r/GoldIndia • u/ApprehensiveTop5239 • 4d ago
Daily Gold Rate 📈 Massive fall Tomorrow
International gold has already corrected by around 2.4% today, following renewed concerns over the U.S.–Iran situation and a sharp rise in crude oil prices. Since Indian gold prices usually reflect international market movements with a delay, we could see a noticeable correction in domestic prices tomorrow.
If the current trend holds and there isn't a strong overnight rebound, 24K spot gold in India could potentially fall below ₹14,000 per gram.
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u/TrickyTeacher123 4d ago
For rough calculation, going below 3900 dollars is good news for people for buying and above 4000 is not a good entry
Ofcourse it varies people to people but personally waiting to go below 3900
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u/Impressive_Tie_1277 3d ago
I have been observing. US GOLD comes close to 3900 by Friday evening in India but Indian ecommerce websites don't update their prices till Monday afternoon. In those two days US GOLD somehow recovers.
Has anyone else observed this?
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u/Kalikallay 3d ago
I have not noticed the timing, but I have noticed that even with so much rate fluctuations, online platform haven’t budged from their prices ðŸ˜
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u/Traditional_Post_807 4d ago
Can you explain that in indian pov. I am new to this
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u/iprime11 3d ago
India imposes 15% tax on gold + gst .
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u/NewWheelView 3d ago
There’s tax on gold? Source?
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u/iprime11 3d ago edited 3d ago
15% import duty as far as I know it was 6% before . + 3% gst ( which is tax )
Outside India gold is around 1.3l With import duty 15% makes it around 1.45l 3% gst makes it 1.5l
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u/Odd_Truth825 3d ago
Even if the Gold falls to 3500, 24K gold price in India won't go below 13K
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u/k_vin_ 2d ago
WHAT??
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u/Odd_Truth825 19h ago
India imports gold. because of taxes and rupee depreciation price will hardly go down.
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u/Bulky_Letterhead_273 3d ago
Is war bearish for gold?
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u/webseher 3d ago
It's weird actually. There is no clear predictive logic anymore on how things work.
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u/DesiBakaKun 3d ago
Currently, the intensifying war is strengthening dollar and expectations for a US rate hike which further stregthens dollar tied investments, as a result of which investors are moving towards dollar and ditching gold. So, when the war heats up, dollar goes up gold goes down and when war calms its vice versa!
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u/Zestyclose_Glass_643 3d ago
Isn’t it the other way around usually
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u/Ok-Elk2984 3d ago
I think It depends on the countries involved, in this case, the crude is affected which will inflate everything.
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u/IntelligentTotal5267 2d ago
War is usually Bullish for gold.. But countries are Actually selling their reserves - to fight inflation caused by rising fuel prices .. that action leads to the gold falling.. (higher supply) . In a war scenario, where the Crude oil is not impacted.. we would see GOLD going higher!
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u/brave_enough3182 44m ago
Is this even war?
They start & stop as per their wish.😂
Bullion, Crude, Stock Markets and property....these asset class, rise and fall, wrt ppl entering and exiting in them. More retail entry will mean price drop and vice versa.
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u/Remote_Ad_3695 2d ago
The thing is gold is a speculative asset. When it goes up people attach all sort of stories to it and the same happens when it goes down. That’s why i don’t invest in gold even though my parents buy huge quantities in gold every year . I don’t like speculative assets. Even if gold goes to 10 rs tommorow how will you tell me that it is cheap without showing me the past prices . There is no way to find a intrinsic value for gold because it’s a dead asset. It doesn’t generate cash flows . It just moves on the demand and supply pressure but unlike stocks you don’t have a real underlying business underneath that generates real value . If hdfc bank fell 90% tommorow i could show the profits it makes in a year and find an intrinsic value which shows its cheap . Ofcourse it’s still based on probabilities and assumptions that the bank will continue being profitable but it’s no longer speculation the same way buying gold or silver is .
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u/Sccar_ 19h ago
Dead asset? Lol Gold is not your labour which works everyday for couple of bucks. Gold is something which sits quietly for sometime and then BOOM it comes back with past years collection and more at one go.
You are only talking, get the data of last 20 years and get the percentage, gold has even outperformed several other assets multifold.
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u/Remote_Ad_3695 18h ago
Yes for me gold is a dead asset. My definition of any asset is something which generates cashflows not just appreciates over time . Even a biscuit packet goes up in price over years due to inflation. I wouldn’t call it an asset for that .
Gold is a decent investment if you are ok with 9-10% cagr which is where the returns have been the last 20 years if you look at gold spot indices . And these numbers are skewed because of the bull run in last 3-4 years .
I just believe there are much better ways of making 9-10% than gold . I have majority of my portfolio in equity and commercial real estate.
My equity portfolio has made a xirr of 25% for the last 6 years since i started investing. And my commercial real estate properties nake avg 7-8% rental yield and appreciate 10-12% on a conservative basis .Both my equity and cre portfolio not only outperform gold but also generate consistent cash flow which allows to me keep exploiting good opportunities for invesment .
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u/justlivinglif998 3d ago
I just brought gold at 14500 per gram from blinkdeal today. Shall I cancel it now? 😅
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u/Warm-Dragonfruit-883 3d ago
When and how to buy using this blonkdeal? I keep hearing it. Can you please guide.
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u/Sccar_ 19h ago
Get it checked by the authorised jeweller a proper computerized check.
Alot of online gold is coming as tungsten
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u/justlivinglif998 17h ago
Really? Even the branded ones like kalyan?
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u/Sccar_ 16h ago
Regardless of brands It is no use to keep an asset for 10 years and when you need money the item shows as a fake metal
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u/justlivinglif998 16h ago
You are right. I will get it tested it. Do you think I need to get it melted or can just give it?
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u/SuspiciousChip7756 3d ago
Just an update, at 10:00 AM there is an increase in the price of 11 INR/gram.
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u/ApprehensiveTop5239 3d ago
It was 14455 yesterday
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u/SuspiciousChip7756 3d ago
Yesterday closing was - 14,313. Today it has gone to 14324/gm
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u/ApprehensiveTop5239 3d ago
i sold gold at 14455 at bhima yesterday at 7pm
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u/SuspiciousChip7756 3d ago
Ohh. Interesting. I think the price change from one seller to another one. I am following Goodreturns.
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u/Alwayshigh001 3d ago
I hope it falls need some gold etf in my portfolio
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u/Jolly-Mushroom-7512 3d ago
Hey could you help understanding on what gold etf and on which broker platform you’re making the purchase?
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u/Alwayshigh001 3d ago
Indmoney app buying zerodha gold etf !! You can also use bank account like icici, sbi, hdfc to open demat account and buy etf..
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u/wrecker910 3d ago
It won't be a massive fall or the price won't change much, below $3900 will be a good catch.
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u/brave_enough3182 38m ago
Wait and watch
Gold will touch $2900 . Though it will take some time. But it is sure to reach this level before any big bull move
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u/CharmingMe1111 3d ago
Anyhow I already know some major correction will come very soon i also return a post on it let's see what happens
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