Gold, Silver Prices See Sharp Decline as Budget 2024 Cuts Custom Duty | Time to Buy Gold & Silver?

GOLD | SILVER | BUDGET 2024 | INVESTMENT

Precious metals saw a sharp drop in prices on budget day as govt cuts custom duties from 10% to 6% in a bid to enhance domestic value addition in gold and precious metal jewellery sector.

Gold futures on MCX fell 4,200 points to 68,500 on the Budget day, against the previous closing price of 72,700. Silver futures on MCX fell 4,000 points to 85,000, against previous closing price of 89,000.

Is it a good opportunity to buy gold and silver? Watch the video to know!

#budget #budget2024 #gold #silver #investmentopportunities

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[govindabhat]

Price of gold should be regulated bcoz even poor people require gold for marrying off their daughters.

[stevenvalero]

India now get their gold for less, Custom Duty from 15% down to 6% clever. Greater Demand will move price higher.

[jpmedia]

Kindly make videos with voices, we are tired of reading news paper so we came here to visualise and hear.

[sivasankaranav]

Iniyum kurayunna sadhanam aaru vaangum ??? Ithorutharam gambling aanallo ???

[singerponni]

People suffer from poverty How can they buy gold even middle class people can't do this budget only satisfy upper class and corporate people

[cnu]

REASON: Sovereign Gold Bond Scheme 2016-17 – Series I bond applications were accepted between July 18, 2016, and July 22, 2016. The bond was issued on August 5, 2016.

The issue price of the Sovereign Gold Bond 2016-17 – Series was Rs 3, 119, and the bonds were issued on August 5, 2016, hence the tentative final redemption date is the first week of August 2024. AFTER THIS THE PRICE WILL INCREASE.

[Haardik.Bansal--]

Indian citizens loose upto 9 lakh crore in their household bullion value. And if FM doesn't increase GST on gold, govt Wil loose 50000 cr annually revenue on singally gold.
Fool FM

[RKV]

Arul Jaitely had resolved the smuggling crime. But Nirmala'ji- headed the Customs department has supported the creation a smuggled gold market which will manage the smugglers' sales/ profits for the next 5 years, till Nirmala hikes the duty back to 15%.
Many poor-class people had pledged gold at higher rates. These poor people will lose heavily and will be in misery because they will have to repay the loan (bullet payment) or ownership is lost forever within a week. FM has no "feel" of the lives and miseries of the poor class. Gold smuggling also facilitated terrorism.
Nirmala ji should be responsible for the creation of the smuggled gold market and the misery now caused to the poor class who pledged the gold for their family or business purposes.

[pritampolei]

Jo jo saving nehi kar pa rahe hai paisa gold kharid ne keliye.krishak samridhi jojana, stipend, mahila vikas labour cost increase se ghar chalao.nehi toh wait for 2029 Khatakhat phataphat vote for khangresh🎉