Gold Rate: Gold will be sold at one rate across the country, the price will be decided by ‘One Nation One Gold Rate’!

With the opening of the bullion exchange, the path to launch the One Nation One Gold Rate scheme has become easier. With the opening of the bullion exchange, jewelers and banks will import gold only at international rates, so that there will be no difference in gold prices.

One nation one gold rate scheme will be applicable for gold rate

The demand for implementing One Gold One Rate scheme in the country is old. This is because the same gold is sold at some other rate in Delhi, then at another price in Patna. From Tamil Nadu to Jammu and Kashmir gold price You will see the difference whereas gold remains the same. The measure of purity is also the same. This is because the port where the gold is imported and landed, is sent from there to different states. The price of gold changes after the shipping cost etc. is added. However, the price of gold remains the same at the time of import. The Government of India considers One Gold One Rate for a long time to eliminate the difference in price. Now this idea seems to be successful.

With the opening of the bullion exchange, there is a wave of happiness among jewelers as they will now get the facility to buy gold at international prices and they will not have to pay any transportation charges. The price of gold changes in different states only due to the levy of transportation charges. Jewelers also believe that the opening of the bullion exchange has made the path to launch the One Nation One Gold Rate scheme easier. With the opening of the bullion exchange, jewelers and banks will import gold only at international rates, so that there will be no difference in gold prices.

Advantages of Bullion Exchange

Not all jewelers will get the facility to buy gold at international rates. The jewelers who will fall in the category of bullion exchange will be able to import gold at international prices. This will save the freight charge i.e. the cost of transportation and will help in keeping the price of gold low. The difference in price is seen only due to transportation. Regarding the India International Bullion Exchange, Prithviraj Kothari, National President, Indian Bullion and Jewelers Association, says that jewelers will import gold at international rates without paying freight charges. If the price of this gold does not increase in future, then customers will get the benefit of cheaper rate. With the opening of the bullion exchange, international companies will express the prices of gold and silver on the same platform. This will benefit both national and international companies.

Gold prices will be the same across the country

There will be many benefits of opening an exchange in Gandhinagar. This will bring transparency in fixing the price of gold. It will help in setting the quality of gold as there will be standard setting of purity on the same platform. Since gold will now come out from one place all over the country, it will be easier to fix the price and set the standard of purity. Due to this, there will be different expenditure on gold and the customers will get the full benefit of it in the end. Gold prices will be lower than before. This will encourage the concept of One Nation One Gold Rate.

In other words, after the implementation of One Nation One Gold Rate, now gold traders in different states will not be able to take more profit from the customers. At present, merchants charge margin from their customers according to their expenses, but after the implementation of the scheme, there will be a single rate across the country. Bullion Exchange of Gandhinagar will help in this work.

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