Today’s gold and silver price
Gold Rate on 09 May 2022 Updates: The US Federal Reserve has indicated to raise interest rates further to control inflation. Due to this, the US dollar and yields have increased, which has an impact on gold.
Gold Sliver Price in India: The prices of gold and silver have declined in the Indian markets on Monday. Gold and silver prices on the first trading day of the week due to weak global cuesGold Silver Price) has softened. June futures gold price on Multi Commodity Exchange (MCX) (24 Carat Gold Price) is broken per 10 grams by 0.23 percent. On the other hand, the price of July futures silver has fallen by 0.41 per cent per kg. Gold is under pressure after reaching the level of Rs 56,000 in March. Gold weakened on the back of a strengthening US dollar and a rise in US bond yields.
The dollar index has reached a two-decade high. This has reduced the demand for bullion as compared to other currency holders. Apart from this, US Treasury yields are also close to three-year high. This has also had an effect on gold. Spot gold fell 0.6 per cent to $1,871.96 an ounce today. The US dollar has strengthened on concerns of slowing global economic growth and increasing interest rates.
Gold futures in June fell by Rs 120 to Rs 51,223 per 10 grams on the Multi Commodity Exchange (MCX). While July futures silver prices fell by Rs 259 to Rs 62,289 per kg.
|Date||city||22 karat gold (per 10 grams)||24 karat gold (per 10 grams)|
|9 May 2022||Delhi||Rs 47,500||Rs 51,810|
|Kolkata||Rs 47,500||Rs 51,810|
|Mumbai||Rs 47,500||Rs 51,810|
|Chennai||Rs 48,730||Rs 53,300|
|Bangalore||Rs 47,500||Rs 51,810|
|Hyderabad||Rs 47,500||Rs 51,810|
|Kerala||Rs 47,500||Rs 51,810|
|Ahmedabad||Rs 47,320||Rs 51,540|
Source: Goods Return
Silver prices fell 0.5 percent to $ 22.24 an ounce in the spot market. However, gold declined amid rising concerns over China, inflation concerns and rising Russia-Ukraine tensions. Gold has fallen sharply in the last few days, but now we can see some strength with mixed factors.
tax on sale of gold
The holding period of 3 years in gold comes under short term. If invested for more than 3 years, it comes under Long Term Capital Gain. Short term gain i.e., capital gain is added to your income if you sell gold within 3 years of purchase. You are taxed according to the tax slab you fall in.
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