 18 Karat (Rs)
5156
51555
515550
5155500
146156
Gold Price in Indian cities
Cities
22 Karat Rate
24 Karat Rate
18 Karat Rate
Chennai
₹64,150.00
₹69,980.00
₹52,550.00
Mumbai
₹63,400.00
₹69,160.00
₹51,880.00
Delhi
₹63,550.00
₹69,310.00
₹52,020.00
Kolkata
₹63,400.00
₹69,310.00
₹52,202.00
Ahmedabad
₹63,450.00
₹69,210.00
₹51,920.00
Jaipur
₹63,550.00
₹69,310.00
₹52,020.00
Patna
₹63,450.00
₹69,210.00
₹51,920.00
Lucknow
₹63,550.00
₹69,310.00
₹52,020.00
Ghaziabad
₹63,550.00
₹69,310.00
₹52,020.00
Noida
₹63,550.00
₹69,310.00
₹52,020.00
Ayodhya
₹63,550.00
₹69,310.00
₹52,020.00
Gurugram
₹63,550.00
₹69,310.00
₹52,020.00
Chandigarh
₹63,550.00
₹69,310.00
₹52,020.00
In the Union Budget 2024-25, Customs duties on gold and silver reduced to 6 per cent and that on platinum to 6.4 per cent.
New wastage norms for gold, silver jewellery exports on hold
Directorate General of Foreign Trade (DGFT) has stated that the new norms for permissible wastage amount for gold, silver and platinum content in jewellery exports has been put on hold till August 31, 2024. The industry players have raised concerns over the government’s revised norms related to the permissible amount of wastage and standard input output with regard to the export of gold and silver jewellery.
Standard input-output norms (SION) rules define the amount of inputs required to manufacture a unit of output for export purposes.
Gold Price on July 29, 2024
Gold prices plunged by Rs 950 to Rs 71,050 per 10 grams on July 29, 2024 due to weak demand from jewellers. Silver also fell Rs 4,500 to Rs 84,500 per kg.
“Last week, Finance Minister Nirmala Sitharaman in the Budget announced a customs duty cut from 15 per cent to 6 per cent, weighing on the domestic front.
“Post the cut in import duty, gold premiums in India jumped to their highest level in a decade,” Manav Modi, Senior Analyst of Commodity Research at Motilal Oswal Financial Services Ltd, said.
On Tuesday Gold price touched Rs 68,800 on July 30, 2024. The silver price was at Rs 82192/kg. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
