Investing in gold through the gold exchange will become even easier. Through the gold exchange, gold can be invested in the same way as shares are invested.
New Delhi: The country’s general budget was presented on 1 February. During this, Finance Minister Nirmala Sitharaman also made many important announcements. Gold exchange was also talked about in these announcements. People are said to be benefiting through the gold exchange. However, the general public does not yet know much about the gold exchange. In this way, you know about the Gold Exchange…
The government proposed to introduce a unified securities market code on the general budget. Finance Minister Nirmala Sitharaman presented the budget of 2021-2022 in the Parliament of the country and said that the Securities Markets Code would include SEBI Act, Depositories Act and Government Securities Act. He said that along with this the capital market regulator Securities and Exchange Board of India (SEBI) will also be notified as the regulator of the gold exchange.
Investing in gold will be easy
At the same time, investing in gold through the Gold Exchange will become even easier. Through the gold exchange, gold can be invested in the same way as shares are invested. Just as SEBI regulates BSE and NSE, the regulation of gold exchange will also be in the hands of SEBI. Like BSE and NSE, trading and investing can be done on the Gold Exchange. The only difference is that instead of shares in it, there will be buying and selling of gold in it.
It is believed that there will be an increase in the number of retail investors who invest in gold through the Gold Exchange. Gold is seen as a safe investment. In such a situation, a large number of investors will join it. Explain that currently there is no exchange for gold. Only Gold ETF comes under SEBI regulations in the market.
Import duty cut
At the same time, in the budget, the Finance Minister had announced a reduction in import duty on gold and silver. This step will help in bringing down the prices of these precious metals in the domestic market and will encourage the export of gems and jewelery. However, gold and silver, gold alloy, silver alloy will attract 2.5 percent agricultural infrastructure and development cess.
What is the price of gold?
After cutting the custom duty on gold by two and a half percent in the budget, its prices are under pressure. For the last three days, it is on the path of decline in the spot market. After the budget, gold has fallen by Rs 2500 per ten grams. The price of gold in MCX has reached around Rs 46850 per ten grams.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.