Budget 2025: Gold price to RISE post Budget? Check impact analysis HERE
Finance Minister Nirmala Sitharaman will present the budget on February 1st. Gold prices are already rising, leading to speculation about their trajectory post-budget
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Budget Presentation
Finance Minister Nirmala Sitharaman will present the budget on February 1st. Gold prices are rising, leading to speculation about their trajectory post-budget
Gold Price
Gold prices saw a slight decrease on Tuesday. However, the price remains high for the average consumer. The price of gold in Kolkata is currently ₹80,000 per 10 grams
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Post-Budget Gold Price
Speculation is rife about whether gold prices will rise or fall after the budget. The World Gold Council fears that gold prices may rise further after the budget
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World Gold Council
The World Gold Council fears that gold prices may rise further after the budget. The World Gold Council fears a negative impact if import duties are increased in the upcoming budget. Import duty on gold was previously 15% but was reduced to 6%
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Gold Price Increase
The government reduced import duties to stabilize gold prices and ensure sufficient supply. This led to increased gold consumption and concerns about a widening trade deficit
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Potential Duty Increase
There is speculation that the government may increase the duty on gold, which could further increase prices
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India's Gold Consumption
India is the second-largest consumer of gold globally, requiring imports to meet demand. Sachin Jain, Regional CEO of the World Gold Council, requested the government not to increase the duty on gold, citing potential market impact