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Gold and silver prices: Gold futures become more expensive on the first day of 2021, silver also jumps

Today, on the first day of the new year, gold and silver futures prices have risen. However, this increase is not too much. Gold futures on the MSX rose 0.09 per cent to Rs 50,198 per ten grams. Silver futures rose 0.14 per cent to Rs 68,200 per kg. In 2020, both gold and silver have strong annual gains in Indian markets. According to global prices, gold rose by 277 per cent and silver by 50 per cent.

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The price in the world market is so high

Gold prices rose 25 percent in 2020, the biggest annual gain in a decade, amid stimulus from central banks and governments in global markets and a weaker dollar. Gold rose 0.2 percent to 8 1,898.36 an ounce on Thursday. Although the price of the precious metal has improved significantly since the record high in August among the rollout of the Covid-19 vaccine, dollar weakness has supported gold towards the end of the year.

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Among other precious metals, spot silver gained 46 per cent year-on-year and palladium had its fifth consecutive annual profit, rising nearly 2 per cent in 2020. In 2020, platinum rose 11 percent.

Today is the last day of the Sovereign Gold Bond project

Under the Sovereign Gold Bond Scheme, investors will be able to buy gold at a much lower price than the market price. The scheme is open for only five days and January 1, 2021 means today is its last day. So if you want to take advantage of this plan, don’t delay. According to the income tax rules, there will be many more benefits besides discount on profit on its sale

Possibility to buy cheap gold

The investment period under this project started from 28th December 2020. The government has given up to five days to invest in the project. This is the ninth series of 2020-21 fiscal year for investing in government gold bonds. The first series began in April 2020 and ended on April 24, 2020.

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Under this scheme, you can buy gold at Rs 50,000 per village. That is, if you buy 10 grams of gold, it costs Rs 50,000 and if the gold bonds are bought online, the government gives such investors an additional discount of 50 grams.

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