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https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059595
if import duty is to be reduced then why to buy gold now 😄
Discount on Gold reaches Record High, also the Prices!
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Discount on Gold reaches Record High, also the Prices!
Gold Discounts are the Highest Now. Also, Gold Prices have touched its Peak in the Indian Market ahead of Budget 2023.
by FighterMan
Updated: 30 Jan, 2023, 10:24 IST
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People looking to Invest in Gold have some good news! This week, Discount on Gold has reached a record high in the past 10 months. What’s more interesting, Gold Prices have also reached a record high!
Gold merchants are offering around ₹3400 Discount on 28 grams of Gold i.e. ₹120 off on 1 gram. Earlier the discount was ₹70 on 1 gram of Gold.
February Gold futures on MCX is currently at ₹58,970 for 10g of 24k gold, record high! Last week it was ₹56,900, and last year at this same time it was ₹49,320. This rise is due to 15% import duty and 3% GST as India imports most of its requirements. Thus, the Gold Industry has proposed to reduce the Import Duty on this metal in the upcoming Budget 2023 on 1st Feb, headed by FM Nirmala Sitharaman.
In 2022, Gold performed extremely well with high returns, and it seems 2023 will see a better result in the global markets as well. Moreover, the Fed is expected to reduce its rate hike from 50 bps to 25 bps or even lower.
Thus, the best time to buy Gold in India is now! What do you think? Also, do you prefer buying Gold online or from your nearest gold merchants?
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https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059602
luciferous wrote:proposal has gone so implementation might take time, its India you know.if import duty is to be reduced then why to buy gold now 😄
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059604
Just wait for recession which will over in six months.Then buy.
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059610
Yesterday, bought ~3 gm 22K hallmarked gold for 15k from offline market . Online prices are quite high
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059619
Sandyk007 wrote:I think in recession the prices of gold rises 🤔
Just wait for recession which will over in six months.Then buy.
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059626
Sandyk007 wrote:Already price of every products are double or triple, isn't that Recession 🙂
Just wait for recession which will over in six months.Then buy.
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https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059649
saucap wrote:Yesterday, bought ~3 gm 22K hallmarked gold for 15k from offline market . Online prices are quite high
Which store? Hallmark is no guarantee of pure gold, just saying.
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059663
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papa_kancha wrote:Which store? Hallmark is no guarantee of pure gold, just saying.
Yes, I agree. But they charge extra in the name of hallmarks. Not any reputed company, its a neighbourhood jewellery shop.
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059687
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In between, meme is nice
Best_Deal_Hunter wrote:Yeah.. We are already in recession.Investors feel gold is safe place now and buy lot of gold. After 6 months when recession comes down, they sell all gold reserves and price will come down gradually. Then we will buy it.
Already price of every products are double or triple, isn't that Recession 🙂
In between, meme is nice
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9059750
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9061007
How much % will be reduced in total. Lets say the profit running on gold is 1000 when bought at 11000. how much less do we expect to go down. if its 5 % then the profit fall to 600/-. Any idea how much will it go down from 12000/-
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9064034
IT software boom is doing it. it allows to easily demand, but supply needs real physical item manufacturing not virtual IT software or iot toys. Amazon selling 15yr old ebay trash every year, only phone models are new which is just more IT. 5G 11G too. Amazon Karigar and useless schemes just sell 100yr old low and ok quality street items at premium price
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9107443
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luciferous wrote:
I think in recession the prices of gold rises 🤔
Exactly!!! Gold hitting record high means the world is in deep recession.
https://www.desidime.com/news/discount-on-gold-reaches-record-high-also-the-prices?page=1#post_9107454
Covid has triggered unreasonable lull in economy followed by unreasonable exuberance once covid ended. Expect the economy to move sideways this year also.
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Where do you see recession , except firing in few IT companies in India?
Yesterday, bought ~3 gm 22K hallmarked gold for 15k from offline market . Online prices are quite high