Gold price surges after import duty hike. Is this rise an opportunity to buy?3 min read . Updated: 02 Jul 2022, 10:27 AM IST
- Gold price ended higher in domestic market this week while it retraced in spot market in this period
Gold price today: After hike in import duty on gold from 7.50 per cent to 12.50 per cent, gold price witnessed sharp upside move on Multi Commodity Exchange (MCX) and in retail domestic markets. Recording ₹1,433 per 10 gm gain on Friday session, MCX gold rate ended at ₹51,950 levels whereas spot gold price ended $2.81 per ounce higher at $1810.10 per ounce. So, the precious metal ended higher in domestic market this week while it retraced in the spot market in this period. In fact, gold price has logged 6.74 per cent dip in Q1FY23.
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