The price of gold is increasing tirelessly. On the first day of the new financial year (2024–25), it again set a precedent and reached the threshold of Rs 70,000. However, the yellow metal has already crossed that milestone by adding taxes. On Monday, 10 grams of retail gold (24 carats) rose to Rs 69,750 for the first time in Kolkata. 71,842.50 with GST. As a result, jwellery gold also rose. Hallmark gold jwellery touched an unprecedented high of Rs 66,350 per 10 grams. 68,340.50 with tax.
Gold industry circles claim that, as a result, buyers and traders are facing problems. They need solutions. National Gem and jwellery Domestic Council Director Samar Dey said this is why a bunch of demands are being made to the Center. He said, “There are demands to buy jwellery with bank loans, reduce GST, or not increase import duty.
Besides, if the buyer sells the old jwellery, under the current rules, the gold dealer can give him a maximum of Tk 10,000 in cash. The rest is to be paid by check. I have also demanded to increase this upper limit on giving cash. Many people are now coming to sell jwellery due to medical or other emergency reasons. But I can’t pay more money.
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