MCX Gold was trading at Rs 28,953 per 10 gram, down by 0.23% or Rs 66, while MCX Silver was trading at Rs 39,504 per 1 kg down by 0.48% or Rs 190. US Dollar is strengthening which is acting as a negative factor for Gold.
The GST Council revised rates of 66 items on Sunday which includes slashing the tax rate for jewellery making charges to 5% from the earlier 18% .
Meanwhile, major indices in the market are trading lower in the first half of Monday’she trading session. Nifty trading lower by 46 points at 9,621 level and Sensex is trading lower by 153 points at 31,108 level as of 1140 hours on Monday.
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