An Inventive Approach on Prediction of Gold Price in the Current Scenario
LUX MONTIS Vol. 7 No. 1 January 2019 AN INVENTIVE APPROACH ON PREDICTION OF GOLD PRICE IN THE CURRENT SCENARIO KAVERY B S RESEARCH SCHOLAR IN COMMERCE S N COLLEGE,KOLLAM ABSTRACT Gold is appreciated all over the world for its worth. Gold is an imperative part of a diversified investment portfolio. Indians have always invested in gold for weddings, gifts and as a hedge against inflation. Over decades people have been selecting the gold over other metals and semi-precious stones. After the implementation of GST, GST on gold rate will marginally increase. In 2019, the Price of 10 Grams of gold will be Rs.35,552.85 and in 2020 it would be Rs.37, 268.39. After the introduction of the GST, the consumers have to find out an additional amount of Rs.476.91, and the percentage of increase would be 5.75%. Keywords: Gold, Diversified Investment Portfolio, GST, Inflation, Customs Duty, Excise Duty, VAT Introduction Gold is appreciated all over the world for its worth. Throughout the centuries, people have sustained to hold gold for an assortment of raison d’êtres. India’s centuries-old gold industry is the world’s biggest market for the metal, with imports meeting almost all the country’s necessities for jewellery and investment. Imports are elevated not only because of an enormous demand but also because of the large population of about 1.2 billion people. India’s gold market is predicted to have more than 350000 jewellers, generally small, family-run businesses. The need for the study Gold should be an imperative part of a diversified investment portfolio because its price increases in rejoinder to actions that cause the value of paper investments, such as stocks and bonds, to turn down.
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