Will gold import duty be reduced in today's budget?

(Gujarat News Office) Mumbai, Ta. 31 January 2020, Friday

Pre-Budget trade in Mumbai jewelery market today saw a drop in gold prices due to rising headlines while silver prices strengthened. Businesses, however, were slow and the players' eyes were on the budget released on Saturday. Everyone is keeping an eye on whether the import tariff reduces in the budget.

At present, import duty on gold has been 5.9% and the total burden of calculating GST of 5% is 8.3%. Gold smuggling has increased recently in the country with high import duty. In such an environment, now the budget will reduce import duty, smuggling will reduce and consumers will get goods at reasonable prices.

Meanwhile, gold prices in the world market today fell from $ 8 to $ 8 an ounce. Silver was the news of the rise in the global market, from $ 8 to $ 8.

The dollar was down against the rupee today in the Mumbai currency market, while the British pound saw a surge in prices. The British pound is bouncing amid the tide over the divorce plans between Britain and Europe being finalized, market analysts said. However, against the rise of the pound, the euro prices remained soft today.

Meanwhile, in Mumbai jewelery market today, gold prices closed at Rs 5, Rs 5 off 5 grams without GST of 5 grams and closed at Rs 5 open at Rs 5 with a gain of Rs 5. However, with GST, prices were up 5%. Meanwhile, silver in the Mumbi market today closed at Rs 6 with the opening price of Rs 5 per kg without the GST.

However, with GST, prices were up 5%. Meanwhile, platinum prices in the world market today fell from $ 8 to $ 8 an ounce, while palladium prices rose from $ 8 to $ 8 an ounce today.

Meanwhile, crude oil prices in the world market, which had recently fallen to the bottom of the five-month high, went up from $ 8 to $ 8 per barrel of Brent crude this evening, while New York prices rose from $ 1.8 to $ 6 a barrel.

Copper prices continued to stabilize in the global market, however. New York Copper futures prices were up 5 to 8.5 percent this evening, while London X. today had copper prices at $ 6 to $ 6 a tonne.

Meanwhile, the dollar in the Mumbai currency market today fell by 5 paise to 5.7 against the rupee, while the British pound went up by 5 paise to 5.7. The British pound prices today rose to 1.8 in the current market. Meanwhile, the euro prices today fell five paise to Rs. Fiscal deficit figures have weakened in India. Global data show that the GDP rate for the quarterly GDP is down from 8% to 8.5% annually as the prevalence of the deadly virus in China increases.

US stock markets fell today while bonds and treasury prices rallied, with Lumar New Year's holidays in more than a dozen provinces (provinces) in China more than a week in the news.

This has led to a cycle of cyclical movements in the Third-Third Economy. However, Chinese stock markets are likely to reopen on Monday, with informants showing today that the stock market is likely to hit a tight spot on Monday.