#Gold Price

Gold has always been the first refuge of nervous investors in times of crisis.. (Photo credit: unsplash)

  • In the gold pecking order, India is at the top as the largest importer of the yellow metal
  • Amid the COVID-19 pandemic, gold prices witnessed record highs in India last year
  • According to the World Gold Council, 2020 marked a new low for Indian gold demand since it was lower by 42%

.New Delhi, Delhi, India
Gold in India is seen as both an investment and ornaments. (Photo credit: Representative Image/Unsplash)

  • India is one of the largest consumer of gold with more than 25% od global demand share
  • According to Gold Outlook 2021, Gold was one of the best performing major assets of 2020
  • Here are a few factors that affect the gold prices and should be kept in mind by a potential investor

.New Delhi, Delhi, India
Finance Minister Nirmala Sitharaman also announced a reduction on customs duty on products of non-alloy and steel. (Photo credit: Representative Image/Unsplash)

  • Gold and silver presently attract a basic customs duty of 12.5%
  • Customs duty on products of non-alloy and Steel reduced to flat rate of 7.5%
  • Duty on copper scrap reduced from 5% to 2.5%

.New Delhi, Delhi, India
In the previous trade, gold had closed at Rs 49,618 per 10 gram. (Photo Credit: Unsplash)

  • Gold prices fall from Rs. 49,618 per 10 gram to Rs 48,659 per 10 gram
  • Silver prcies tumble from Rs 60,889 per kg to Rs 59,301 per kg
  • This comes following global cues and rupee appreciation

.New Delhi, Delhi, India
The gold prices had closed at Rs 49,486 per 10 grams in the previous trade. (Photo Credit: PTI)

  • Gold prices per 10 grams inched up by Rs 65 to Rs 49,551
  • Silver prices jumped up by Rs 298 to Rs 61,232 per kilogram
  • In International market, gold prices were trading at $ 1,868 an ounce

.New Delhi, Delhi, India
The value of the gold bond is Rs 5,051 per gram. (Photo Credit: Unsplash)

  • The Centre started the sovereign gold bond scheme from November 9 to November 13
  • A minimum of one gram of gold can be invested in gold bonds
  • Gold bonds can be taken in multiples of one gram of gold