Gold Price Budget 2025: Ahead of the Union Budget 2025, speculations about increasing the custom duty on gold have intensified. Experts believe that the government can take this step to control imports and reduce trade deficit. If this happens, gold prices may increase rapidly in the domestic market. Buying gold at current prices can prove to be a good opportunity for investors. Currently, the price of 10 grams of 24 carat gold in the country is trading around Rs 81,500. If the government increases the import duty in the budget, then the price of gold in the country will increase further.
Will the government increase the import duty on gold in the budget?
In the budget presented in July 2024, custom duty on gold and silver was reduced from 15% to 6%. After this, the import of gold in the country increased by 104% in August 2024 and reached $ 10.06 billion. However, gems and jewelery exports declined by 23% during this period. Due to this, questions were raised on the government’s policy because trade deficit increased due to increase in imports. Now the government is preparing to solve this problem by increasing the duty.
Will gold prices increase after February 1?
Experts say that due to increase in duty, domestic prices of gold will increase. India will import gold worth $47 billion in 2024, which is more than the total of $42.30 billion in 2023. To control increasing imports, the government may consider increasing custom duty. If this happens then gold prices are certain to rise.
Why may gold prices increase in the year 2025?
Gold prices in the domestic market have already reached Rs 81,500 per 10 grams. This is 0.8% higher than last week’s ₹78,400. Currently, the price of gold seems to be trading in the range of Rs 78,000 to Rs 81,000 per 10 grams. If the price of gold remains at the level of Rs 81,000, it may rise further. If the government increases the import duty, the price of gold will automatically increase. Apart from this, global uncertainties, the second term of US President Donald Trump and the policies of the Federal Reserve can also affect gold prices.
Will it be beneficial to buy gold before the budget?
This is the time for investors to take strategic decisions. One should not miss the opportunity to buy gold when its prices fall. Gold prices are likely to rise due to increase in custom duty and global events. Therefore, investing before the budget can prove beneficial.
Gold Price Today: Gold ready to reach new peak, price of 22 carat gold around Rs 75000