Jhalawar : When the gift of reduction in custom duty (import tax) on gold and silver was received in the budget, its prices fell. After the tax cut, gold fell to Rs 3250 per ten grams in just five days, while the price of silver also decreased to Rs 7000 per kg. After the reduction in prices, the bullion market started to shine again. For the last few days, the prices of gold and silver were continuously rising. Due to this, customer traffic in the bullion market had completely stopped. After the announcement of tax reduction in the budget, the prices of gold and silver have come down. In such a situation, bullion traders are expecting good business in the coming days.
Bullion trader Omprakash Soni said that due to the continuous rise in the prices of gold and silver, the business in the bullion market was completely affected. During this time, only customers attending wedding ceremonies were coming to shop. Other customers had kept away from the market. Now, with the reduction in prices, the business can pick up pace again. According to bullion traders, the government has reduced the custom duty on gold and silver from 15 percent to 6 percent. If market experts are to be believed, after the reduction in tax, the demand for gold will increase further in the coming days.
They say that
After the reduction in taxes in the general budget, the prices of gold and silver are continuously falling, but this fall is temporary. Many factors work for the fluctuations in the prices of both metals. Due to which it cannot be said that the prices will decrease in the future as well. Now is the right time for customers to buy gold and silver.
Om Soni, bullion trader
