Gold Price Today: Wedding season is going on in India. Due to which the demand for gold has increased. Amidst increasing demand, discounts on gold in India have come down to their lowest level. According to the news agency Reuters, home sellers had given a discount of $12 oz. That’s less than $40 last week. Let us tell you, gold prices in India include 10.75% import duty and 3% GST.
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How has been the last week?
Due to the strong rally in the global market, gold rose by Rs 901 per ten grams and silver by Rs 2363 per kg in the domestic bullion market last week. In the reporting week, there was a rise in precious metals in the global market. Spot gold climbed $37.7 an ounce to reach $ 1977.36 an ounce on the weekend. Simultaneously, US gold futures also jumped by $ 41.9 an ounce to $ 1977 an ounce. Similarly, silver spot rose by USD 1.12 an ounce to USD 25.69 an ounce over the weekend.
Last week, the effect of the foreign market’s boom was also in the country’s largest futures market MCX. On the weekend, gold rose by Rs 901 to reach Rs 53071 per ten grams. At the same time, gold mini fell marginally by Rs 46 to Rs 52885 per ten grams. Similarly, silver rose by Rs 2363 to Rs 69391 per kg at the local level during the period under review. Also silver mini became costlier by Rs 2281 to Rs 69458 per kg on the weekend.