India's Bold Move: Reducing Bullion Import Taxes to Revitalize Market India has significantly reduced import duties on gold and silver from 15% to 6%, aiming to boost retail demand and combat smuggling in the world’s second-largest bullion consumer. This move is expected to create a more level playing field for industry stakeholders and potentially increase global gold prices. However, it may also widen India’s trade deficit and pressure the rupee. The decision led to an immediate drop in local gold prices, which could stimulate demand that had been suppressed by record-high prices earlier in the month. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts BANK OF AMERICA: Gold Still Has Upside, Despite New Record High READ MORE German and Italian Gold Imports Linked to Amazon's Illicit Mining Boom READ MORE CBO Raises 2024 US Budget Deficit Forecast by 27% to Nearly $2 Trillion READ MORE Bull Market Gains Momentum as Latest Inflation Data Surprises READ MORE Tech Stocks Lead $1 Trillion Wipeout Amid Global Market Meltdown READ MORE Add a Comment Cancel replyYour email address will not be published.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