On Thursday, gold prices fell by Rs 248 in Delhi Sarafa Market. Talking about silver, the price of silver has dropped by Rs 853 today. According to HDFC Securities, the price of gold in the national capital today rose to Rs 49,714 per 10 grams. The yellow metal had closed at Rs 49,962 per 10 grams in the previous trading session. Silver was down from Rs 62,037 to Rs 61,184 per kg.
In this context, HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “The price of 24 carat gold in Delhi declined by Rs. 248 to Rs. 50,000 per kg”. Today, gold was trading at $ 1,861 an ounce in the international market, while silver was at $ 24.02 an ounce.
According to the report of the World Gold Council, at present, India has 653 metric tonnes of gold. With this, India comes in 9th place in the world in terms of the highest gold reserve. This is 7.4 percent of its total foreign exchange reserves.
Gold imports in India increased to $ 3.7 billion in August from $ 1.36 billion in the same month last year. India is the second largest buyer of gold after China. Gold attracts 12.5 per cent import duty and three per cent GST on gold in India.