Gold prices have increased from 10 per cent to 12.30 per cent, while the price of gold has reached 37,750 per 10 grams. Gold prices have risen by over 6,000 in the last four months and are likely to reach the surface of 40,000 in the coming months. Gold prices are rising due to the downturn in the Sony market across the city. The festive season has begun but the dark does not appear. If such a recession continues, some jewelers are likely to fall. Not only gold but silver is also rising at 42500 per kg. Silver prices have risen five thousand in four months.
Gold and silver prices have not risen so fast. One showroom owner said that it is not dark and 50% discount offers are being sold to the customers. New orders not received. Light bills and staff salaries are high. In those circumstances, small shopkeepers will suffer greatly.
There was previously a 10 per cent import duty on gold which has been increased to 12.30 per cent. And with 3% GST, gold prices have gone up due to paying 15.30% total tax.