India's Gold Duty Cut Diminishes Dubai's Appeal for Shoppers The recent reduction in customs duty on gold imports in India’s 2024 budget is expected to significantly alter the gold purchasing habits of Indian consumers, making it less attractive to buy gold from Dubai. This change narrows the duty differential, resulting in lower gold prices in India and boosting local gold jewelry production. Indian jewellers anticipate that a substantial portion of their business will shift from the UAE to India, as the reduced import duty allows them to offer competitive prices. Additionally, the lower labor costs and mandatory hallmarking in India enhance the appeal of buying gold domestically. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Massive Volume in the Silver Futures Market, 2/3 of a Billion Ounces… READ MORE The Day the Hunt Brothers Capped the Price of Gold (Part 2) READ MORE Swiss Central Bank Cuts Rates, Getting Ahead of Global Peers READ MORE True Inflation May Have Peaked in Late 2022 READ MORE Citadel Strikes Gold in Commodities: Over $4 Billion Earned in 2023 READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment