70% drop in gold demand: Import duty hike from 6% to 15% rattles buyers
A recent increase in import duty on gold from 6% to 15% has led to a significant decline in demand, with reports indicating a 70% drop. This change has rattled buyers and may have broader implications for the gold market. Experts are closely monitoring the situation as it unfolds.
- ▪The import duty on gold has been raised from 6% to 15%.
- ▪This hike has resulted in a 70% decrease in gold demand.
- ▪The increase in duty is causing concern among buyers and market analysts.
Opening excerpt (first ~120 words) tap to expand
The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.Read More
Excerpt limited to ~120 words for fair-use compliance. The full article is at Times of India — Top.
Discussion
0 commentsMore from Times of India — Top
