Is It the Best Time to Buy Gold? Here's What Experts Say

In the recently introduced Modi 3.0 budget, the tax on gold was reduced from 15 percent to 6 percent. Following this announcement, gold prices have seen a significant drop. Since July 23, the price of gold per tola has decreased by a maximum of five thousand rupees. Bullion market experts predict that the prices, which have fallen considerably, are likely to rise again.

Experts suggest that gold prices, which have been falling since the budget announcement, are expected to increase substantially in the coming days. Prominent market analyst Jateen Trivedi advised that now is the time to prepare for buying gold, as it is likely to bring good profits in the future.

The price of 24-carat gold has dropped from 7500 rupees to 6900 rupees per gram, meaning a reduction of 600 rupees per gram in just one week. This price drop is attracting many buyers. Global market strategist and researcher Sarvendra Srivastava stated that gold prices are sure to rise in the coming days.

As for today's gold prices, they remain stable across all states in the country. Consequently, in Hyderabad and Vijayawada, the price of gold stands at Rs. 69,160 for 24 carats per 10 grams and Rs. 63,400 for 22 carats per 10 grams. Silver prices have also decreased significantly, with the price of silver per kilogram now at Rs. 85,000.